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The Hunter in Colorado Springs, Colorado
ColoradoDevelopmentNewsWestern

Formativ, Argosy Real Estate Partners Receive Financing to Construct The Hunter in Colorado Springs, Colorado

by Channing Hamilton

COLORADO SPRINGS, COLO. — A joint venture between Formativ and Argosy Real Estate Partners has secured construction financing for The Hunter, a 214-unit development in Colorado Springs’ New South End neighborhood. Rob Bova of JLL Capital Markets led the team that arranged the loan. The Hunter will offer studio, one- and two-bedroom floor plans. Amenities include a two-story tenant lounge, golf simulator, pool, fitness center, co-working space, bike storage, dog wash station and a parking garage. The seven-story building will be completed in late 2024.

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CaliforniaFinanceNewsWestern

California Landmark Receives $24.6 Million to Refinance Woodlark Residences in Larkspur, California

by Channing Hamilton

LARKSPUR, CALIF. — California Landmark has secured $24.6 million to refinance Woodlark Residences, an 80-unit community in Larkspur. Greg Reed, Kristen Croxton and Tina Quirin of Capital One arranged the five-year fixed-rate Freddie Mac loan. California Landmark acquired the property in 2014 and has since invested $3.7 million toward capital improvements, including renovations to all units as well as common areas and amenities. According to Apartments.com, the community currently offers amenities such as a pool, fitness center, grill and picnic area, a lounge and internet access.

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VOX at Cumulus in Los Angeles
CaliforniaDevelopmentNewsWestern

Carmel Partners Opens 14-Acre, 910-Unit VOX at Cumulus in Los Angeles

by Channing Hamilton

LOS ANGELES — Carmel Partners has completed the development of VOX at Cumulus, a 14-acre mixed-use community in Los Angeles on the site of the former Cumulus radio station towers.  VOX at Cumulus includes 910 apartment and townhome units, including studios and one-, two- and three-bedroom floor plants. The property also offers 100,000 square feet of retail space anchored by a Whole Foods Market. The project development team also included TCA Architects (architects), DCI (structural engineering), AMPAM (plumbing), PSOMAS (civil), DFDA (mechanical), Seal Electric (electrical) and MLA (landscaping).

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The Aronson in Fayetteville, Arkansas
Build-to-RentDevelopmentFeaturesMidwestNewsNortheastSoutheastTexasWestern

RentCafe: Number of New Build-to-Rent Projects is Skyrocketing

by Channing Hamilton

The construction of new build-to-rent (BTR) homes hit a record in 2022, with more than 14,500 houses completed, according to a RentCafe analysis of Yardi Matrix data. This is a 47 percent increase in deliveries from 2021.  Now, approximately 44,700 BTR homes are under construction across America, triple the number of new homes completed in 2022. Prior to 2020, RentCafe notes, only about 6,000 BTR units were completed annually. RentCafe cited data from the firm’s sister company, Yardi Matrix. The data includes properties defined as single-family homes for rent that are in build-to-rent, …

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BerkadiaBerkadia FeatureBuild-to-RentContent PartnerDevelopmentFeaturesIndustry ContentLeasing & MarketingMidwestNortheastSoutheastTexasWestern

Single-Family Rental, Build-to-Rent Sector Increases Supply Volume, Attracts Institutional Capital

by Sarah Daniels

By Jeff Coles, Berkadia Over the last 15 years, even during the Great Recession, single-family rentals continued to deliver excellent returns through appreciation and rental income. As demand for the sector has increased significantly, driven by changing migration patterns, many investors are shifting their investment strategies to include single-family rental/build-to-rent homes (SFR/BTR), also referred to as built for rent (BFR) houses. Development and Interest in SFR/BTR Despite recessionary rumors, development is continuing, often undertaken by some of the leading developers in the for-sale single-family market. Also, institutional investors have shown …

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Village at Pioneer Park in Peoria, Arizona.
ArizonaBuild-to-RentDevelopmentFinanceNewsWestern

Empire Group Secures $120.5 Million in Financing for Two BTR Communities Near Phoenix

by Channing Hamilton

PEORIA AND GLENDALE, ARIZ. — Empire Group has secured $120.5 million in financing for two build-to-rent (BTR) communities in the Phoenix metropolitan area. Kyle McDonough and George Maravilla of Tower Capital arranged the financing on both deals. The Scottsdale, Arizona-based developer received a $78.5 million bridge loan to refinance Village at Pioneer Park, a 332-unit BTR community in the northwestern Phoenix suburb of Peoria. Built in 2022, the community includes amenities such as a clubhouse, pool, fitness center, pet wash station and dog park. Empire Group also received $42 million …

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McComber Creek Apartment Homes in Buena Park, California.
CaliforniaInvestment SalesNewsWestern

The REMM Group Acquires 1,000 Units Across Eight Properties in Southern California

by Channing Hamilton

SANTA ANA, CALIF. — The REMM Group, a property management company headquartered in Santa Ana, has acquired eight Southern California properties totaling over 1,000 units. The largest of the properties is McComber Creek Apartment Homes, a 348-unit community in Buena Park, California. McComber Creek offers studio, one- and two-bedroom apartments, as well as amenities such as a pool and two tennis courts.  The other seven properties include: Villa Creek Apartment Homes in Cypress, California; The Jagger in Los Angeles; Pasadena Village Apartment Homes in Tustin, California; Fountain Park Apartment Homes in Buena …

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South Pier at Tempe Town Lake in Tempe, Arizona
ArizonaDevelopmentFinanceNewsWestern

McBride Cohen Secures $53.2 Million in Financing for South Pier at Tempe Town Lake in Tempe, Arizona

by Channing Hamilton

TEMPE, ARIZ. — The McBride Cohen Co. has secured a $53.2 million mezzanine debt investment to develop the first phase of South Pier at Tempe Town Lake, a waterfront project on Tempe Town Lake in Tempe. The mezzanine debt investment loan was originated by Pearlmark on behalf of Pearlmark Mezzanine Realty Partners and a commingled investment vehicle managed by Waterton. Pearlmark is a Chicago-based investment firm that targets domestic core to value-add real estate opportunities. Waterton is a property investment and management company with a focus on multifamily, senior living …

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ColoradoFinanceNewsPeople NewsWestern

Tower Capital Adds Kevin Wieland to Leadership Team in Denver

by Channing Hamilton

DENVER — Kevin Wieland has joined Tower Capital as a Senior Vice President. In this role, Wieland will arrange debt and equity capital for investors to acquire, develop, reposition or refinance commercial projects in the Rocky Mountain Region and key West Coast markets. Wieland previously served more than 13 years at LaSalle Investment Management, where he was responsible for originating, sourcing, structuring, underwriting, and closing more than $1.3 billion in debt investments. He also held positions at Wells Fargo, CIM GROUP and Cushman Realty Corp. Wieland received a bachelor’s in …

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Affordable HousingCaliforniaNewsOperationsPeople NewsWestern

Alta Housing Adds Stephanie Shipe as Vice President of Property Management

by Channing Hamilton

PALO ALTO, CALIF. — Alta Housing has selected Stephanie Shipe as Vice President of Property Management. In this role, Shipe will manage over 1,000 units and a team of 35 professionals. Shipe previously served as the Director of Portfolio Management for the Housing Authority of the City of Alameda, California. Prior to this, she served as Director of Operations at MidPen Housing, a non-profit developer, owner and of affordable housing in California and was appointed to the City of Alameda Housing Authority’s Board of Commissioners. Shipe received a Bachelor of Science …

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