As New York City led in 2024 CMBS conduit issuance for multifamily properties, so it is also leading an increase in multifamily conduit delinquencies, Kroll Bond Rating Agency reported. The overall KBRA distress rate for apartment-backed conduit loans, which includes…
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $148-million construction loan for Sutphin II, a planned 524-unit luxury high-rise apartment building in the Jamaica neighborhood of Queens. Steven Hersko of the SHB Group arranged the loan on behalf…
PGIM Real Estate provided a $82 million floating rate loan on behalf of MetLife Investment Management and StreetLights Residential to refinance Mira at Midtown Union, a multifamily property located at 1301 Spring St NW in Atlanta. The 26-story high-rise property…
Canyon Partners Real Estate LLC, Ascendant Capital Partners and Bond Companies have formed a joint venture to support the development of Inspire Sonoran Desert, a 560-unit, Class A multifamily community in the North Valley submarket of Phoenix. Kennedy Wilson provided…
RIPCO Real Estate closed the sale of 88-56 162nd St. for $18.8 million, marking the largest new construction multifamily building sale in the Special Downtown Jamaica District since its 2007 neighborhood-wide rezoning. Measuring 49,264 square feet, the seven-story building features 51…
Berkadia and NYU | Stern partnered recently to create a new opportunity for students at top business schools across the U.S. During the inaugural Multifamily Investment Case Competition, held from Nov. 14-16 at New York University Stern School of Business,…
Brookfield Properties joined a wave of investors banking on an impending resurgence in apartment demand with an $845M purchase of multifamily properties in Nevada, North Carolina, Arizona and Ohio. Brookfield Properties bought eight multifamily properties from Blackstone REIT, including Monaco…
Vista Residential Partners obtained a $43.6 million construction loan to build a 320-unit apartment complex in Charlotte, at 8011 Krenfeld Dr. A JLL Capital Market’s Debt Advisory team led by Matthew Schoenfeldt, secured the three-year, non-recourse floating-rate construction loan through…
Several large deals unveiled this summer suggest that the lull in multifamily capital markets is nearing an end and providing a clear signal that the next liquidity cycle has started, said Tyler Sullivan, who leads JLL’s multifamily capital markets research division. In…
Newmark closed the $16.15-million sale of a multifamily portfolio, known as Westside Trio. Located in highly sought-after neighborhoods of West Los Angeles, the portfolio sold for a blended price per unit of $425,000 and blended price per foot of $573….
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