Valuations on distressed properties as of midyear 2024 have declined an average of 43% from their original issuance, CRED iQ reported. The decline has increased by 140 points from six months ago. By valuation grouping, distressed properties valued at less…
Rise48 Equity acquired two Charlotte rental communities, the W Flats Apartments (247 units) and Matthews Pointe Apartments (100 units). Both properties will be rebranded to “Rise Blue Ridge” and “Rise Matthews Pointe,” respectively. These acquisitions mark the company’s 52nd and…
Mesa Capital Partners has acquired a 282-unit apartment complex in West Midtown Atlanta. The company paid $70.5 million for The Mill at Westside, which was sold by Starlight Investments. The Atlanta Business Chronicle reports that the property last sold for…
A Jacksonville developer is defining its project as regenerative placemaking. The developer, Future of Cities (FoC) has received a $5.5 million incentive package and a rezoning from the city to build a 10-building innovation hub as well as an 830-unit…
Cantor Fitzgerald and Silverstein Properties have entered into a joint venture with Turnbull Development to develop a mixed-use project in Summerville, SC, encompassing 365 garden-style multifamily units across three buildings and a 40,000-square-foot medical office building in a qualified opportunity…
Woodfield Development secured a $53.7 million senior loan for Margaux Midtown, a luxury apartment community in Nashville, Tennessee. BWE’s provided financing, which was structured by Adam Bieber and Alec Jenkins from BWE’s Washington, D.C. office. Delivered in 2023, Margaux is a luxury…
By the end of the year, the Catalyst Fund will have $90 million to lend to for-profit and nonprofit entities to build affordable housing in Nashville. The fund reports that it believes it can create or preserve 3,000 affordable housing…
Starwood Capital Group sold the Turtle Cove apartments just outside West Palm Beach to Brookfield Properties for $107.5 million. Starwood sold the 444 apartments at 825 Cotton Bay Drive East for $242,072 per unit. The apartment community last traded for…
Becovic Residential, a Chicago-based multifamily owner and operator, has added two apartment communities to its Edgewater offerings. The Winthrop House, located at 5718 N. Winthrop, was purchased for $10.25 million. The Kenmore Commons property, located at 6134 N. Kenmore, was…
The California Business Properties Association said Friday the U.S. Supreme Court’s ruling that cities can enforce bans on homeless people sleeping outdoors will provide new tools and help California leaders and law enforcement address homeless encampments, in conjunction with providing…
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