property type: Multifamily
Stellar Buys DC-area Apartment Complex
The purchase of Berkshire Towers marks Stellar's first in the Washington D.C. market. The 1,119-unit apartment complex was capitalized with $110 million of debt from a bank syndicate and $36 million of equity from a high net worth investor.
Insurance Lack Might Halt Lofts Project in Albuquerque, NM
May 6, 2003 Albuquerque Business JournalA scarcity of general liability insurance coverage and skyrocketing premiums will soon cause a slowdown or an outright halt in the public/private Lofts at Albuquerque High and related multifamily construction projects at Broadway and Central ...
NC Apartments Hit the Sales Block
May 6, 2003 A partnership headed by Prudential has hired Rockwood Realty Associates LLC to market for sale Autumn Park, an upscale apartment community in Charlotte, N.C.No asking price could be learned, but apartment properties in the Charlotte area have ...
Coral Reef Hotel in Hawaii to Go Condo
May 6, 2003 Pacific Business JournalAndre Tatibouet, manager of Coral Reef Development LLC, said Monday the Coral Reef Hotel, at Kuhio Avenue and Duke's Lane in Honolulu next to the International Marketplace, will be converted to 247 condominium apartments in ...
Related Provides Equity for Rehab of Detroit Apartments
May 6, 2003 Related Capital Co. has made a $9.1 million equity investment in two affordable housing properties in the Detroit area.The New York company's equity was combined with a total of $23.1 million of tax-exempt bond financing from the ...
Conn. Apartments Sell for $35.6Mln
May 6, 2003 An upscale apartment complex in suburban Hartford, Conn., has changed hands for $35.6 million, or $117,500/unit.The property, Waterford Commons, at 701 Tolland Turnpike in Manchester, was brokered by Marcus & Millichap Investment Real Estate Services' New Haven, ...
Apartment Complex in Little Rock, Ark., Sells for $4Mln
May 6, 2003 Arkansas Business (First Item)William Tull has purchased the 141-unit Chateau West Apartments at 6310 Asher Ave. in Little Rock, Ark., from Winn Revocable Management Trust for $4 million. The deal is financed in part with a five-year ...
Ariz. Apartments Get $24Mln Loan
May 5, 2003 Wachovia Securities has provided $24.75 million of permanent financing for Arrowhead Highlands Apartments in Glendale, Ariz.Rocco Mandala of L.J. Melody & Co.'s Phoenix office arranged the loan on behalf of Mark Taylor Development, a multifamily developer in ...
UPS may Invest $20Mln in St. Louis Building
May 5, 2003 St. Louis Business JournalUPS is considering buying nearly $20 million worth of historic tax credits to become the sole equity investor in the redevelopment of the St Louis Paul Brown Building into 222 apartments.
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