Apartment Look

CLEVELAND, Ohio - The owner of downtown Cleveland's fourth-tallest building is doing an about-face, marketing the Tower at Erieview and the adjacent Galleria shopping mall for sale after more than a year of exploring a partial conversion of the skyscraper to apartments. RAIT Financial Trust recently put the buildings on the market, at an undisclosed price. A listing package from real estate company HFF , Inc., started making the rounds last week. The 40-story tower, at East 12 th Street and St. Clair Avenue, is only 45 percent leased, according to HFF's listing materials. The glassy, barrel- shaped Galleria is 60 percent leased. The property also includes a 421- space parking garage . Related: Oswald Centre, former Eaton Center hit the market RAIT's decision doesn't shut the door on a potential residential redevelopment of a third of the office space. But the listing throws the timeline for such a project into limbo - and signals that the Philadelphia- based company...

LONG BEACH, CA--(Marketwired - Aug 17, 2017) - RK Properties (www.RKProp.com) announced that it has acquired Edwards Mill , a 220- unit multifamily property in Raleigh, North Carolina. "We are excited to add our third and final property to RK Opportunity Fund IV with the purchase of Edwards Mill ," said Steve King, Vice President of Long Beach, California- based RK Properties . "We believe this asset is consistent with our disciplined underwriting criteria that meets the requirements of our investors for preservation of capital, reliable monthly income , appreciation, and tax benefits." Mr. King noted that RK Properties focuses on acquiring multifamily assets in strong locations with historical rent growth and a value- add opportunity . Edwards Mill is the company's first Delaware Statutory Trust (DST) structure, offering investment opportunities for 1031 exchange buyers and direct capital investors . Built in 1984, Edwards Mill is a 220-unit class ...

RALEIGH, NC - RK Properties announced that it has acquired Edwards Mill , a 220- unit multifamily property in Raleigh, North Carolina ."We are excited to add our third and final property to RK Opportunity Fund IV with the purchase of Edwards Mill," said Steve King, Vice President of Long Beach, California- based RK Properties . "We believe this asset is consistent with our disciplined underwriting criteria that meets the requirements of our investors for preservation of capital, reliable monthly income , appreciation, and tax benefits." Mr. King noted that RK Properties focuses on acquiring multifamily assets in strong locations with historical rent growth and a value- add opportunity . Edwards Mill is the company's first Delaware Statutory Trust (DST) structure, offering investment opportunities for 1031 exchange buyers and direct capital investors . Built in 1984, Edwards Mill is a 220-unit class 'A' community situated on 36.5 acr...

SACRAMENTO -- Would you pay hundreds more a month to live in conditions like this? That's just what dozens of renters at the Cedar Ridge Apartments say they're being asked to do. "Her name is Maria Godinez. They're raising her rent over $300, and she's struggling to pay the rent now," Godinez said in Spanish with the help of a translator. Now the one bedroom, one bathroom apartment she's lived in with her three girls for six years is in the $700s but on June 1, the pocketbook punch for the same unit will be $1,050, plus utilities. The change comes at an especially bad time for the five members of the Luna family who share a two-bedroom unit. "Right now, yeah, because my brother and I, we got let go from our jobs because our work permits expired , so we're not working right now," said Cedar Ridge tenant Claudia Luna . "It's too much, we don't have all the things that we need for the rent to be increased," said tenant Deana J...

Penklor & DMG Unveil Fully Renovated Stone Creek Apartment Complex in Union Township with Grand Opening & Ribbon Cutting Ceremony Highly anticipated by the local community, the previously troubled property has undergone a dramatic transformation and will hold their public grand opening on September 9th. Cincinnati, OH, September 08, 2016 --(PR.com)-- Penklor and DMG purchased the property formerly known as Piccadilly Apartments in early 2016 for more than $6.1 million. Located in a desirable spot just off Beechmont Avenue in Union Township , Penklor and DMG saw the potential of the run-down collection of buildings and, after completing intense negotiations for the purchase, immediately began a full renovation. Construction is complete and the complex, now named Stone Creek Apartments , is holding a community grand opening and ribbon cutting ceremony on Friday, September 9th. Community members, local businesses, Union Township officials , and future residents have been ...

September 8th, 2016    Author: Administrator    Filed Under: Community Penklor and DMG purchased the property formerly known as Piccadilly Apartments in early 2016 for more than $6.1 million. Located in a desirable spot just off Beechmont Avenue in Union Township , Penklor and DMG saw the potential of the run-down collection of buildings and, after completing intense negotiations for the purchase, immediately began a full renovation. Construction is complete and the complex, now named Stone Creek Apartments , is holding a community grand opening and ribbon cutting ceremony on Friday, Sept. 9. Community members, local businesses, Union Township officials , and future residents have been invited to attend. Starting at 1 p.m., festivities will include tours of the property, a community meet and greet, leasing specials, and light refreshments. The ribbon cutting ceremony will take place at 2 p.m. at the community clubhouse. “We’re excited to welcome the community into Stone Creek to ...

Jean apartment community in Baton Rouge, La., will be renovated and renamed The Reserve at White Oak following significant damage from a flood in 2016." /> The 624-unit St. Jean apartment community in Baton Rouge, La., will be renovated and renamed The Reserve at White Oak following significant damage from a flood in 2016. BATON ROUGE, LA. — Atlanta- based Audubon Communities , in conjunction with New York- based RCG Longview , has purchased St. Jean, a 624- unit apartment complex in Baton Rouge, for $33.3 million. The property will be renovated and renamed The Reserve at White Oak following significant damage from a flood in 2016. Constructed in 1997, the property comprises 66 buildings on 49 acres and includes two- and three- bedroom units averaging 1 ,100 square feet. Planned capital improvements include the complete renovation of damaged first-floor units, upgrades to second-floor units, the addition of granite countertops and stainless steel appliances in some units,...