Loan of $159M Finances Multifamily Buy The Bethany Group has acquired a portfolio of 2,873 apartment units in Florida, Texas and South Carolina from Aimco and has financed the purchase with a $159-million loan from GE Real Estate. Greg Garmon, CEO of Bethany, tells GlobeSt.com that the financing will go toward both the approximately $151-million …
Category Archives: Property Sales
New York firm pays $20 million for Vero apartment complex [South Florida]
New York firm pays $20 million for Vero apartment complex [South Florida] A New York real estate firm has purchased the Walker Woods apartment complex in Vero Beach for $19.72 million. Benchmark Properties Management Corp., managed by Clarke Narins, acquired the 29.18-acre property at 2898 71st Circle from Altamonte Springs-based Walker Woods Inc., public records …
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Absentee owners investing in O.C. [Southern California]
Absentee owners investing in O.C. [Southern California] The true role of real-estate investors in the Orange County housing market is tricky to gauge. One accounting of their activity – tracking folks who buy property but send the tax bills to another address – shows that these sales continue to be strong. In 2005, market watcher …
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$9M sale sets Casey Key mark
$9M sale sets Casey Key mark Buyer gets a deal: The home was originally priced at $12M Stephen King no longer lives in the most expensive home ever sold on Casey Key. On Friday, an unidentified “out-of-town buyer” went to the hip for $9 million, buying a home at 1804 Casey Key Road, squeaking past …
When is a condo not a condo? [South Florida]
When is a condo not a condo? [South Florida] Condo-hotel sales have been slow at the Penguin in South Beach. Is it real estate, or is it an investment? Owner Markus Friedli is thinking the latter. Owner Markus Friedli says he is quite pleased with the Penguin Hotel after three years of rising room rates …
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$39M Financing Deal Closes for Multifamily Complex [Maryland]
$39M Financing Deal Closes for Multifamily Complex [Maryland] The 495-unit Loch Raven Village apartment community will get a new owner and a facelift with the assistance of a $38.5-million joint venture equity and debt financing deal that has just closed. Located at 1711 Edgewood Rd. just off the Baltimore Beltway, The residences are contained within …
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