Apartment Look

Finance & Accounting By REW •   April 26, 2017 Eastern Union Funding arranged the following transactions: A $36.9 million first lien mortgage for the acquisition of an 11- building multifamily portfolio in Bronx, NY. This transaction was arranged by Jonathan Singer and David Metzger. A $10,500,000 first lien mortgage for the acquisition of a 197- unit multifamily in Pennsville, NJ. This transaction was arranged by David Singer. A $5,000,000 first lien mortgage for the refinance of a 61- unit multifamily on 40th St. in Sunnyside, NY. This transaction was arranged by Michael Muller. A $2,200,000 first lien mortgage for the acquisition of a 6, 800 sf industrial property on Route 114 in East Hampton, NY. This transaction was arranged by Marc Tropp. A $1,450,000 first lien mortgage for the refinance of a 3- unit multifamily on South Lakeshore Dr . in Browns Mills, NJ. This transaction was arranged by Jeffrey Seidenfeld and Jonathan Singer. ••• Meridian Capital announced t...

NEW YORK, NY -  Centerline Capital Group (“Centerline”), a provider of real estate financial and asset management services for affordable and conventional multifamily housing , and a subsidiary of Centerline Holding Company (OTC: CLNH), announced today it has provided a $15. 5 MM Fannie Mae first mortgage to refinance Forest Ridge Apartments in Nashua, New Hampshire. Forest Ridge Apartments , located at 1B Hampshire Drive in Nashua, is a garden style multifamily facility built in tin two phases in 1969 and 1972.  The facility comprises 21 , two- and three-story buildings.  The property consists of a total of 370 units, and the unit mix includes 88 one bedroom-one bath units, 242 two bedroom-one bath units, 24 two bedroom-one bath townhouse units , and 16 three bedroom-two bath townhouse units . The loan is a 10- year fixed rate facility with a 30- year amortization period . The loan will be used to refinance the existing balance on the property.  Centerli...

29th Street Capital and Stonemark Equities Acquire Southern Hills Apartments in Arlington, TX Irvine, CA, November 10, 2013 --(PR.com)-- 29th Street Capital (29SC), through its high net worth fund , has closed on an off-market opportunity to acquire Southern Hills , a 250- unit apartment community located in Arlington, TX. The property was acquired through a partnership sponsored by Stonemark Equities . Southern Hills was owned and self-managed by a group of private investors. The property suffers from deferred maintenance that has resulted in rents and occupancy below neighboring competitive properties . The business plan is to immediately implement professional management through Stonemark Management , LLC, and invest $1.3 million for both interior and exterior improvements to achieve rents in line with the market. “This asset is a great addition to our high net worth fund with strong cash flow and future upside,” said Robb Bollhoffer, Managing Partner at 29SC. “We are also ...

SANTA ROSA, Calif. , Aug. 22, 2017 /PRNewswire/ -- San Francisco area based Praxis Capital , Inc . is pleased to announce that it has acquired the 198-unit Class B Birch Run Apartments in Clarkston, Georgia . This is the company's first acquisition in the Atlanta metro. Praxis plans to build a portfolio of approximately 2,000 units in this market. Praxis Capital has acquired the Birch Run Apartments , a beautiful 198-unit Class B Value-add property in Clarkston, GA, a suburb of Atlanta" src="https://mma.prnewswire.com/media/547731/Praxis_Capital_Inc_Birch_Run_Atlanta.jpg?w=800" alt=" Praxis Capital has acquired the Birch Run Apartments , a beautiful 198-unit Class B Value-add property in Clarkston, GA, a suburb of Atlanta" class="img-responsive" /> Praxis Capital has acquired the Birch Run Apartments , a beautiful...

Zillow Group, Inc. (ZG) Q2 2017 Earnings Conference Call August 08, 2017 17:00 P.M. ET Executives RJ Jones – VP, Investor Relations Spencer Rascoff – CEO Kathleen Philips – CFO Analysts Ronald Josey - JMP Securities Mark Mahaney - RBC Capital Markets Unidentified Analyst - Sli.do © Provided by Seeking Alpha Earnings Call Transcripts Michael Graham - Canaccord Genuity Christian Rice - Needham & Company Hayden Blair - Stephens Inc. Brian Nowak - Morgan Stanley Mark May - Citigroup Lloyd Walmsley - Deutsche Bank Bradley Erickson - KeyBanc Capital Markets Shyam Patil - Susquehanna Financial Group Heath Terry - Goldman Sachs Presentation Operator Good day, ladies and gentlemen, and welcome to the Zillow Group's Second Quarter 2017 Earnings Call . At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions]. As a reminder, today's call is being recorded. I wou...

Massachusetts firm pays $56M for Jupiter apartment complexes Mallards Cove and Shell Trace Apartments sold for about $156,000 per unit By Amanda Rabines | August 15, 2017 12:00PM Mallards Cove Apartments Inset : Lawrence R. Gottesdiener CEO Northland Investment Big ticket multifamily complexes keep trading in South Florida. Newton, Massachusetts- based Northland Investment Corp . just bought two sister rental communities in Jupiter for $56 million, property records show . The real estate investment firm financed the deal with a $46.4 million mortgage from CBRE Capital Markets . Records show the mortgage is a Freddie Mac loan . The communities are called Mallards Cove and Shell Trace Apartments . The properties, located at 6705 Mallards Cove Road , stretch nearly 31 acres and offer about 359 units, meaning the trade breaks down to about $156,000 per unit. The seller is linked to Rhode Island- based Preston Giuliano Capital Partners . Records show the company is led by Michael Giul...

CLOSE North Korea threat; Fatal Rehoboth Beach house fire ; Bruce Springsteen on Broadway 8/10/17 1303 Delaware Avenue was purchased by Capano Management . (Photo: Courtesy of Capano Management ) Capano Management continues to bolster its residential portfolio with the acquisition of 1303 Delaware Apartment Homes in Wilmington's fashionable Trolley Square neighborhood . A sales price was not disclosed. Capano financed the purchase with a fixed-rate loan from Fannie Mae.  The privately-held Wilmington-based developer's multifamily division, Capano Residential , purchased the 231- unit high rise from Merion Realty Partners , a Wynnewood, Pennsylvania, real estate investment firm . Jeffrey Shumaker, vice president responsible for Merion's multifamily division, declined to comment on the transaction. "That's not public information," Shumaker said of the sale.  Upon acquisition, Capano Residential , which is headed by Louis J. Capano, renamed the property Par...

Charleston, S.C.– Greystar Real Estate Partners announced today that it has acquired Riverstone Residential Group , a leading manager of apartments in the United States, from London- based CAS Capital Limited , a wholly owned subsidiary of Regis Group PLC , owned by Nick and Peter Gould. The acquisition solidifies Greystar ’s position as one of the world’s leading multifamily real estate services companies with over 385, 000 apartment units under management in major markets throughout the United States and abroad. Greystar has been among the largest managers of apartments in the United States for a number of years. Over its 20-year history, the company has successfully integrated a number of major operators, including the management arms of JPI, Archon and Glacier. In addition to property management, the company also has a robust investment management and development platform and recently expanded its operations internationally to Mexico and the United Kingdom. The acquisition wi...

Sir John's Apartments | Phoenix, AZ PHOENIX - Aug. 21, 2017 - PRLog -- ABI Multifamily , the Western US's leading multifamily brokerage and advisory services firm , is pleased to announce the $1,484,000 / $106,000 Per Unit sale of the Sir John's Apartments, a 14- unit apartment community located in Phoenix, Arizona. The property is a one- story apartment community , built of block construction in 1967 and rests on 0.88 acres. The property features all (14) 2-bedroom units with an average size of 850 square feet. Each unit is individually metered for electricity and features its own enclosed backyard. Ryan Smith, Vice President at ABI, who represented the Seller and Buyer in the transaction, states, "The Buyer saw opportunity in both implementing a value add strategy, as well as, the property's Arcadia submarket location . The Buyer intends to reposition the property to compete with the on-going demand for more affordable B class housing." The Seller was ...

Breckenridge Apartment Homes , Portland, Ore." width="300" height="133" /> Breckenridge Apartment Homes , Portland, Ore. Portland, Ore .— Resource Real Estate Opportunity REIT II , a non- traded real estate investment trust sponsored by Resource Real Estate , announced it has acquired the Breckenridge Apartment Homes . Details about the transaction remain undisclosed . Breckenridge is a garden style multifamily community with 357 units built in 1985 in the West Hills submarket at 8150 SW Barnes Road . The property sits within five minutes of both Providence St. Vincent Medical center and the Sunset Corridor. “We are very pleased to be able to execute the purchase of Breckenridge on behalf of Opportunity REIT II and its investors. Portland is among the best cities in the U.S. for attracting young, creative and educated people. Due to its talented labor pool , Portland has seen the breadth of its job opportunities grow as key employers have followed the ...

LAKEWOOD, CO - Wood Partners, a national leader in multifamily real estate development , announced that its clubhouse is open and it has begun on-site leasing at Alta Pinehurst , a 350-unit community in Lakewood, Colorado.Conveniently located on the border of Lakewood and Denver, it is adjacent to the historic 27- hole Pinehurst Country Club . The community is surrounded by the natural beauty and views of the Colorado landscape while providing state-of-art amenities and modern living spaces . " Alta Pinehurst is ideally located where residents can enjoy all of the perks and conveniences of metro Denver, while still having quick access to the mountains," stated Tim McEntee , Director of Wood Partners' Rocky Mountain and Midwest Regions. "This location is a perfect fit for outdoor enthusiasts with highly active lifestyles ." Alta Pinehurst is close to the Wadsworth shopping corridor , with easy access to Southwest Plaza Mall and Belmar. Highway 285 provi...

Gebroe-Hammer Associates Coveted apartment  complex fetches $40M An apartment community in tony West Orange , NJ,  has been sold for $40.5 million. Gebroe- Hammer Associates brokered the sale of the 178- unit Crest Ridge Apartments complex . The team of Greg Pine and Adam Zweibel exclusively represented the original developer , Rockledge Realty, LLC, and procured the buyer, Sela Realty Investments , in the transaction. Located at 200 Mt. Pleasant Ave. at the base of an 80 ft. cliff, the 16-building, historically well- occupied complex posed an extremely rare acquisition opportunity within the Northern New Jersey metro. “Situated in the Town Center section of West Orange, Crest Ridge Apartments is at the heart of one of the most expensive, in- demand local neighborhoods as well as the transit- filled greater West Essex County submarket ,” said Pine. “In a township where apartment rentals make up only about one-third of the housing stock, Crest Ridge Apartments is a gem favored...