The multifamily sector could not be having an easier and more fruitful 2021. Rents are climbing, investment sales are proliferating and occupancies are strong. Navigating such an environment, one might think, is an easy prospect and to be sure it is always better to be doing business in flush times. However, it still takes skill […]
(EDITOR’S NOTE: According to public records, the asset was sold in August of 2021 for $16 million, or about $121,212 per room. The seller was Manas Hospitality, LLC, which is affiliated with San Diego-based Kalthia Group Hotels. The buyer, MVC MF LLC, is an entity affiliated with Josh Wertlieb of Arizona-based Harc Holdings. As part […]
Combined financing of $24.2 million was recently obtained for five multifamily properties, a hotel and a retail property in Arizona. The transactions involve the 44 May multifamily property in Mesa, the Royal Meridian multifamily in Apache Junction, along with Sunset Ridge apartments, Gran Jardin multifamily property, the Mojave Apartments, a Motel 6 and the Alta […]
Tower Capital recently arranged a $23.2 million acquisition and renovation loan for a 132-key Holiday Inn Express hotel in Sacramento that will be repurposed into a 129-unit class-B multifamily community. The four-story project was originally built in 1979 and is located at Sacramento’s downtown convention center. “The sponsor’s conversion strategy aligns with Tower Capital’s objective […]
Tower Capital arranged $24.2 million in combined financing for five multifamily properties, a hotel, and a retail property in Arizona. The transactions involve the Sunset Ridge apartments in Phoenix, Gran Jardin multifamily property in Phoenix, the Mojave Apartments in Phoenix, the 44 May multifamily property in Mesa, the Royal Meridian multifamily in Apache Junction, a […]
The wildly popular build-to-rent sector continues to surge in metro Phoenix, as one of the first companies to get into this space has sold another property — and bringing in more than double the value of its first property sale in 2018. Read source article
