Thorofare Capital and Pearlmark combined to raise $40 million in financing so Grubb Properties could build out Link NoDa Phase II apartments in Charlotte. Thorofare originated $30 million for the construction loan, Pearlmark $10 million in mezzanine debt. A CBRE…
Daniel Corp. has acquired two parcels at 306 N. Graham St. and 420 W. Sixth St. in Uptown Charlotte that have been on the market for three years. The Atlanta Business Chronicle reports the developer paid $9 million for the…
Amid an overall four-basis-point decline in CRED iQ’s distress rate, multifamily posted an 80-bp increase in February, the analytics firm reported. It was the largest monthly increase in that sector in more than 18 months. As an example of issues…
Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of two properties in Chicago’s Greater Grand Crossing and Chatham neighborhoods. The transactions included the sale of 6800-6802 S. Indiana Avenue, a 16-unit apartment building, and 8001-05 S….
Bisnow/Jon Banister Carlyle co-founder and co-Chair David Rubenstein in conversation with Cushman & Wakefield Executive Vice Chairman Darian LeBlanc at Bisnow’s 2023 D.C. State of the Market. An investment firm backed by Carlyle Group co-founder David Rubenstein has launched a new fund…
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…
NAI Hallmark has announced the sale of The Park at River City for $7.5 million. The 104-unit multifamily property is located at 10621 Monaco Drive, Jacksonville, FL. Senior Vice President John Rutherford and Vice President Luke McCann brokered the transaction…
Trilogy Investment Company and Pinnacle Partners are delivering their second joint Opportunity Zone build-to-rent community project. The North Davidson (NoDa) project brings the organizations’ best-in-class development capabilities in a strong location to expedite construction of market-driven housing solutions. Targeting Opportunity…
Houston is the only Texas metro with growing multifamily rents at the moment. But seeing its apartment market as in the clear would require rose-colored glasses. Houston’s multifamily rental rate has grown 1.2% in the last year, according to a July report from MRI ApartmentData,…
Multifamily investment specialist Bell Partners has closed on a fund that will give it the ability to acquire roughly $3.2B of properties across the country. The North Carolina-based firm closed its Value-Add Fund VIII at $1.3B, above its target of…
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