A new nontraded multifamily REIT was born this week as part of a $617M recapitalization of more than 60 properties, including an under-construction apartment tower in Manhattan. Grubb Properties’ 8 Carlisle St. multifamily project is expected to top out this…
Blue Ridge sold the Reserve at Jacksonville Commons apartment complex in Jacksonville for $54 million. The buyer was Southwood Realty. The Reserve at Jacksonville Commons, which has 384 units, was built in the early 2000s and features one-, two- and…
The multifamily construction pipeline has taken a nosedive to numbers that haven’t been seen in a decade and a half, according to Apartments.com and CoStar. Roughly 55,000 units broke ground across the U.S. during the first quarter, the lowest quarterly…
Knighthead Funding in partnership with Speedwagon Capital Partners arranged a $27 million refinancing for Signature Music Row – a newly constructed 105-unit Class A multifamily property located at 1005 16th Avenue South in Nashville, Tennessee. Preiss utilized the loan to…
Trevato Development Group, a sister company of Block One Ventures, closed on a $78 million refinance of The Station at San Marco, a 345-unit multi-family project in Jacksonville, Florida, with a nationally known insurance company. The refinance provides Trevato with a…
Beachwold Residential inked a $50.5 million first mortgage loan to refinance a 308-unit garden-style apartment community in Jacksonville, FL. The financing was led by Mesa West Capital’s Russell Frahm and Brad McCarthy. The loan was arranged by Taylor Williams of Walker…
Private equity investment is gobbling up an increasing share of apartment units, now accounting for at least a tenth of all ownership in the United States, with most of it concentrated in the Sun Belt region. Multifamily Apartment Building Private equity…
Renters are increasingly choosing to stay put rather than venture into the unknown, where elevated home prices and broader economic volatility await. Apartments are staying full longer as high mortgage rates and limited inventory keep renters in place. Historically, about…
Sagard Real Estate acquired Grande Oaks, a 270-unit garden-style apartment community located in Roswell, Georgia. Starwood Capital Group was the seller. Commercial Edge reports Starwood initially purchased the community in 2021 for $77.7 million. Sagard plans to execute a value-add…
Historic West End Partners has amassed several parcels on West Trade Street, allowing the company to pursue a mixed-use development that’s expected to be anchored by a grocery store. Historic West End Partners will collaborate with Chotomy, the development arm…
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