News
St. John Properties, Somerset Companies Deliver First Phase of MD Multifamily Project
A joint venture between St. John Properties, Inc. and Somerset Companies has delivered the first phase of Melford Mansions, a luxury multifamily community within Melford Town Center in Bowie, Maryland. The initial delivery includes four five-story buildings offering 197 studios and one-, two-, and three-bedroom residences ranging from 516 to 1348 square feet. Upon final...
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Marcus & Millichap Arranges $20M Sale of Chicago Multifamily Property
Marcus & Millichap completed the sale of 1515 N Fremont St., a 98-unit multifamily property with approximately 4,000 square feet of commercial space in Chicago’s Lincoln Park neighborhood. The property sold for $20.4 million. “The combination of an exceptional location, sizable scale, strong fundamentals, and limited opportunities in the market made this a very attractive...
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Carttera Breaks Ground On Queen West Rental After Condo Pivot
Carttera has broken ground on a 358-unit purpose-built rental development at 1266 Queen St. W. in Toronto, moving ahead with a project that was originally planned as a condo tower. Architect BDP Quadrangle said this week that construction is officially underway at the Parkdale site and that demolition of the existing two-storey commercial building has...
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Northmarq Closes Sale of $23M Multifamily Community in Spokane
Northmarq’s Seattle Investment Sales team, led by Tyler Smith, Steve Fischer, Joe Kinkopf and Brendan Greenheck, brokered the $22.5 million sale of Go Go Heights Apartments, a 178-unit garden-style multifamily community located at 7024 N. Colton St. in Spokane, Washington. Northmarq represented the seller, LC Gogo Heights LLC, in the transaction. The buyer was c702...
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RangeWater Spends $55M on Atlanta Rental Community
Bell Partners sold Bell Buckhead West for $54.9 million. RangeWater Residential was the buyer. Bell Partners paid $62 million to acquire the asset in 2017, which is at 3201 Downwood Cir. in Atlanta. RangeWater renamed the property Blaine Buckhead West. Rents at Blaine Buckhead West range from $1,399 to $2,345. Unit sizes range from 676 square...
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West Palm Beach Developer Buys Lot, Apartments on Way
Estate Cos. bought a lot in West Palm Beach and plans to build the second phase of a two-phase apartment project. The S. Florida Business Journal reports the company paid $13 million for a 1.19-acre lot at 411 West Railroad. The seller was Sunview Cos. Banesco USA provided an $8.45 million mortgage to the buyer....
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McDowell Starts Work on Hudson Age-Restricted, Affordable Apartments
McDowell Housing Partners closed on a construction loan and started work on Ekos at Bayonet Point II, the second phase of a three-phase master-planned community that will bring 360 affordable homes to Pasco County. The $38.9 million development will add 120 age-restricted apartments at 7526 McDowell Way in Hudson, one block from HCA Florida Bayonet...
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Inflation Is Down. But Consumers Aren’t Out of the Woods Yet
The Consumer Price Index (CPI) increased 3.4% year over year in July. Meanwhile, the core CPI, which excludes food and energy costs, rose 2.5%. Both measures fell slightly month over month. They also matched market expectations and suggested that inflationary pressures could be moderating. A recent Marcus & Millichap report supported that possibility, noting that...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout