Sade Real Estate is planning $11 milion in upgrades on its recently purchased apartment tower between River Oaks and Greenway Plaza. While the price of the 40-story building was not disclosed, the company inked a $128.5 million loan from Hudson Bay Capital to acquire the property. The work will be done at what is now dubbed The Arno, at 2929 Weslayan St.
The makeover of the 168-unit venture will include updates to the dining and fitness facilities on the eighth floor, as well as improving the building’s roof. The development has one, two and three-bedroom apartment layouts and penthouses, with rent beginning at $2,250.
The Houston office of architecture and engineering firm Pvedi has been tapped to design the renovations.
Marcus & Millichap completed the sale and financing of 884 and 939 Palm Ave., two multifamily properties totaling 72 units in West Hollywood. The assets traded for $29.85 million, or $414,583 per unit. Tony Azzi and Rabbie Banafsheha of The Azzi Group of Marcus & Millichap exclusively represented the seller, a private family investor. Azzi,...
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JLL Capital Markets arranged a $154.25-million refinancing for Greybarn Amityville, a mixed-use residential property in Amityville, NY, owned by Rechler Equity Partners. Senior managing directors Peter Rotchford and Andrew Scandalios and director Clayton Ross arranged the financing through PCCP, LLC. “Lenders are looking closely at how a multifamily property performs today and at the owner’s...
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RioCan is shifting $235M in residential development assets toward commercial uses, a move disclosed in its third-quarter results that raises questions about plans for an approved 80-storey condominium tower on Toronto’s Mink Mile. The tower at 83–95A Bloor St. W., planned with Parallax, received zoning approval in December 2024. But RioCan’s latest financial statements identify...
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