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PASADENA, Calif. , Sept. 1, 2015 /PRNewswire-iReach/ -- CALCAP Advisors is announcing that it has purchased two apartment communities in Las Vegas.  The company has acquired 500 units in Southern Nevada in the past 13 months.  Photo - http://photos.prnewswire.com/prnh/20150829/262093 El Pueblo de Los Arboles Apartments, a 228-unit property in Las Vegas , was purchased for $9,765,000 ( $42,829 per unit/ $56.39 per square foot) on June 30, 2015 through the online real estate website Auction .com.  The seller was an entity of mortgage special servicer LNR Partners , LLC.  LNR acquired the property via a CMBS foreclosure on January 29 , 2015.  The address is 5400 West Cheyenne Avenue , Las Vegas, NV 89108. " El Pueblo de Los Arboles offered us an opportunity to purchase a well located multi- family community significantly below replacement cost", stated Edward Aloe , Managing Principal of CALCAP Advisors .   The property, constructed in 1986, was 86% leased at the clo...

By: Kevin McQuaid | Commercial Real Estate Editor August 25, 2017 A pair of Southwest Florida apartment complexes have sold for a combined $137.6 million, a sign that investors’ fever for rental projects remains high in Lee and Collier counties . In one deal, Los Angeles- based TruAmerica Multifamily and MSD Capital L.P. — an investment vehicle for Dell Computer founder Michael Dell ’s family — purchased the Sienna at Vista Lake in Fort Myers for $66 million. The 640-unit complex, which was constructed as two separate complexes in 1990 but combined 20 years later, contains 32 garden- style apartment buildings . The 3701 Winkler Ave. community features a pair of clubhouses, as well as amenities like swimming pools, fitness centers, basketball and tennis courts and jogging trails. TruAmerica and MSD are expected to invest about $6 million into upgrading the Sienna at Vista Lake, including new unit lighting, appliances, fixtures, countertops, cabinet fronts and washers and dryers, ov...

MIDLAND, TX - Stoneleigh Companies, LLC announced the acquisition of two existing apartment properties in Midland, Texas: the 278 unit apartment project called Waterford Lakes Apartments ; and the 200 unit apartment project called Waterford at North Park. The properties are the eleventh and twelfth multi-family projects acquired/developed by Stoneleigh in the past three years and follow the Waterford Ranch acquisition in 2011 in Midland. Rick Cavenaugh, President of Stoneleigh, stated “Waterford Lakes and Waterford at North Park Apartments (formerly The Lakes and Windscape) affirm our commitment to Midland, Texas. The properties were rebranded at closing and will be managed by Waterford Residential , our affiliated property management division . Acquisition financing was provided by KeyBank N.A. through two bridge loans. We intend to close on a KeyBank - Freddie Mac CME loan in January 2013 and will bring our FMAC financed portfolio to nine projects.” James O...

US Concrete Inc (NASDAQ:USCR) Q2 2017 Earnings Conference Call August 08, 2017 10:00 AM ET Executives Kevin Kohutek - Vice President and Chief Accounting Officer Bill Sandbrook - President and Chief Executive Officer Analysts Trey Grooms - Stephens Inc Adam Thalhimer - Thompson, Davis Scott Schrier - Citi Craig Bibb - CJS Securities Stanley Elliott - Stifel Nicolaus Roresa Mojo - D.A. Davidson Operator Good day, ladies and gentlemen, and welcome to the U.S. Concrete, Inc. Second Quarter 2017 Earnings Conference Call . [ Operator Instructions ] I would now like to introduce your host for today's conference, Kevin Kohutek, Vice President and Chief Accounting Officer . You may begin. Kevin Kohutek Thank you, Israh. Good morning, and welcome to U.S. Concrete's Second Quarter 2017 Earnings Conference Call . Joining me on the call today is Bill Sandbrook, our President and Chief Executive Officer . Bill and I will make some prepared remarks, after which we will open the call to your ...

Mack- Cali Realty Corp . (NYSE:CLI) Q2 2017 Earnings Conference Call August 03, 2017 08:30 AM ET Executives Michael DeMarco - President and Chief Executive Officer Anthony Krug - Chief Financial Officer Marshall Tycher - Chairman of Roseland Residential Trust Analysts John Guinee - Stiefel Manny Korchman - Citi Jamie Feldman - Bank of America Rob Simone - Evercore ISI Vincent Chao - Deutsche Bank Operator Good day, everyone, and welcome to the Mack- Cali Realty Corporation Second Quarter 2017 Earnings Conference Call . Today's call is being recorded. At this time, I would like to turn the call over to Michael J. DeMarco, President and Chief Executive Officer . Please go ahead, sir. Michael DeMarco Thank you, operator. Good morning, everyone, and thank you for joining the Mack-Cali's second quarter 2017 earnings call . This is Mike DeMarco, the CEO of Mack-Cali. The lovely day in a waterfront, sun shining. I'm joined today by my partners Marshall Tycher , Chairman of Rosel...