Multifamily commercial real estate news and analysis.
A joint development partnership has secured a nine-figure refinancing package for Union Channel, marking another milestone in Brooklyn's ambitious Gowanus Wharf development. The deal underscores continued lender confidence in the neighborhood's residential fundamentals despite broader market headwinds.
Developer Sam Nazarian is differentiating his latest Miami condo project through high-profile culinary and entertainment partnerships with Sofia Vergara and Marc Anthony. The 35-story HQ Residences aims to stand out in an increasingly crowded South Florida residential market.
Palladium USA has closed on financing for a new 327-unit apartment community in McKinney's Craig Ranch Town Center, marking continued multifamily investment in the thriving Dallas-Fort Worth submarket. The four-story development will feature a mix of unit types wrapped around a concrete parking structure.
S3 Capital has provided $49 million in construction financing for a new multifamily development in Allenhurst, N.J., combining market-rate townhomes with affordable housing units. The project addresses growing demand for diverse housing options in Monmouth County's competitive residential market.
A newly constructed self-storage facility featuring boat and RV parking has traded hands in Crowley, marking another instance of cross-border investment in the thriving DFW metroplex. Marcus & Millichap facilitated the off-market transaction between an anonymous seller and a Canadian buyer.
In a notable Downtown Los Angeles office reshuffle, law firm Gordon Rees Scully Mansukhani is relocating from the iconic U.S. Bank Tower to the financially distressed One California Plaza. The move highlights the aggressive leasing strategies being employed in older Class-A buildings to capture tenants in a competitive market.
A local investment consortium has acquired a 296-unit vintage apartment building in one of Chicago's most sought-after neighborhoods, with plans for a substantial renovation program to reposition the asset.
Andrew Levison, chief investment officer at The Dermot Company, has transformed his career from managing small properties in Connecticut to overseeing institutional-scale multifamily acquisitions and development across the nation.
Los Angeles County supervisors have prolonged emergency tenant protections tied to recent wildfires, keeping rent increase caps and eviction limitations in place through March 29. The decision has drawn pushback from landlord advocacy groups seeking clearer end dates for the measures.
Industry leaders gathered at Commercial Observer's Multifamily Investment Forum delivered a surprisingly candid assessment of the sector's headwinds, with one developer calling the discussion unusually somber compared to typical industry events. The honest exchange signals a shift in how real estate professionals are grappling with current market realities.
RXR and One Investment Management have landed nearly half a billion dollars in financing to reposition a struggling Financial District office tower into nearly 800 rental units, marking one of the most significant adaptive reuse projects in downtown Manhattan.
Meridian Capital Group has successfully brokered a $63.5 million Freddie Mac loan for Wayne Village, a 275-unit garden-style property in Wayne, New Jersey. The deal underscores the continued appetite for agency-backed financing on institutional-quality assets in the Northern New Jersey suburban corridor.