Construction Maison

HOUSTON, TX - Mindy Price, Vice President Sales , J Turner Research has been recognized in the inaugural class of the Houston Apartment Association ’s (HAA) 40 Under 40 Honorees.  Mindy has been selected among more than 125 nominations for the multifamily industry ’s rising stars.  This maiden HAA initiative celebrates young leaders for their outstanding contribution to the Houston apartment industry , exceptional commitment to their careers, and passion for community service.  Mindy and other honorees will be recognized in a ceremony on September 11, 2014. Delighted to be awarded this distinction, Mindy Price expressed , “I am overwhelmed with joy! I was honored and humbled to be nominated, and then to actually have been selected to be part of such a great group is truly breathtaking. There are no words to express my gratitude and excitement. I will continue to do my best and help those around me. I am very thankful to be a part of such a wonderful industry and I look for...

PHOENIX, AZ - TSB Capital Advisors , the national leader in student housing real estate advisory services , successfully negotiated acquisition financing of Hill Country Place , a 228-unit, 696- bed student housing community serving the students of the University of Texas at San Antonio. The financing was arranged on behalf of a joint venture of University Student Living and Harrison Street Real Estate Capital .The seven-year, floating-rate loan was provided by Freddie Mac, through Walker & Dunlop. “The acquisition of Hill Country Place continues the existing partnership’s relationship while expanding the value- add acquisition platform of University Student Living and Harrison Street Real Estate Advisors ,” said Timothy S. Bradley of TSB Capital Advisors . Hill Country Place is a garden- style property located within a half-mile of the University of Texas at San Antonio campus . Built in 2008, the property features a mix of one-, two- and four- bedroom floor plans , as wel...

ABI Multifamily , a multifamily brokerage and advisory services firm , announced the sale of the Montebello Apartments located in north central Phoenix for $1,150,000, which reflects a price of just over $67,600 per unit. Constructed in 1964, the property is located just north of Phoenix’s Historic Districts along Central Avenue.  The low density, single story property consists of 17 block constructed, individually metered apartments with a mix of one, two and three bedroom units.  Common area amenities include a swimming pool, laundry facility and lush open areas with patio space for residences on just over an acre of land.  The Montebello was partially renovated with interior upgrades such as granite countertops, tiled floors, new cabinetry and washer/dryer hookups. The buyer was attracted to the property’s location, which is surrounded by custom homes and within walking distance of a popular dining destination , The Yard, by renowned restauranteur Sam Fox , and a new mixed us...

Marcus & Millichap (NYSE: MMI) today announced that its financing subsidiary, Marcus & Millichap Capital Corp . (MMCC), has arranged $35.8 million in refinancing for Aurora Apartments in Charlotte, North Carolina. The loan was structured with an adjustable interest rate over a seven- year term amortized over 30 years. “MMCC has an existing relationship with the borrower who sought our services based on our reputation as a low-cost provider and our ability to execute complex financing transactions flawlessly ,” said Richard Katzenstein, senior vice president and national director, MMCC. “Leveraging our partnership with PGIM Real Estate Finance , we were able to provide a low- cost capital solution with attractive terms well beyond what the borrower was able to find elsewhere in the marketplace. In addition, MMCC’s execution of the loan was one the best the client had experienced.” “This transaction highlights how our proprietary preferred correspondent agreement with PGIM ...

Ross Stores, Inc. (NASDAQ:ROST) has risen 12.03% since August 18, 2016 and is uptrending. It has underperformed by 16.07% the S&P500. Fjarde Ap- Fonden Fourth Swedish National Pension Fund increased Mid Amer Apt Cmntys Inc (MAA) stake by 13.97% reported in 2016Q4 SEC filing . American International Group Inc. now owns 14,006 shares of the real estate investment trust 's stock worth $185,000 after buying an additional 966 shares during the period. During the same period a year ago, the firm posted $1.54 earnings per share. Mid Amer Apt Cmntys Inc Com now has $12.10 billion valuation. It closed at $106.52 lastly. It is down 0.92% since August 18, 2016 and is uptrending. It has underperformed by 1.04% the S&P500.The move comes after 5 months negative chart setup for the $585.42 million company. Its up 0.24, from 0.84 in 2016Q3. (MAA) opened at 106.69 on Thursday. 341.62 million shares or 0.09% more from 341.30 million shares in 2016Q3 were reported. Mid- America Apartment ...

Cedar Rapids residents continue fight against affordable housing project as City Council prepares to make decision May 18, 2017 at 5:40 pm | Print View CEDAR RAPIDS — Neighbors to a proposed affordable housing complex in the northwest quadrant say they are frustrated with unresponsive elected officials as the project that months ago appeared dead now appears primed to pass. CommonBond Communities, a St. Paul, Minnesota- based nonprofit affordable housing developer , wants to build the $9 million, 45- unit Crestwood Ridge Apartments at 1200 Edgewood Road NW . Neighbors have fought back but been painted as biased, city leaders won ’t give them a fair chance and an east-west divide is fueling opinions, said Boyd Severson, 65, who has been part of a core group of opposition. “People are aligning as east side versus west side , at least that is the appearance,” said Severson, who is among 769 people who have signed a petition against rezoning to allow the development. “People say our...

NEW YORK, Aug. 15, 2017 (GLOBE NEWSWIRE) -- Greystone, a real estate lending , investment and advisory company, today announced it has provided a $26.65 million Fannie Mae DUS ® loan in combination with $5.35 million in preferred equity from New York Mortgage Trust , Inc., for the acquisition of Autumn Park, a 358- unit multifamily property in Newark, Delaware. The transaction was originated by Keith Hires of Greystone’s Atlanta office with Ryan Ade and Neil Campbell of HFF as correspondents on the deal. The Fannie Mae DUS loan includes a 7 / 6 adjustable rate at 3 years of interest-only and a 30-year amortization. Autumn Park is a garden- style community comprising 1 -, 2-, and 3-bedroom apartments with a pool, located within easy access to I-95 and downtown amenities. During the underwriting process of the loan for Autumn Park, Greystone overcame a number of unique environmental challenges , including issues with an unprecedented number of underground storage tanks . Greystone wo...

ATLANTA, GA - StoneBridge Investments of Washington, DC has acquired Veridian at Sandy Springs, a 272- unit apartment community in the greater Atlanta submarket of Sandy Springs, for $32 million. The seller, a fund managed by Covenant Capital Group , LLC, was represented by Mike Kemether and Travis Presnell of Cushman & Wakefield. Elliott Throne, Gregg Shapiro, and Ware Shipman of HFF secured acquisition financing through a Freddie Mac loan .Built in 1980 and extensively renovated, Veridian is located at 1800 Windridge Drive within the Perimeter Center , a fast-growing “edge city” that encompasses three small cities: Brookhaven, Dunwoody, and Sandy Springs. It is Atlanta’s largest employment center , with more than 123,000 employees, 31 million square feet of office space, three major hospitals , and six million SF of retail space including the 1. 5 million SF Perimeter Center Mall .“Having acquired a neighboring apartment community , 550 Abernathy, earlier this year, we remai...

CLOSE Collier County will consider four public sites in East Naples and North Naples to encourage the development of affordable housing. Greg Stanley/Naples Daily News Credit: Andy Dean Photography via iStock (Photo: Andy Dean Photography via iStock) A developer wants to put up an apartment complex on Bayshore Drive and rent out nearly half of its units as affordable housing. The property, a vacant lot at the northeast corner of Bayshore and Thomasson drives, has been slated for affordable housing since 2005. But it has always been the county's plan for the East Naples site that the housing on it — either condominiums or single family homes — would be owned and not rented. In a 2005 agreement with the owners of the property, called the Cirrus Pointe Planned Unit Development , the county gave developers permission to build more units than is typically allowed in exchange for keeping 44 of those condos or homes affordable. More:  Four sites owned by Collier County could be us...

I just finished my all-new DAVOS portfolio that includes the following best-in-class REITs: Digital Realty (DLR), American Tower (AMT), Ventas, Inc. (VTR), Realty Income (O), and Simon Property Group (SPG). As a reminder, the DAVOS REITs were picked because of their high-quality attributes and most importantly for their dividend repeatability. While these REITs do not represent all of my favorite picks, they embody a diversified basket that serve as a proxy for robust dividend growth in the REIT sector. I’ll be honest, the last pick was the hardest. It was easy for me to select DLR, VTR, O, and SPG – because these four REITs have scale, experience, and muscle – all essential elements of durability. However, I was torn between the last pick, debating most of my Saturday as to whether I would go with American Tower or AvalonBay (AVB). I was really leaning to go with AvalonBay, but I decided at the last minute to include American Tower . It was a tough call, but after reading this ar...