Friday, November 22, 2024
Read the Digital Magazines Subscribe to the Newsletter

Western

Ray Phoenix in Phoenix
ArizonaDevelopmentFinanceNewsWestern

JLL Capital Markets Arranges $120 Million Construction Financing for Ray Phoenix in Phoenix

by Channing Hamilton

PHOENIX — JLL Capital Markets has arranged $120 million in construction financing for Ray Phoenix, a 26-story building in downtown Phoenix. JLL worked on behalf of the borrowers, Ray and VeLa Development Partners, to secure the loan through an affiliate of RXR Realty Investments LLC. Michael Gigliotti, Brad Miner, Elle Miraglia and Frank Choumas led the JLL Capital Markets Debt Advisory team. Ray Phoenix will offer 401 units in studio, one- and two-bedroom floor plans. The community will also feature 20,000 square feet of amenity space, including a fitness center, yoga …

Continue Reading
0 FacebookTwitterLinkedinEmail
Kanvas in Los Angeles
CaliforniaFinanceNewsWestern

Priority Group Brokers $21.6 Million Recapitalization for Kanvas in Los Angeles

by Channing Hamilton

LOS ANGELES — Priority Capital Advisory (PCA) has arranged $21.6 million in financing for the recapitalization of Kanvas, a 67-unit community in Los Angeles’ Koreatown submarket. Zachary Streit of PCA arranged the financing through BOLOUR. EGC Real Estate Group was the borrower.  The unit mix includes 13 studios, 33 one-bedroom and 21 two-bedroom apartments. Seven units are set aside as affordable. Amenities include a rooftop amenity deck, fitness center, courtyard, storage space, bicycle parking and underground and surface vehicle parking. The property also includes 1,105 square feet of ground-floor retail space.

Continue Reading
0 FacebookTwitterLinkedinEmail
Two Fourplexes on 22nd St. in Huntington Beach, California
CaliforniaInvestment SalesNewsWestern

CBRE Brokers Sale of Two Fourplexes in Huntington Beach, California, for $5.4 Million

by Channing Hamilton

HUNTINGTON BEACH, CALIF. — CBRE has arranged the sale of two properties in Huntington Beach: a fourplex at 321 22nd St. and the adjacent fourplex at 317 22nd St. Both assets sold for $2.7 million, resulting in a combined sales price of $5.4 million. Dan Blackwell and Mike O’Neill of CBRE represented both the buyer and seller in the two deals. The buyer was a private investor based in Westminster, California. The seller was based in Huntington Beach.  Built in 1972, each of the two buildings spans 4,101 square feet. …

Continue Reading
0 FacebookTwitterLinkedinEmail
ColoradoDevelopmentFinanceNewsWestern

BWE Arranges $39.4 Million Construction Financing for 199-Unit Project in Pueblo, Colorado

by Channing Hamilton

PUEBLO, COLO. — BWE has negotiated a $39.4 million HUD 221(d)(4) loan to facilitate the construction of Pueblo Springs, a 199-unit community in Pueblo. James Swanson of BWE’s Phoenix office originated the non-recourse, fully assumable loan, which features a 40 year, fully amortizing term. Pueblo Springs will offer amenities such as a clubhouse, fitness center, business center, community room, bike storage, pool, BBQ and picnic areas, walking paths, 24-hour emergency staff, and gated entry. The borrower and developer was Arizona-based ESH Development LLC. Colorado Structures Inc. is the general contractor …

Continue Reading
0 FacebookTwitterLinkedinEmail
Millennium East in Las Vegas
Investment SalesNevadaNewsWestern

Northmarq Brokers $52.7 Million Sale of Millennium East in Las Vegas

by Channing Hamilton

LAS VEGAS — Northmarq has arranged the sale of Millennium East, a 236-unit community in Las Vegas’ Sunrise Manor area. A Massachusetts-based property manager sold the asset to a California-based real estate investment company for $52.7 million. Thomas Olivett of Northmarq’s Las Vegas multifamily investment sales team represented the seller in the deal. Bryan Mummaw, Bryan Liu, Brandon Harrington, Tyler Wood and Chris Gitibin of Northmarq’s debt and equity team secured $33.5 million in acquisition financing for the buyer. The permanent, fixed-rate loan was arranged through Freddie Mac. Millennium East …

Continue Reading
0 FacebookTwitterLinkedinEmail
North Mountain Foothills in Phoenix
ArizonaFinanceNewsWestern

Tower Capital Brokers $23.1 Million Refinancing for North Mountain Foothills in Phoenix

by Channing Hamilton

PHOENIX — Tower Capital has arranged $23.1 million in permanent financing for the refinance of North Mountain Foothills, a 194-unit community in Phoenix. The borrower was an undisclosed repeat client of Tower Capital. North Mountain Foothills is situated at 1943 W. Aster Dr. The property was converted from a condominium after the borrower began purchasing the units between 2010 and 2012. The borrower has since renovated the interior and exterior of the property, along with significant mechanical, electrical and plumbing upgrades.

Continue Reading
0 FacebookTwitterLinkedinEmail
Benjamin Square in Eaton, Colorado
Affordable HousingColoradoInvestment SalesNewsWestern

JLL Brokers $5.8 Million Sale of Affordable Housing Community in Eaton, Colorado

by Channing Hamilton

EATON, COLO. — JLL Capital Markets has arranged $5.8 million in financing for Benjamin Square, a 60-unit affordable housing community in Eaton. Benjamin Square consists of 10 buildings. The property was completed in 1979 and 1980. Apartments come in one-bedroom layouts. Amenities include a laundry room, community lounge and covered gazebo. JLL represented the borrower, Brikwell, to secure the fixed-rate senior loan through Freddie Mac Multifamily. Brikwell was also able to renew and extend the community’s Project-Based Section 8 HAP contract prior to acquisition and loan closing, allowing the property to …

Continue Reading
0 FacebookTwitterLinkedinEmail
Le Chateau Apartments in Anaheim, California
CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Brokers $27.5 Million Sale of Le Chateau Apartments in Anaheim, California

by Channing Hamilton

ANAHEIM, CALIF. — Marcus & Millichap has arranged the sale of Le Chateau Apartments, a 76-unit asset in Anaheim. The asset traded hands for $27.5 million. Tyler Leeson, Matt Kipp and Nicholas Kazemi of Marcus & Millichap represented the seller in the deal, while Drew Holden procured the buyer. Le Chateau Apartments was built in 1964. The community offers apartments and townhome-style units in two-bedroom floor plans. Amenities include four on-site laundry facilities, a clubhouse and gated garage.

Continue Reading
0 FacebookTwitterLinkedinEmail
The Livano Deer Valley in Phoenix
ArizonaInvestment SalesNewsWestern

Institutional Property Advisors Brokers $64 Million Sale of The Livano Deer Valley in Phoenix

by Channing Hamilton

PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Livano Deer Valley, 242-unit community in Phoenix. The Praedium Group acquired the property from LIV Development for $64 million. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer. The Livano Deer Valley was completed in 2023. Amenities include a clubhouse, centralized courtyard with a pool and spa with sundeck. Units feature nine-foot ceilings, stainless-steel appliances, walk-in closets and full-size washers and dryers. The average unit size is 821 …

Continue Reading
0 FacebookTwitterLinkedinEmail
Beachwood Apartments in Huntington Beach, California
CaliforniaInvestment SalesNewsWestern

CBRE Brokers $8.7 Million Sale of Beachwood Apartments in Huntington Beach, California

by Channing Hamilton

NEWPORT BEACH, CALIF. — CBRE has arranged the sale of Beachwood Apartments, an 18-unit community in Huntington Beach. The asset traded hands for $8.7 million. Dan Blackwell and Mike O’Neill of CBRE represented both the buyer and seller in the deal. The seller was a repeat client based in Huntington Beach, California. The buyer was an undisclosed private investor headquartered in Fountain Valley, California. Beachwood Apartments was built in 1971 at 125 16th Street. The community totals 0.4 acres across six lots. Units come in one-, two- and three-bedroom floor …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2024 France Publications, dba France Media Inc.