Tenants at class-C apartment buildings paid 54 percent of their total rents due for the month by the middle of June, according to LeaseLock.
An Atlanta-based multifamily developer and investor buys a 3-year-old development for $260,211 a unit. : A Delray Beach multifamily community completed three years ago was acquired by An Atlanta-based apartment investor for $73.9 million. Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova. A weekly, curated selection of our international content from around the globe, across the business of law, in-house, regulatory, technology and more, with expert insights from our senior editors.
JLL Capital Markets represented the seller in its disposition of the 224-unit Lincoln. : Six years after beginning construction on The Lincoln, a 224-unit luxury housing community in Raleigh, N.C., Banner Real Estate Group has sold the mid-rise apartment property to an undisclosed high-net worth private investor. The price paid for the 2-acre asset in the historic Moore Square District was not disclosed. JLL Capital Markets represented Banner Real Estate Group, a Northbrook, Ill.-based group of real estate companies that develops, acquires and manages multifamily, senior housing and self-storage properties across the nation.
DENVER -- Apartment Investment and Management Co. (AIV) on Monday reported a key measure of profitability in its second quarter. The results surpassed Wall Street expectations. The real estate investment trust, based in Denver, said it had funds from operations of $93.3 million, or 63 cents per share, in the period. The average estimate of [...]
Cortland Partners paid $73.9 million for the Depot Station apartment complex in Delray Beach, marking one of the largest multifamily deals in South Florida since the start of the pandemic. The Atlanta-based real estate investment firm bought the 284-unit complex at 203 Depot Avenue for $260,211 per unit, records show. Atlanta-based Wood Partners sold the property. Cortland secured a $37 million loan from Walker & Dunlop to acquire the complex, records show. Delray Station consists ... [more] The post Cortland pays $74M for Depot Station apartments in Delray Beach appeared first on The Real Deal Miami.
With their exterior access and outdoor common areas, garden-style apartments hold greater appeal for virus-wary renters. : Long-term success in portfolio building is a function of agility. We're seeing where the market is headed and anticipating where we'll see the greatest demand and most manageable risk. As the commercial real estate market shifts away from retail, it's imperative to pivot toward asset classes that will endure and thrive in the post-COVID-19 marketplace. Moreover, it's essential to look through the curve and lean toward where there are opportunities to create the most value.
The owner of Cervera Real Estate Ventures acquired two apartment buildings near Miami International Airport for $13.2 million, with plans to redevelop the site for a future development project. Javier Cervera Jr. purchased the two-building, 90-unit complex known as Airport Villas at 4325 to 4335 Northwest South Tamiami Canal Drive for $147,000 per unit, according to a press release. MIA Airport Villas LLC, led by Jesper Arnoldsson of SMS Lodging, sold the 67,649-square-foot property. The ... [more] The post Javier Cervera Jr. buys apartment complex near Miami International Airport appeared first on The Real Deal Miami.
Japan leads Asia's real estate news today as a French asset manager makes its latest residential investment in Nagoya, adding to growing flow of capital into rental apartments in the country. Also in the news, two of Singapore's biggest real... Read More>> The post AXA Buys 10-Storey Apartment Tower in Nagoya and More Asia Real Estate Headlines appeared first on Mingtiandi.
The new partnership will provide additional growth opportunities and exposure to a broader geographic footprint in the U.S.: Private real estate firm Brixton Capital has moved from being a customer of property management firm United Apartment Group to being a partner. The firm, which owns and operates a real estate portfolio valued at more than $1 billion, has acquired UAG, a property management company headquartered in San Antonio, Texas, for an undisclosed price. UAG's current management team led by Managing Partners Carrie Girgus and Tim Settles, will remain in place. Girgus and Settles will maintain ownership in UAG.
LOS ANGELES, June 19, 2020 /PRNewswire/ -- Los Angeles based Orion Real Estate Partners ("Orion") announced today that it has acquired Lookout Pointe Apartments, a garden-style apartment community in Provo, Utah. Orion purchased the 115-unit apartment community in June 2020 and plans to invest approximately $1.1mm in interior and exterior improvements. The Property is located in an irreplaceable location as it overlooks Provo from a perch in the foothills of the Wasatch Mountains in a desirable residential neighborhood.