A joint venture between Coastline Management and Tower Capital Group paid $33.2 million for an apartment complex in Miami Gardens. EB Real Estate Group, an investment firm in New York, sold the 234-unit Park Plaza Apartments for about $142,000 per unit, according to a press release. Berkadia's Tal Frydman, Yoav Yuhjtman and Nicholas Perrone represented the buyer and seller. Freddie Mac provided a $25.4 million loan. Property records show EB Park Plaza LP paid $22.7 ... [more]
Penzance enters the private equity business, targeting a portfolio size of $800 million to $1 billion for the fund. : Real estate owner, operator and developer Penzance has closed its first real estate private equity fund. The Penzance DC Real Estate Fund LP ("Fund I"), with total equity commitments of $255 million, was launched to target value-add investments in D.C.-area residential, commercial and mixed-use real estate. The discretionary fund's investor base includes a diverse mix of institutional investors. They include endowments, foundations and family offices.
China restricts foreign investment more than the EU in every sector except real estate, according to a report by the Rhodium Group consultancy.
The Ritz-Carlton Kapalua on Maui has been sold to an affiliate of the same investment group that purchased the Grand Wailea resort earlier this year. Blackstone Real Estate Partners, an ... Click to Continue >>
Hunt Real Estate Capital Refinances a Manufactured Housing Community Located in Boulder, Colorado -- Total funding equals $39 million -- PR Newswire NEW YORK, Oct. 19, 2018 NEW YORK, Oct. 19, 2018 /PRNewswire/ -- Hunt Real Estate Capital, a leader in financing commercial real estate throughout the United States, announced today it provided a Fannie Mae conventional multifamily loan in the amount of $39 million to refinance a manufactured housing community located in Boulder, Colorado. The loan has a ten-year term with a thirty-year amortization period and 114 months yield maintenance.
Amazon is revisiting some of the finalist cities for its second headquarters location, the Wall Street Journal reported. Forbes details where it is cheaper to rent than buy. These are among today's must reads from around the commercial real estate industry.
The manager has acquired a student and apartment building from Ansorg Development. : Commerz Real's capital management business has bought a residential complex in Berlin for its open-ended special real estate fund The manager said, through a forward funding deal, it has acquired a student and apartment building in Berlin-Friedrichshain for Commerz Real Institutional Smart Living Europe Fund from Ansorg Development. Commerz Real has initially bought the plot of land with an obligation to build and then gradually pays for the real estate in line with construction progress. Financial details were undisclosed.
Boston-based Muirfield Investment Partners, a private equity real estate firm, has named Arthur Bavelas to its advisory board. Bavelas is the CEO of Bavelas Group. In 1998, he founded Family Office Insights to [...]
Logistics Property Company plans to grow its portfolio to $5 billion in logistics assets under management over the next five years.