Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of South Hills Apartments to HFH Ltd. for $38.25M, or $450K/unit. The property is an 85-unit apartment
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The outlook for student housing lending should be positive over the next several years. Occupancies for the current school year and pre-leasing for the 2026-2027 school year remain high year-over-year. Also, new supply is constrained, which should show capital providers that student housing is in a safer position than years past. Count on this trend of increased interest in student housing to continue, especially as Fannie Mae becomes more active, and the life companies show renewed interest in the assets that qualify. More
This deal was extremely challenging. In addition to getting comfortable with a new parking technology, PACE Loan Group (PLG) needed to integrate the PACE assessment with the property’s existing Qualified Energy Conservation Bonds (QECBs). The PACE loan will be used to finance the construction and installation of the parking system. More
Seattle-based property management firm Gibraltar sold The Exeter, a 14-story building with 115 apartment homes and 17,648 s.f. of commercial and office space, to a private family office for $25M. Built in 1927 as a luxury hotel and converted to market-rate multifamily housing in 2016, The Exeter is has been preserved by multiple owners for decades. More
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Higher leverage is now attainable and pricing will be more competitive. New capital is flowing into the construction lending space from both debt funds and traditional lending sources and You need a subscription to access this content. Subscribe Now Already subscribed? Click here to login. More
Miami, Florida
November 7-8, 2023
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