ATLANTA-Locally based-Southeast Capital Partners and a northeastern partner are looking to pay between $70,000 and $90,000 a unit for multifamily rental properties under 10 years old that serve the upper-middle and high-end markets. Atlanta, Nashville and Tampa are prime targets.
PHILADELPHIA-The 160-unit multifamily rental complex at 100 First Montgomery Blvd. in Thorndale, PA in Chester County was built between 1999 and 2002. Funded through Freddie Mac, the loan has a 7.32% interest rate and a loan-to-value ratio of 67%.
PHILADELPHIA-Formerly with Philadelphia-area Hayden Real Estate, R. Bradford Mills is named corporate managing director of New York-based Julien J. Studley and will locate in Studley's Philadelphia office. He has more than 13 years of experience in the Mid-Atlantic region.
ATLANTA-The three-stage residential and retail development will occupy 54 acres on Highway 16, giving area residents a retail alternative to neighboring Charlotte.
ATLANTA-Following a 90-day audit by Ernst & Young, the Charlotte-based software provider passes an examination for security, integrity and availability under the American Institute of Certified Public Accountants' SysTrust examination process.
ATLANTA-New York-based Sentinel Real Estate Corp. sells the 91%-leased apartment complex at 500 Northside Circle NW near the city's new Atlantic Station development to Houston-based CNC Investments for $53,561 a unit. Cushman and Wakefield's locally based-office of the Apartment Group represented Sentinel.
ATLANTA-The locally based REIT closes on two debt transactions--a $25-million unsecured note at 6.11% and a $13.5-million loan at 6.29%, secured by a Post project near Dallas that is in its third stage of development.
PHILADELPHIA-Letters from Philadelphia Mayor John Street are going to companies as substantial amounts of center city office space comes up for lease renewal. Designed to stem negative job growth, the Office Retention Program is applauded by office building owners.
ATLANTA-The 282-bed Medical Center East, which draws from Birmingham, AL's fastest-growing communities, awaits state approval of a three-phase expansion that adds four floors to its existing patient tower, a 230,000-sf medical office building and expands the emergency department.