property type: Multifamily
Northwestern Mutual Lends $65Mln Against Phoenix Apartments
Commercial Real Estate Direct Staff Report Northwestern Mutual Life Insurance Co. has provided $65 million of mortgage financing against Skyline Lofts, a 332-unit apartment property in Phoenix. The 10-year loan, which amortizes on a 30-year schedule, was arranged by Northmarq. ...
Median Monthly Apartment Rent in Manhattan Reaches $4,000 For First Time
Commercial Real Estate Direct Staff Report Median monthly rents for apartments in Manhattan increased in May by 25.2 percent from last year to $4,000, a record level, according to brokerage Douglas Elliman. Net effective average monthly rents, meanwhile, increased by ...
Martha Nay Named to Lead JLL’s Newly Formed Boston Apartment Sales Advisory Team
Martha Nay, who had joined JLL in 2019 when the company had acquired HFF, has been named to head its newly formed multi-housing investment-sales advisory team in Boston. The team's other members are Kellie Coveney and Jacqueline Meagher, both directors ...
$65Mln of Construction Financing Lined up for Bloomington, Minn., Apartment Project
Associated Bank and Old National Bank each has provided $32.5 million of financing for the construction of Carbon 31, a 403-unit apartment property in Bloomington, Minn. The property, at 8100 31st Ave. S., about 11 miles south of Minneapolis, is ...
Hines Buys Salt Lake City Office Property; Conversion to Apartments Planned
Commercial Real Estate Direct Staff Report Hines has acquired South Temple Tower, a 217,000-square-foot office property in Salt Lake City. While the purchase price could not yet be learned, Salt Lake County had estimated its value at $53.9 million. The ...
Logistics Company Fully Leases 90,522-SF Industrial Property in Tempe, Ariz.
AZ Big Media Logistics company KOAM has fully leased the 90,522-square-foot industrial property at 9310 South McKemy St., in Tempe, Ariz. The company was represented in the lease by SIOR, while Cushman & Wakefield represented the owner of the property, ...
Clear Capital Pays $82Mln for Los Angeles-Area Apartments
Clear Capital LLC has paid $82 million, or $353,448/unit, for Foothill Ridge, a 232-unit apartment property in Upland, Calif. The Irvine, Calif., investor purchased the property from Virtu Investments of Larkspur, Calif., which had acquired it in 2018 for $48.25 million. ...
2 Apartment Buildings in The Bronx, N.Y., Trade for $169Mln
Crain’s New York Business Brooklyn, N.Y., investor Mendel Kaff has purchased two apartment buildings with 555 units in The Bronx, N.Y., for $169 million. Kaff bought the properties from Lineage Properties of New York. His Honeywell Towers LLC paid $105 ...
100-Unit Apartment Property in Phoenix Sells for $21Mln
Commercial Real Estate Direct Staff Report Summit on Thomas LLC has paid $21 million, or $210,000/unit, for the 100-unit Rise on Thomas apartment property in Phoenix. The investor group, managed by Jay Trygstad and Teresa Hei of Millbrae, Calif., purchased ...
Kushner Breaks Ground for 2Mln-SF Mixed-Use Building in Jersey City, N.J.
REBusiness Online Kushner Cos. has broken ground for One Journal Square, a mixed-use property in Jersey City, N.J., that will have 1,723 apartment units and 40,000 square feet of ground-floor retail space next to a PATH commuter transit station providing ...
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