Shorecrest Club is one of just two apartment properties building in the Miami neighborhood this cycle. : An investment fund affiliated with one of the biggest real estate brokerages bought a Miami apartment high-rise for $132 million in an exceedingly strong multifamily market. Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at LDinkova@alm.com 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.
EDEN PRAIRIE, Minn., Feb. 7, 2020 /PRNewswire-PRWeb/ -- Vincent Real Estate, a division of Eden Prairie-based Vincent Companies, has announced that pre-construction dirt work has begun on the NOVO Apartments development along the border of Edina and Richfield, MN. The NOVO Apartments will include 192 market-rate multi-family apartment units in a single five-story building sitting atop a two-level, 228 stall underground parking garage. Located at 2400 West 66th Street in Richfield - approximately a half-mile from the Southdale Center shopping mall - the residential development covers nearly 2.3 acres and will include 202,276 sq. ft. of living space.
LOS ANGELES, Feb. 7, 2020 /PRNewswire/ -- L.A. based Orion Real Estate Partners ("Orion") announced today that it has closed on the acquisition of Continental Court Apartments, a garden-style apartment community in Denver, Colorado. Orion purchased the 98-unit apartment community in January 2020 and plans to invest approximately $1.7mm in interior and exterior improvements. The Property is located in the South Denver/Englewood submarket, a Denver infill location with a Walk Score of 80 and close proximity to major employment hubs, entertainment, and transportation. In addition to being less than 15 ...Full story available on Benzinga.com.
LOS ANGELES, Feb. 7, 2020 /PRNewswire/ -- L.A. based Orion Real Estate Partners ("Orion") announced today that it has closed on the acquisition of Continental Court Apartments, a garden-style apartment community in Denver, Colorado. Orion purchased the 98-unit apartment community in...
DENVER -- Apartment Investment and Management Co. (AIV) on Thursday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations. The real estate investment trust, based in Denver, said it had funds from operations of $96.1 million, or 65 cents per share, in the period. The average estimate of [...]
ATLANTA, Jan. 30, 2020 /PRNewswire/ -- Nicol Investment Company ("NIC"), a family owned real estate investment firm headquartered in Nashville, Tenn., has sold Evergreen Lenox Park ("Evergreen"), a 206-unit luxury apartment community, to a New York-based pension fund in a successful...
The scheme is investing Sh1.7 billion to put up an 11-floor residential property in Nairobi's South C.: Mombasa-based Kenya Ports Authority (KPA) Pension Scheme is investing Sh1.7 billion to put up an 11-floor residential property in Nairobi's South C, accommodating 198 families. Regulatory filings for permission to execute the project on a three-acre plot show the high-end three-bedroomed apartments with an adjacent detached servant quarter each will be hosted in three blocks. The scheme said parking spaces will also be provided on site for 396 vehicles with the new property's rooftops reserved for solar appliances.
A company tied to a private equity founder bought an apartment building on the non-oceanfront side of Sunny Isles Beach for $7.56 million. Bella Apartments LLC, managed by Riad Belarbi of Miami, sold the apartments at 225 179th Drive to Arcadia Real Estate FL LLC, which is led by Gonzalo Chueca, purchased the property. The 17-unit building sold for $444,705 per unit, records show. Chueca is the founder of Location3, a Miami-based real estate private ... [more] The post Private equity founder buys Sunny Isles apartments appeared first on The Real Deal Miami.
CBRE Capital Markets provided more than $20 million in acquisition financing through Freddie Mac. : Madison Realty Group has sold Park West 205, a 164-unit Class A community in Pittsburgh, to Morgan Properties for $29 million, according to data from Yardi Matrix. The buyer financed the acquisition with a $20.3 million Freddie Mac loan from CBRE Capital Markets. The seller had developed the community, which opened in 2018. Morgan Properties has been an active investor across the country during the past year. In October, the firm purchased an 18,000-unit portfolio of 80 assets from the unrelated Morgan Communities.
Two years ago, Harbor Group International acquired a 9,600-unit apartment portfolio, paying $1.8 billion for properties across the East Coast and in Chicago. Now, the Virginia-based real estate investment firm has gone even bigger. Harbor has closed on one of the largest apartment portfolio deals ever, paying $1.85 billion for 13,243 units, most of them across the South and Southwest. The portfolio encompasses 36 properties in eight states: Arizona, Colorado, Florida, Georgia, Missouri, New Mexico, The post Harbor Group's 13K-unit apartment purchase is one of largest ever appeared first on The Real Deal New York.