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Bluerock Value Exchange Announces Successful Sell-Out of Class A, Multifamily Big Creek DST 1031 Exchange Offering

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PR Newswire NEW YORK, Aug. 15, 2017 /PRNewswire/ -- Bluerock Value Exchange ("BVEX") announced today the sellout of its latest 1031 exchange program , BR Big Creek, DST, a Class A, 372-unit, apartment community ("the property") located in Alpharetta, Georgia. The securities offering was fully subscribed for more than $35 million in capital. Completed in 2016, Big Creek is a class A apartment community in the affluent, high growth, mixed-use neighborhood of Alpharetta in Atlanta, GA. In keeping with the value creation strategy of BVEX, the property offers steady cash flow with upside potential in rents. "Bluerock Value Exchange concentrates solely on acquiring high-quality, Class A 1031 replacement properties with potential to deliver attractive current cash flow and grow investor capital . There's significant need, particularly among independent broker dealers , for high- caliber replacement properties from established sponsors with proven performance...

Marcus & Millichap : $35.8 Million Apartment Property Refinancing Structured by Marcus & Millichap Capital Corp.

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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 ...

Zillow : Home Values Higher than Ever in Almost Half of Nation's Largest Markets

SEATTLE, Aug. 24, 2017 /PRNewswire/ -- Home values are setting new records in about half of the country's largest metros, and the national median home value is now $4,100 more than it was in April 2007, just before the market crashed , according to the July Zillow® Real Estate Market Report(i). Home values in Denver, Dallas and San Jose have appreciated most beyond the previous record-highs set at the peak of the housing bubble in the mid-2000s. Homes in Denver are almost 60 percent more valuable now than during the bubble, increasing from a median home value of $235,900 in April 2006 to a current median home value of $371,100. When the housing market crashed , home values plummeted and it has taken about 10 years for home values to reach new record highs. Strong labor markets and steady income growth have pushed up home values in the nation's hottest markets more quickly than in others. Among the 35 largest housing markets , 15(ii) have higher median home values than ...

StoneBridge Investments Acquires 272-Unit Veridian at Sandy Springs Apartment Community

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...

Centerline Capital Refinances Woodchase Apartments

NEW YORK, NY -  Centerline Capital Group (“Centerline”), a provider of real estate financial and asset management services for affordable and conventional multifamily housing , and a subsidiary of Centerline Holding Company (OTC: CLNH), announced today it has provided an $11. 4 MM Fannie Mae DUS Choice refinancing for the Woodchase Apartments in St. Louis, Missouri. Woodchase Apartments is a garden style multifamily facility that was built in 1984 and comprises 17 two- and three- story residential buildings , and one single-story office/clubhouse.  The property consists of a total of 186 units, and the unit mix is made up of 92 one-bedroom and 48 two- bedroom apartments , and 18 one-bedroom and 28 two- bedroom townhome units .  The loan is a 10- year fixed rate facility with a 30- year amortization period . The portfolio was refinanced to secure a new low interest rate . Centerline is one of the nation’s leading Mortgage Banking institutions in the multif...

Mindy Price with J Turner Research Bags Recognition from the Houston Apartment Association

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...

Streetscapes/Sutton Place, Sutton Place South and One Sutton Place North; A Prestigious Enclave With a Name in Question

It is known that Sutton ran a clipper ship line to the California coast in the 1850's that served Gold Rush hopefuls , and that he lived on West 29th Street between Eighth and Ninth Avenues (a block that was also called Lamartine Place and was set apart from the rest of the city's street grid because of separate numbering). In 1875 a consortium of developers that included James Stokes , William Dodge and D. Willis James began to acquire property on Avenue A in the East 50's, on what is now called Sutton Place . Deed patterns suggest that they were working with a builder, Andrew Kerwin, who in 1879 put up the original Sutton Place enclave , 24 single-family brownstones on the block bounded by 58th and 59th Streets and Avenue A and the East River. Half of them faced the avenue and half faced a new street along the river briefly named Riverview Terrace . A few of those houses survive in recognizable form, three stories high with a stoop. Someone renamed the Avenue A side ...

KTGY Architecture + Planning Selected to Design Mixed-Use Development in Downtown Salt Lake City -- KTGY Architecture + Planning

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The innovative project looks to transform this downtown district through the infusion of a diverse set of programs that will provide activated street frontages and a variety of housing typologies at all levels of affordability. The Exchange LOS ANGELES - Aug. 25, 2017 - PRLog -- KTGY Architecture + Planning unveiled today the preliminary design for a new mixed-use development that was selected as part of Salt Lake City 's plan to revitalize its downtown core developed by The Domain Companies , one of the nation's leading real estate investment and development firms specializing in sustainable mixed-use development, and the GIV Group, which combines a non-profit and entrepreneurial approach to community development. Called The Exchange, the design envisions a pedestrian- and transit-oriented mixed-use district focused on innovation and includes "startup" micro-unit apartments, business incubator space , creative office space , affordable and market-rate apartm...

• Forest Glen Apartments • Highland Park • Illinois •

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• Appian Way Apartments • Fort Worth • Texas •

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