An entity affiliated with San Francisco-based FPA Multifamily has acquired The Atrium on James apartments in Kent for $60.5 million, or $201,667 per unit. Institutional Property Advisors (IPA)‘s Giovanni Napoli, Philip Assouad, Ryan Harmon, Nicholas Ruggiero, and Anthony Palladino represented…
Prime multifamily metrics continued increasing in the fourth quarter of 2023, CBRE said Friday. Unlevered IRR targets, going-in cap rates and exit cap rates all experienced a slight increase in Q4. Going forward, improved underwriting metrics are expected to lead…
The California Apartment Association (CAA) warned members about an upcoming statewide ballot measure, the Justice for Renters Act. If approved, CAA said, it would represent “an existential threat” to rental housing providers and “from a ballot measure that could overturn…
A building housing an Academy Sports + Outdoors in Brenham has sold for $10.26 million. SRS Real Estate Partners completed the sale of a newly developed 63,224-square-foot single-tenant retail property occupied by the sporting goods giant. The property has a…
The Trepp CMBS Special Servicing Rate dropped by six basis points in December 2023, falling to 6.78%. However, the long-term trend is still up: Trepp said the special servicing rate closed out 2023 with a total increase of 167 bps…
Hines has advanced its plans for Clari Park, a 78-acre mixed-use destination located in Murfreesboro, Tennessee. As part of the development’s first phase, Hines acquired an 11.4-acre land parcel and commenced construction on a Class A 300-unit multifamily community, The…
Greystone Monticello, a bridge lending program and provider of capital finance products, has provided a $36.3 million bridge loan for a 226-unit student housing property in Bloomington, Indiana. Greystone intends to transition the property to a permanent exit with HUD-insured…
Northmarq represented the seller of The Park at Fenentino, an affordable rental community in Charlotte. A team led by Andrea Howard represented Stonecutter Capital. The buyer was non-profit housing fund, Community Solutions. Built in 1980, the 216-unit complex sold for $30.8M,…
Landmark Properties acquired a 15-acre site near the University of Colorado Boulder (CU Boulder). The firm will begin construction on The Standard at Boulder, a 936-bed student housing community. The project caps off approximately $700 million in year-end transactions for Landmark in 2023. The…
Harrison Street closed the sale of Epoch Clemson, a 994-bed student housing community positioned on Lake Hartwell near Clemson University in South Carolina, to Inland Real Estate Acquisitions, LLC on behalf of an Inland affiliate. Terms of the sale weren’t disclosed. Valeo Groupe…
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