VP Tom Papoulias of Coldwell Banker Commercial West arranged the sale of the Seville Gardens Apartment Community, a 225-unit senior housing apartment complex located at 2701 Randolph St. in Huntington Park The transaction closed at $33,750,000. Papoulias represented the seller, Seville Gardens,…
SL Green Realty Corp. announced the sellout of the exclusive Giorgio Armani Residences on Manhattan’s Upper East Side. All 10 residential units within the luxury condominium project are now under contract for gross consideration totaling $168.2 million. The sales are…
The distress rate on apartment loans with CMBS financing has increased 185% year to date, according to CRED iQ. Loans in the multifamily sector began 2024 with a 2.6% distress rate—a composite of the special servicing and delinquency rates—and now…
Childress Klein is asking the city of Charlotte to rezone a 213,000 square foot office property at 2101 Rexford Road so it can redevelop the property into a mixed-use venture. If the developer gets its way, the property, Esplanade at SouthPark…
The Paces Foundation and Soho Housing Partners opened The Legacy at Carr Heights Senior Apartments, a 120-unit affordable senior housing community in Charlotte, N.C. A number of other agencies collaborated on the project. Commercial Edge reports the financing for the…
Capital Square will open its 20-story mixed-use building at the corner of Dawson and Lenoir streets near Red Hat Amphitheater in February 2025. The tower, named Maeve, has 297 apartments,10,500 square feet of ground-floor retail and an 8-level parking deck. The units…
A Sprouts Farmers Market Inc. will soon open at the base of a 383-unit apartment complex in Charlotte. The project is called One NoDa Park and is situated at the intersection of 36th and North Tryon Street. The 21,000-square-foot store…
Seattle Mayor Bruce Harrell recently signed a proposed bill that would promote the conversion of vacant and underused buildings into affordable housing. The measure would help developers looking to convert existing buildings from commercial to residential uses. The proposed changes…
Standard Communities headed a group of partners that picked up a 100% affordable multifamily project in Shelby, NC. The company paid $16.4 million for the Laurel Hill Apartments at 1526 Eaves Road in Cleveland County. Funding for the Laurel Hill…
Peach Hill Capital and RK2 Property Group acquired Georgetown Crossing, a 168-unit Class B garden-style apartment community in Savannah, for $25.6 million and plan to renovate it as soon as possible. Built in 1994, 103 of the units have not…
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