DEAL TRACKER
WASHINGTON, DC–Greysteel has completed the the sale of Jair Lynch's Regenesis Portfolio, a 482-unit, five property affordable housing portfolio located in Washington, DC. The portfolio consists of Brookland Pl.; 617 Hamlin St. NE; Fort Stevens Place at 1339 Ft. Stevens Dr. NW; Mass Place at 1111 Massachusetts Ave., NW; Petworth Place at 930 Randolph St., NW; and Takoma Place at 6676 Georgia Ave., NW. The properties have been selling piecemeal; Takoma Place, for instance, traded for $14 million in March of this year. Petworth Place traded prior to that for $4.8 million. Jair Lynch Real Estate Partners acquired the properties in 2011 after initially putting the portfolio under contract and then being selected by all five resident associations under the Tenant Opportunity to Purchase Act process.
WASHINGTON, DC–Tivoli Apartments, located at 4811-4819 North Capitol St. NE, in Washington DC has traded for $5.145 million, or $105,000 per unit. The property is a 49-unit apartment community located in the Brookland submarket. Marcus & Millichap's Cameron M. Webb represented the seller and procured the buyer on the transaction.
BETHESDA, MD–Capital One has provided a $41.1 million first mortgage and a $5 million senior credit facility for Prestige Care, an Oregon-based owner and operator of independent living, assisted living, memory care and skilled nursing facilities. The company used the mortgage loan to acquire four senior housing and skilled nursing facilities in Washington and Idaho and to refinance three facilities it owns in Oregon and Washington.
WASHINGTON, DC–Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, has arranged three mortgage debt loans totaling $185.1 million for the refinancing of three multifamily apartment properties owned by AvalonBay Communities. The three properties have 1,384 units combined and include: Avalon Russet in Laurel, Md.; eaves Woodland Hills in Woodland Hills, Calif.; and eaves Los Feliz in Los Angeles. The loan's originator, Kip Kimble, senior vice president of Bellwether Enterprise in the Boston office, arranged the financing for the three properties using New York Life as the lender. The three separate loans, which were all used to refinance existing loans, included a 10-year fixed rate with full-term interest only. “After a competitive bidding process, New York Life stepped up with the most favorable loan terms,” Kimble said.
WASHINGTON, DC–JLL has announced it has leased the retail space at Square 85 at 1020 19th St. and 1001 Connecticut Ave., within Zuckerman Gravely portfolio in Downtown Washington, DC. Andy Corno and Thomas Jackman took on the assignment in April 2016.
DEAL TRACKER
WASHINGTON, DC–Greysteel has completed the the sale of Jair Lynch's Regenesis Portfolio, a 482-unit, five property affordable housing portfolio located in Washington, DC. The portfolio consists of Brookland Pl.; 617 Hamlin St. NE; Fort Stevens Place at 1339 Ft. Stevens Dr. NW; Mass Place at 1111
WASHINGTON, DC–Tivoli Apartments, located at 4811-4819 North Capitol St. NE, in Washington DC has traded for $5.145 million, or $105,000 per unit. The property is a 49-unit apartment community located in the Brookland submarket. Marcus & Millichap's Cameron M. Webb represented the seller and procured the buyer on the transaction.
BETHESDA, MD–Capital One has provided a $41.1 million first mortgage and a $5 million senior credit facility for Prestige Care, an Oregon-based owner and operator of independent living, assisted living, memory care and skilled nursing facilities. The company used the mortgage loan to acquire four senior housing and skilled nursing facilities in Washington and Idaho and to refinance three facilities it owns in Oregon and Washington.
WASHINGTON, DC–Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, has arranged three mortgage debt loans totaling $185.1 million for the refinancing of three multifamily apartment properties owned by AvalonBay Communities. The three properties have 1,384 units combined and include: Avalon Russet in Laurel, Md.; eaves Woodland Hills in Woodland Hills, Calif.; and eaves Los Feliz in Los Angeles. The loan's originator, Kip Kimble, senior vice president of Bellwether Enterprise in the Boston office, arranged the financing for the three properties using
WASHINGTON, DC–JLL has announced it has leased the retail space at Square 85 at 1020 19th St. and 1001 Connecticut Ave., within Zuckerman Gravely portfolio in Downtown Washington, DC. Andy Corno and Thomas Jackman took on the assignment in April 2016.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
