property type: Multifamily

Monthly rents at multifamily properties increased in September by $16/unit, or 1 percent from the previous month to $1,558/unit. That's the smallest monthly increase since last May, when they grew by only $12/unit, or 0.8 percent, according to Yardi Matrix.

Commercial Real Estate Direct Staff Report Bayshore Investment Partners has paid $40.5 million for two apartment properties with a total of 200 units in Brandon, Fla., a Tampa, Fla., suburb. The Miami investor paid $22.45 million, or $200,446/unit, for the ...

Hamilton Zanze has lined up $39.9 million of Freddie Mac financing against Enchanted Springs, a 200-unit apartment property in Colorado Springs, Colo. KeyBank Real Estate Capital provided the loan. It has a 10-year term and requires only interest payments for ...

The Real Deal A venture of Monadnock Development, the Sisters of Charity Housing Development Corp. and the Master Group is planning to build a 360-unit affordable-housing project in Staten Island, N.Y. The property is being planned for a vacant lot ...

The Real Deal Zara Realty has secured $83 million of construction financing for the 223-unit apartment building at 153-10 88th Ave. in Queens, N.Y. Emigrant Bank and Arbor Realty Trust provided the debt, which was arranged by JLL. Zara, a ...

AZ Big Media An affiliate of Sears Financial Corp. has broken ground on the Alexander, a 209-unit apartment property in Marana, Ariz. The Tucson, Ariz., company is building the property at 3915 West Aerie Drive, about 12 miles northwest of ...

Local developers Dirk Erickson and John and Marcia Bouquet have secured $31.22 million of financing for the construction of BRYK on Broadway, a 180-unit affordable-housing property in Rochester, Minn. NorthMarq arranged the loan, which was provided by a credit union. ...

Rockwood Capital has paid $29.8 million, or $425,714/unit, for the 70-unit apartment property at 333 Central Ave. in Westfield, N.J., about 25 miles southwest of Manhattan. The San Francisco investment manager bought the property from a venture of Claremont Development ...

Bisnow Bank of America has provided $69 million of construction financing against a 198-unit apartment project in Bethesda, Md. Washington Property Co., a Bethesda real estate company, is developing the 22-story property and plans to break ground on the project ...

The Highlands Ranch, Colo., REIT has paid $115 million for the 320-unit Smith Valley Forge Apartments in King of Prussia, Pa. It funded the acquisition by tapping a line of credit, but expects to take that out with proceeds from ...