http://www.multifamilybiz.com Latest Press Releases from MultifamilyBiz.com en-us © 2024 MultifamilyBiz.com 1 /pressreleases http://www.multifamilybiz.com/images/multifamilylogosmall.png 144 33 Multifamily Industry Press Releases - MultifamilyBiz.com RSS Feed NEW YORK, NY - Delancey Street Associates, a joint venture of Taconic Partners, L+M Development Partners, BFC Partners, the Prusik Group, and the Urban Investment Group within Goldman Sachs Asset Management, has partnered with Blueground, the world s largest operator of furnished, flexible apartments for stays of 30 days or longer. Blueground s flexible units will be available at Essex Crossing, beginning with The Artisan at 180 Broome Street. Blueground s flexible living solution is highly sought-after worldwide and a great value-add for Essex Crossing s portfolio of rental buildings and the mixed-use development as a whole, said Andrew Schwartz, senior vice president, residential asset management, at Taconic Partners. The development draws its vibrancy from the Lower East Side, as well as its diversity of uses and its varied tenant mix. By adding yet another way for residents and guests to use space within the development, we are reinventing and enhancing Essex Crossing s live-work-play environment. Blueground flexible rentals join a robust mix of commercial, retail, cultural and entertainment components that make up Essex Crossing, the 1.9 million square feet master-planned transformational development on the Lower East Side. These include an NYU Langone Health multispecialty outpatient facility, an urban rooftop farm, Essex Market, Trader Joe s, Target, The International Center of Photography, Regal Cinemas, and The Gutter bowling alley. ESSEX CROSSING RESIDENTIAL COMPONENT Designed by Handel Architects with interiors by Fabienne Benmoha, The Artisan at Essex Crossing, where the first Blueground units will be located, is a 26-story residential property. Unit amenities include stainless steel appliances, featuring Bertazzoni cooktops and ovens, Blomberg dishwashers, and in-unit Bosch washers and dryers. Both Blueground and long-term renter residents have direct access to Broome Street Gardens, a 9,000-square-foot landscaped atrium, as well as the building s world class amenities, such as landscaped terraces, a sky deck, a fitness center, a lounge and game room, conference room, and children s playroom. Custom artwork by Logan Hicks and Aaron De La Cruz is displayed throughout the building. The Essex at 125 Delancey Street is a 26-story residential rental, and the tallest component of the Essex Crossing development. Designed by Handel Architects, the building includes 98 rental units as well as the 14-screen Regal Cinemas. Residential amenities include a rooftop terrace, a residents lounge and game room, meeting rooms, a library, a children s playroom, and a fitness center. A sixth-floor garden terrace with hammocks, grills, and dining areas, as well as an urban farm by Project EATS, a not-for-profit, founded in 2009 by artist and activist Linda Goode Bryant to address food scarcity through art as a catalyst for social change. The Rollins at 145 Clinton Street, is a 16-story, 211-unit tower, where half of units are set aside as affordable to low, moderate, and middle-income individuals and households. The building s site includes a 15,000-square-foot park, a mural spanning its western façade, as well as the aforementioned Trader Joe s and Target. One Essex Crossing, Essex Crossing s the 14-story condominium tower at 202 Broome Street designed by CetraRuddy, is 95% sold. GLOBAL NETWORK OF MOVE-IN-READY HOMES Earlier in 2024, New York City-based Blueground secured $45 million through Series D funding, which the company will put towards technological acceleration and new strategic initiatives. The company leases apartments in popular neighborhoods and then equips and furnishes them for renters, for stays of a month or longer. Blueground is the ideal solution for individuals, corporate travelers, students, and those looking for long-term flexible leases. As of May 2024, the company s global network of move-in-ready homes spans 15,000 fully-equipped apartments in 17 countries and 32 cities. In addition to taking out its own leases, Blueground recently began to franchise with local operators in Japan, Thailand, and Egypt, and has its own Partner Network, making other vetted, 30+ day suppliers available to renters through its website. Essex Crossing is one of New York City s most exciting places to live and Blueground guests at The Artisan will be in the center of it, said Dimitris Chatzieleftheriou, General Manager, Blueground New York. The property s elevated finishes, amenity offering, unimpeded skyline views, and first-rate location make it a fantastic addition to our portfolio. This collaboration underscores our dedication to delivering unmatched comfort, convenience, and quality across our properties, as we continue to expand our offerings and cater to the evolving needs of our guests. ABOUT TACONIC PARTNERS: Since 1997, Taconic Partners has acquired, redeveloped and repositioned over 12 million square feet of commercial office and mixed-use space, as well as over 6,500 units of luxury and workforce housing. As a fully integrated real estate company with a keen eye for uncovering value, its diverse capabilities are evidenced by its multifaceted success with luxury properties, as well as adaptive reuse and urban revitalization projects. In New York City, Taconic is currently developing r, 125 West End Avenue (West End Labs), 309 East 94th Street (Iron Horse Labs), 312 West 43rd Street and Essex Crossing on the Lower East Side. The firm also manages various real estate funds on behalf of institutional and pension fund investors. ABOUT L+M DEVELOPMENT PARTNERS: Since its inception in 1984, L+M Development Partners Inc. has been an innovator in developing quality affordable, mixed-income and market-rate housing, while improving the neighborhoods in which it works. A full-service firm, L+M works from conception to completion, handling development, investment, construction and management with creativity that leads the industry. L+M is responsible for approximately $10 billion in development and investment, and has acquired, built or preserved nearly 35,000 high-quality residential units in New York s tristate area, Washington, D.C., the West Coast and Gulf Coast regions. Community leaders, government officials and institutional investors turn to L+M because of its consistent track record of excellence. L+M is a double bottom line company, where its success is measured not only in financial returns but also by positive impacts. L+M takes pride in its long-standing partnership with the communities it serves, demonstrated through an annual scholarship fund, workforce development programs, after-school programs, and substantial support for local nonprofits. L+M brings a superior level of commitment to its investments in developments, and equally important, to its investment in people. ABOUT BFC PARTNERS: BFC Partners is a full-service, real estate development firm that creates community-first, urban development solutions. Since 1984, BFC has been at the forefront of developing high quality affordable, mixed-income, and market rate housing. We are dedicated to revitalizing communities and improving the lives of our residents and neighbors. As leaders in the field, our government, financial, and community partners seek us out to help start new programs and undertake complicated projects. ABOUT THE PRUSIK GROUP: The Prusik Group LLC was formed in 2007 by S. Andrew Katz and Rohan Mehra. The Prusik Group focuses on the development and repositioning of retail real estate assets throughout the Tri-State area. The Prusik Group s founders have a combined 40 years of design, construction, and development experience ranging from single tenant installations to major urban development sites. The Prusik Group prides itself on maintaining unparalleled relationships with its retail tenants. Through the development and repositioning of more than 3.0 million SF of retail, office, and residential projects, the founders have established and continue to foster excellent relationships across the industry and throughout the communities with which they have worked. The Prusik Group is currently developing and/or managing more than 3 million SF of real estate in the greater NYC metropolitan area. ABOUT THE GOLDMAN SACHS ASSET MANAGEMENT URBAN INVESTMENT GROUP (UIG): Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2.5 trillion in assets under supervision worldwide as of December 31, 2022. Driven by a passion for our clients performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 2001, the Urban Investment Group within Goldman Sachs Asset Management has committed over $10 billion through real estate projects, social enterprises and lending facilities for small businesses and students, creating economic value and opportunities for underserved communities and families. ABOUT BLUEGROUND: Blueground is a global PropTech company that is reinventing the way people live with its curated network of thousands of quality, turnkey homes in sought-after neighborhoods around the globe, available for stays of a month or longer. Blueground s tech-enabled platform provides a fully digitized experience from viewing and booking available apartments within minutes to managing the entire stay through the Blueground Guest App. Now renters can book where they want, when they want, and on the terms they want. Blueground is headquartered in New York City, with a portfolio of over 15,000 move-in ready apartments in 32 cities worldwide. https://www.multifamilybiz.com/pressreleases/17233/blueground_launches_furnished_rentals_at_essex_cro... Fri, 19 Jul 2024 08:41:00 GMT ea44ba9f-c963-4f6d-b597-429119bc5d74 AVONDALE, AZ - Trilogy Investment Company, a leader in Build-To-Rent (BTR) community development, announces that site development has commenced at Rêve at Encanto West in Avondale, Arizona, with utility construction underway. This 84-townhome BTR community, developed in collaboration with Cimbra Partners, LLC., represents the first strategic joint venture partnership with Cimbra Partners. "With grading and sewer line going in at Rêve at Encanto West, the community is starting to take shape," states Jason Joseph, CEO and Partner at Trilogy Investment Company. "This project reinforces our commitment to addressing the region's strong demand for rental housing. Situated on a prime seven-acre plot at the intersection of Encanto Blvd. and N. Avondale Blvd. across from state-of-the-art West Point High, Rêve at Encanto West is a testament to Trilogy's commitment to strategic location selection. This project is one of three Trilogy ventures in the Avondale area and its fifth in Arizona, further solidifying our presence in the state. We are excited about our partnership with Trilogy Investment and our shared vision to create rental homes that redefine the narrative around renting, said César J. Rodríguez, Co-founder and Managing Partner of Cimbra Partners, LLC. The gated townhome community offers residents the feeling of home and community with the flexibility of renting. Homes at Rêve at Encanto West include three bedrooms and two and a half bathrooms, flexible space for a bedroom or office, 9-foot ceilings, a stainless steel appliance package, granite countertops and a garage. Neighborhood amenities will include a clubhouse with grilling stations and a pool, Market fundamentals in Avondale, Arizona, are strong. A growing submarket is supported by strong job and population growth in Phoenix. About Trilogy Investment Company: Led by a team of investment, development, and construction professionals, Trilogy Investment Company provides Build-To-Rent communities for residents seeking the stability and social benefits of home ownership but rent by choice or have been priced out of the competitive housing market. Located in desirable neighborhoods near good schools and major economic drivers, these communities offer luxurious finishes and coveted amenities for like-minded families and young professionals desiring rental opportunities beyond traditional apartments. Created with targeted demographics in mind, these communities provide the flexibility of rentals with the stability, privacy, and social benefits of homeownership. To learn more about Trilogy Investment Company, visit www.trilogyic.com and follow the company on LinkedIn. About Cimbra Partners: Cimbra Partners, LLC pursues co-general partner status in residential ground-up development and value-added projects. With a history of developing luxury real estate projects in the best locations in Mexico City and Tijuana, Cimbra communities feature exclusive and innovative spaces and avant-garde designs that provide client satisfaction. While Cimbra Partners is a recently formed partnership, it is the offshoot of Cimbra Capital – a residential development firm in Mexico with over 300 condominium units under construction. For more information, visit www.CimbraPartners.com. https://www.multifamilybiz.com/pressreleases/17232/trilogy_investment_announces_construction_start_at... Fri, 19 Jul 2024 08:33:00 GMT 64036338-4e20-4219-a6f5-0912f12935fe PHOENIX, AZ - TSB Capital Advisors, the national leader in student housing and multifamily real estate advisory services, successfully arranged acquisition financing and advised on the joint venture partnership of ARTISAN Capital Group (ACG) and EOS Investors for Union on Lincoln Way, a 177-unit, 537-bed student housing property located near Iowa State University in Ames. Freddie Mac provided the financing via Capital One. Union s combination of location and amenities is already second-to-none, and yet it represents outstanding future potential in a Power Five market, said Timothy S. Bradley of TSB Capital Advisors. I m grateful for the efforts of Stephen Hovanec and our team at TSB, as well as our friends at ARTISAN, EOS, Freddie Mac and Capital One for steering this deal across the finish line. Delivered in 2018, Union on Lincoln Way is the newest asset in the Ames market and located adjacent to the Iowa State University campus. The property offers studio, one-, two-, three-, four- and five-bedroom units, each fully furnished and featuring stainless steel appliances, granite countertops, hardwood-style floors, fully equipped kitchen, and in-unit washer and dryer. Community amenities include a swimming pool, fitness center, resident clubhouse, fire pits and grilling area, business center, and study rooms. ARTISAN Capital Group, headquartered in Chicago, Illinois, with a regional office in Des Moines, Iowa, is a leading real estate investment firm that owns and manages market-rate multifamily and student housing communities across six states. With a Midwest-focused market-rate strategy and a national approach for student housing, ACG has grown its portfolio to over 7,000 apartment units since its formation in 2017. EOS is a fully integrated investment firm dedicated to identifying and creating value within the hospitality sector. EOS utilizes a highly selective investment approach focused on high-quality, differentiated assets with attractive risk-adjusted returns. Headquartered in New York City, EOS seeks investment opportunities across the United States, with an emphasis on major urban markets and resort destinations. TSB Capital Advisors is the national leader in student housing and multifamily real estate advisory services, and has offices in Phoenix, Arizona (headquarters), and Paoli, Pennsylvania. Since its creation in 2009, TSB Capital Advisors has helped close over 450 deals and more than $60 billion in student housing and multifamily transactions. https://www.multifamilybiz.com/pressreleases/17230/tsb_capital_advisors_arranges_joint_venture_and_ac... Thu, 18 Jul 2024 08:27:00 GMT d493948a-0c3f-4d47-ae4d-86cc43c11605 BOCA RATON, FL - Eastham Capital, a private equity real estate firm dedicated to providing superior, risk-adjusted returns to investors through the transformation of undervalued multifamily real estate, has been awarded the title of Top Performing Real Estate Fund Manager in America by Preqin, the global leader in alternative assets data, tools, and insights. The Preqin Awards recognize the most outstanding performers across hedge funds and private capital that are driving innovation and transformation within the alternative assets industry on a global scale. "We are incredibly honored and humbled to receive this recognition from Preqin," said Matthew Rosenthal, founder and managing director of Eastham Capital. "This award is a reflection of the hard work, dedication, and expertise of our entire team. We remain committed to delivering exceptional value to our investors and driving positive change in the communities we serve." Preqin's rigorous methodology for determining the winners of the 2024 Preqin Awards ensures that only the most deserving firms are recognized. Funds were assessed based on strict eligibility requirements and ranking criteria, with the Preqin data team conducting a final review of all relevant data points on firm and fund profiles using Preqin Pro, the company's flagship alternative assets data platform. Outreach was also conducted with each fund manager to confirm data accuracy. The prestigious accolade is a testament to Eastham Capital's unwavering commitment to excellence and its ability to consistently deliver superior returns for its investors. The firm's data-driven approach, combined with its deep understanding of the multifamily market, has positioned them at the forefront of the industry. Eastham Capital is currently investing its 6th fund and is in the process of launching fundraising for its 7th fund to begin later this year. Founded in 2007 by Matthew Rosenthal and Eric Silverman, Eastham Capital is a private equity real estate firm based in Boca Raton dedicated to providing superior, risk-adjusted returns to investors through investment in value-add or distressed multifamily real estate. Eastham Capital partners with local real estate owners and managers with operational expertise, and an exceptional track record in the management, repositioning and disposition of distressed real estate assets. To date, the firm has transacted on more than $5 billion in multifamily properties in collaboration with its local operating partners whose regions span the Continental US. Eastham Capital has earned above market returns in six funds since its inception in 2007. For more information, visit www.easthamcapital.com https://www.multifamilybiz.com/pressreleases/17226/eastham_capital_named_top_performing_real_estate_f... Thu, 18 Jul 2024 08:24:00 GMT 401be8f8-44ed-46bb-9c02-0cbb04c609f5 NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided a $29,432,000 HUD-insured loan to refinance a 240-bed skilled nursing facility in Tucson, Arizona. The financing was originated by Eric Rosenstock, Senior Managing Director at Greystone, on behalf of Sapphire of Tucson Properties, LLC. Sandstone of Tucson Rehab Centre in Pima County is a long-term skilled nursing and post-acute rehabilitation facility that includes 127 units, consisting of 43 private and 84 semi-private rooms. The facility offers 24-hour skilled nursing, post-acute care and specialized programs, including orthopedic and comprehensive rehabilitation, ventilator care, behavioral health services and chronic disease management. The permanent FHA loan carries a 35-year term and amortization. We lean into our deep industry expertise so our clients can reap the benefits of permanent FHA financing, which is a highly attractive long-term financing option for skilled nursing home operators, said Mr. Rosenstock. Greystone s time-tested HUD platform and process helps our clients to provide quality housing and care to their residents. Greystone s extensive experience in the skilled nursing space was clearly evident as they worked diligently to secure us the right terms for this facility, said Mr. Elisha Atkin, principal of the borrower. The level of care and attention to detail we enjoyed from our team made us feel like we had a true partner throughout the process. About Greystone: Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com https://www.multifamilybiz.com/pressreleases/17229/greystone_provides_29_million_in_hudinsured_financ... Wed, 17 Jul 2024 08:19:00 GMT 712a34bd-8eaf-491f-acb8-f7285975916a DUBLIN, CA - Cityview, a premier multifamily investment management and development firm, has acquired Tralee Village Apartments in Dublin – California s fastest growing city. The three-story, 130-unit multifamily project is spread across two buildings and sits above more than 30,000 square feet of curated ground-floor retail, including eateries and service-focused shops. Tralee Village was a prime opportunity to acquire a well-located, high-quality asset in a highly sought-after submarket that has experienced significant population and employment growth since the pandemic, said Sean Burton, CEO of Cityview. With a 95% average historical occupancy and robust market fundamentals, Tralee Village fits squarely in our strategy of acquiring communities in supply constrained markets with high barriers to entry at significantly below replacement cost. Originally built in 2011, the community offers spacious one-, two- and three-bedroom floorplans featuring open concept layouts, in-unit washers and dryers, granite countertops, USB outlet ports, modern custom-wood cabinetry in two styles, central heat and air, large closets, 9-foot ceiling heights and stainless-steel appliances. Select units also feature vaulted ceilings, floor-to-ceiling windows and large balconies. Cityview is planning a comprehensive renovation of the interiors and common areas, including new unit flooring, lighting, kitchen and bathroom countertops and accessories. Tralee Village residents have full access to community amenities including ground-floor retail, a resort-style pool and spa, high-end fitness center, clubhouse, business center, courtyard and BBQ area, playground, parcel lockers, bike storage and ample garage parking. Located at 6599 Dublin Boulevard, Tralee Village is ideally located in the Tri-Valley, which is increasingly recognized as the Bay Area s premier business ecosystem. Its centrally accessible location, relatively affordable office rents and highly educated workforce continues to attract innovative start-ups and well-established companies including 10X Genomics, Chevron, Workday, Oracle, Tesla, General Electric, SAP, Snowflake, TriNet and Accenture. Combining urban conveniences with suburban comforts, Dublin is located just 35 miles east of San Francisco and features highly rated public schools, 24 community parks, nearly 800 acres of open space and a wide array of cafes, restaurants and shops. The city is currently undergoing a vast mixed-use and pedestrian-oriented transformation as the Downtown Dublin Preferred Vision comes to fruition. With a 58% population increase from 2010 to 2020, and 10,000+ new residents expected by 2033, Dublin s multifamily market is experiencing growing demand and shrinking supply, making this a prime area for investment, added Burton. We look forward to reimagining Tralee Village and elevating its design, finishes and amenities to rival new Class A communities. Conveniently situated at the intersection of I-580 and I-680, Tralee Village residents have easy access to the West Dublin/Pleasanton BART station as well as the nearby employment hubs of Silicon Valley, San Francisco, Oakland, Berkeley, Walnut Creek and the Peninsula. Jason Parr at Berkadia brokered the transaction. Westhome, an affiliate of Cityview, will serve as the property manager. About Cityview: Founded in 2003, Cityview is a vertically integrated real estate investment management and development firm focused on multifamily housing in gateway markets in the Western U.S. Specializing in developing, acquiring, and operating opportunistic and value-add multifamily projects, Cityview creates sustainable housing options in transforming areas, changing cities into communities, people into neighbors and houses into homes. Cityview has invested in more than 130 projects to date. For more information, visit cityview.com https://www.multifamilybiz.com/pressreleases/17227/cityview_acquires_130unit_tralee_village_apartment... Wed, 17 Jul 2024 08:16:00 GMT 3b0d1871-350c-41e9-95ea-02976e67ec59 DENVER, CO - The Laramar Group, a leading national real estate investment firm, announced the promotion of Scott Kessel to Chief Financial Officer. Kessel previously was Vice President of Asset Management, overseeing asset management decisions for the company s extensive portfolio of multifamily and medical real estate assets. He also led the company s Financial Performance & Analysis department. As Chief Financial Officer, Kessel now directs Laramar's overall accounting decisions across individual properties and corporate level finances. He also oversees decisions on budgeting, forecasting, analysis, cash management, and accounts payable. Scott has made an incredible impact on the Laramar business with his analytical mindset, positive and professional demeanor, and strong work ethic, said Jeff Elowe, CEO of Laramar. He was an integral part of creating the company s truly dedicated Asset Management function and is a key resource helping to shape the financial direction of the company. In his previous position, Kessel was responsible for the development and execution of business plans, the analysis of portfolio performance, reporting, and providing support and direction to the operations teams. Over the past several years, he has helped build out the Asset Management department to include the property budgeting and forecasting process; all financial and operational reporting; cash management; property valuations; and debt tracking. Kessel joined the company in 2016 as a Director of Asset Management and was promoted to an Assistant Vice President of Asset Management in 2019. Prior to joining Laramar, he managed the Acquisition/Financial Planning & Analysis team with W.J. Bradley Mortgage Capital, a large non-bank residential mortgage firm. He oversaw the management of short- and long-term financial planning, cash forecasting, cost analysis, and financial reporting. Kessel received a B.S. degree in Finance from the Fisher School of Business at The Ohio State University. Founded in 1989, Laramar Group is a distinguished national real estate investment corporation with a multi-billion-dollar portfolio. For over 30 years, Laramar has delivered an unparalleled level of service to the real estate industry. Laramar has a presence in over 15 markets, with historical presence in 50+ markets, from coast to coast and maintains corporate offices in Chicago and Denver. https://www.multifamilybiz.com/pressreleases/17225/laramar_group_announces_promotion_of_scott_kessel_... Tue, 16 Jul 2024 09:07:00 GMT 37ac8c06-71d3-49ee-a6b8-d8a374858c56 DENVER, CO - CBRE has arranged the $3.5 million sale of Cottonwood Creek Apartments, a 24-unit apartment community in Northeast Colorado Springs, to Cottonwood Creek Apartment Partnership, LLC. Willy Holliday and Kevin McKenna of CBRE represented the seller, Cottonwood Creek Apartments, LLC, and Kellen Dick of CBRE Debt & Structured Finance secured the financing in the transaction. We are thrilled to announce the sale and financing of Cottonwood Creek, located in the highly sought-after Northern Colorado Springs submarket, said CBRE s Holliday. It was a pleasure representing the seller, who has owned and meticulously maintained the property for over 30 years. The new buyer is poised to capitalize on the significant operational upside that this asset offers. We commend all parties involved for their dedication and professionalism in navigating a challenging transaction environment. Located at 1419-1431 Imperial Road., the 17,952-sq.-ft. garden apartment community is divided into four three-story buildings. Built in two phases, 12 units in 1978 and 12 units in 1983, most of the units (92%) are two-bedrooms and the remaining are one-bedroom. All units include an electric range and GE appliances, with select units having washer and dryer hookups, private balconies or patios and wood-burning fireplaces. In a tough lending environment, the Freddie SBL program continues to provide the necessary capital for workforce housing, said CBRE s Dick. We were able to arrange competitive debt that will allow the buyer to acquire the asset and implement their value-add plan. Cottonwood Creek is situated between I-25 and Powers Blvd., Northeast Colorado Springs primary thoroughfares, providing residents easy access to the city s major employment hubs, including downtown Colorado Springs and the Powers Corridor. The apartment community is near UCHealth Grandview Medical Center, The University of Colorado at Colorado Springs, Austin Bluffs Open Space, and retail, dining and entertainment options on Academy Boulevard. About CBRE Group, Inc: CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com. https://www.multifamilybiz.com/pressreleases/17224/cbre_arranges_35_million_sale_of_24unit_cottonwood... Tue, 16 Jul 2024 09:03:00 GMT 5bd4e39d-98b1-45ae-9b66-6c3938398105 MIAMI, FL - Kushner, a real estate development and management firm with a residential portfolio of more than 21,000 units across 14 states plus a development pipeline of 10,000 apartments, and PTM Partners, a leading real estate investment management and development firm with projects up and down the east coast, has announced the start of leasing of luxury rental residences at 2000 Biscayne Boulevard. At 36-stories high, the building offers a collection of 420 studio and one-, two-, and three-bedroom luxury apartments ranging from 500 to 1,500 square feet. Kushner and PTM have appointed SERHANT. New Development as the exclusive marketing and leasing agency of record for the building. Inspired by Miami's natural landscapes, 2000 Biscayne was curated to offer an elevated living experience, with designs by award-winning Kobi Karp Architecture in collaboration with Restoration Hardware for interiors. The focal point upon arrival is the lobby with modern finishes, double-height, floor-to-ceiling glass for abundant natural light, and bespoke green walls. The residences elevate the Miami rental experience with apartment features that include open concept layouts, modern flooring and finishes throughout, stainless steel appliances, Italian kitchen cabinetry and bathroom vanities, inresidence laundry, and floor-to-ceiling windows with outdoor private terraces in select residences. 2000 Biscayne brings an unparalleled level of luxury, health, wellness, and entertainment to the market that redefines rental living in this thriving area of Edgewater, said Laurent Morali, CEO of Kushner. SERHANT. New Development s dedicated division for the leasing, sales, and marketing of new development projects was an obvious choice for us and PTM as we planned to bring this project to market. This project is emblematic of the Edgewater neighborhood s immense potential amid sustained rental demand in the market, said Michael Tillman, Chief Executive Officer and Chief Investment Officer, PTM Partners. We are proud to deliver a refined experience to meet the demands of Miami s discerning renters, and look forward to working with SERHANT. New Development to let the world know about the unmatched lifestyle residents can experience here. The amenity collection includes a state-of-the-art fitness center spanning more than 5,000 square feet equipped with the latest cardio and weight strengthening equipment, a wellness spa with sauna, steam, and massage treatment rooms, a TULU room for on-demand rental access to living essentials, a gaming club room, a dedicated play area for children, and pet spa. Outdoor amenities include a pool and sunbathing deck, resort-style pool cabanas and chaise lounge chairs, an outdoor gym and yoga area overlooking Biscayne Bay, as well as a heated soaking spa whirlpool, with expansive outdoor community lounge areas, and al fresco barbeque and dining areas. 2000 Biscayne also offers valet service and self-parking with gated garage access, electric vehicle charging stations, 24/7 concierge services, and a first-class on-site management and maintenance staff. We are excited to work with Kushner and PTM Partners for their newest project, 2000 Biscayne, which offers a sophisticated take on the high-end rental lifestyle in a fantastic area of Miami, said Ryan Serhant, Founder and Chief Executive Officer, SERHANT. Both firms bring a wealth of expertise in the rental sector, and we are thrilled to bring this building to market and present it to our global client base. Conveniently located on Biscayne Boulevard, the building is centrally located in the Edgewater neighborhood. Within minutes, residents can easily access major roadways and transit, including I95, Palmetto Expressway, Miami International Airport, Brightline High Speed Rail station, and three bridges to Miami Beach via 395, 195 and the Venetian Causeway. 2000 Biscayne is also within proximity to neighboring hotspots like Downtown Miami, Brickell Financial District, the Design District, Wynwood, and Miami Beach. Since launching in the Miami market in 2023, SERHANT. New Development has rapidly expanded its portfolio of exclusive development marketing, sales and leasing projects, including the successful lease-up for Kushner s WYND 27 and 28 rental buildings in Wynwood along with additional projects signed and forthcoming in 2024. SERHANT. was founded in September 2020 and has since become one of the fastest-growing and top-ranking tech-enabled real estate firms nationwide. Its content-to-commerce real estate ecosystem is mobile first, with a first-of-its-kind in-house film studio for organic lead generation, creating customer acquisition for its two core businesses: brokerage and education. In just three years, SERHANT. has achieved more than $4B in real estate sales, has attracted top talent nationwide, and has cemented its presence in the most exclusive real estate markets. For more information about 2000 Biscayne, visit www.2000biscaynemiami.com About SERHANT: SERHANT. is a multidimensional real estate and media company designed for the marketplace of tomorrow. The company grew from the #1 ranked sales team in New York City into a full-service brokerage, digital education platform, investment incubator, and creative film studio that develops content for social, sharing and streaming. This model is revolutionizing the real estate industry and transcending it to the tech, media, education, entertainment industries. The SERHANT. real estate brokerage includes residential real estate and specialty divisions SERHANT. Signature, focused on high net-worth clientele and properties priced over $10 million USD, and SERHANT. New Development, focused on the sales and marketing of new construction projects, complete with its complementary ID Lab which forms the brand identity and marketing for developments. SERHANT. Studios, its full-service film studio and production division, concepts and distributes all content from social assets to the streaming channel LISTED on YouTube. SERHANT. Ventures, the education and innovation arm of the company, manages the global Sell It Like Serhant digital educational system and innovates and invests in EdTech. SERHANT. was founded in September 2020 by top real estate broker and star of Bravo's Million Dollar Listing New York Ryan Serhant, with a commitment and vision to amplify the success of others: executives, brokers, developers, clients, global course members, and the industry as a whole. Learn more at www.serhant.com About Kushner: Founded in New Jersey in 1985, Kushner is a diversified real estate organization responsible for the ownership, management, development, and redevelopment of properties through the country. Kushner currently owns and operates over 21,000 units in 14 states and has a multifamily development pipeline of over 10,000 units. Learn more at www.kushner.com About PTM Partners: PTM Partners (PTM) is a real estate investment and development firm that seeks community-oriented development opportunities that create substantial value for its residents, partners, and investors. Initially focused exclusively on Qualified Opportunity Zones, PTM has become one of the largest Opportunity Zone fund managers in the country. Founded by Nicholas Pantuliano, Michael Tillman, and Scott Meyer, all former senior executives of the Lefrak Organization, PTM focuses on making investment decisions that balance reputation and long-term profitability over short-term revenue maximization. The PTM team has collectively invested, developed, constructed, and managed more than $20 billion in real estate covering a broad range of mixed-use development projects in Florida, New Jersey, New York, and Washington, D.C. For more information, please visit www.ptmpartners.com https://www.multifamilybiz.com/pressreleases/17223/kushner_and_ptm_partners_launch_leasing_at_420unit... Mon, 15 Jul 2024 08:59:00 GMT ae32a9b7-0f2c-4473-9682-f401d33b6ecd NEW YORK, NY - Greystone, a leading national commercial real estate finance company, announced that William Bill Iacobucci has joined the firm as a Senior Director, Real Estate Lending. In this role, he will leverage his experience as former co-head of Fannie Mae s Student Housing Finance Team and Structured Finance to lead Greystone s lending efforts in these areas. Based in Atlanta, Mr. Iacobucci reports to Senior Managing Directors Charlie Mentzer and Brad Waite. Immediately prior to joining Greystone, Mr. Iacobucci served as Fannie Mae s Vice President of Multifamily Structured Finance where he was primarily responsible for Credit Facilities and Large Portfolio/Bulk Deliveries across the Fannie Mae Multifamily DUS® platform, developing relationships with Lenders and Borrowers, sourcing loans, and executing transactions in these areas across a $64 billion loan portfolio. He also previously served as a Senior Director – Multifamily National Account Management at Fannie Mae, as well as Director of Fannie Mae Multifamily Credit – Northeast Region. Earlier in his career, Mr. Iacobucci was Vice President of Community Development at SunTrust Bank, where he focused on LIHTC developments and neighborhood revitalization plans. He also spent 10 years as Founder and CEO of Regency Advisors International, Inc., a multi-faceted real estate consulting firm specializing in the development of affordable housing, loan portfolio management, bankruptcy litigation and loan workout resolutions. He has also held roles at various financial institutions including Financial Federal Savings Bank as Vice President of Commercial Loan Portfolio Management and GSE Multifamily Servicing & Origination; National Bank of Commerce as Vice President & Whole Loan Trader of Commerce Investments; Freddie Mac as Regional Portfolio Manager, Southeast Multifamily Region; and, Johnstown Mortgage Company as a Senior Commercial Real Estate Loan Officer. Mr. Iacobucci holds a Bachelor s degree from Georgia State University and has served as a Charter Investor and Advisory Board Member of United Americas Bank (aka Banco Unidos- Atlanta, GA), a Federally chartered De-Novo Hispanic Bank; is a past inductee to the Leadership Sandy Springs, a 501c(3) corporation focusing on relationship development and outreach with key business leaders within Metropolitan Atlanta and the City of Sandy Springs; is a past Board Member of the Sandy Springs Foundation; is a past Board Member of Sandy Springs Revitalization, Inc.; and, is a past Board Member of the Atlanta Hispanic Chamber of Commerce, a 501c(3) corporation responsible for the promotion of business within the Hispanic Community and between Hispanic and non-Hispanic businesses. Bill is a powerhouse addition to our team, and his background is so diverse and wide-ranging, that there s no limit to what he can contribute here at Greystone, said Mr. Mentzer. We are so thrilled to have his leadership and expertise on our team as we stay laser-focused on growth and driving value for our clients. "We are thrilled to welcome Bill to our team," said Mr. Waite. "With his decades of experience in the industry, Bill brings a wealth of knowledge and a proven track record of success. His expertise will be invaluable as we continue to innovate and drive growth, ensuring that we remain a leading lender. We look forward to the positive impact Bill will undoubtedly have on Greystone and our clients." About Greystone: Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com https://www.multifamilybiz.com/pressreleases/17222/william_iacobucci_brings_structured_finance_expert... Mon, 15 Jul 2024 08:50:00 GMT 7bfe44da-eda4-4f38-9aa9-e7ec94f4fb43 CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $11.2 million sale of a multifamily property at 452 W. Oakdale Ave. in Chicago s Lakeview East neighborhood. The 48-unit building traded in an off-market deal for $233,646 per unit. Interra Senior Managing Partner Joe Smazal represented the buyer, Beal Properties, a Chicago-based private investment firm owned by Bill Silverstein. Smazal also represented the seller, a local investment group led by Cagan Management. Last October, Smazal and Interra Managing Partner Craig Martin represented Beal Properties in the $17.5 million acquisition of 528 W. Oakdale Ave., a 60-unit apartment building less than one block away. With very little supply coming online on the city s North Side, the investment outlook is strong for well-located midsize apartment properties, said Smazal. We were happy to help Beal expand and fortify its Lakeview portfolio with this new deal. Constructed in 1971, the property includes 16 studios and 32 one-bedroom units. All apartments were occupied at the time of sale. 452 W. Oakdale is surrounded by Lakeview East s numerous dining, shopping and entertainment options and is within walking distance of the Lincoln Park Zoo, Diversey Harbor and North Avenue Beach. The property is served by the CTA s Wellington Brown Line station and multiple bus routes. About Interra Realty: Founded in 2010, Interra Realty is a Chicago-based commercial real estate services firm that delivers integrated, tailored solutions through its boutique, client-focused approach and team of experienced professionals. Since its inception, the firm has closed thousands of transactions valued in excess of $2 billion spanning the multifamily, office and retail sectors, as well as loan sales. Interra s clients range from private investors and high-net-worth individuals to large financial institutions, private equity groups and hedge funds. For more information, visit www.interrarealty.com https://www.multifamilybiz.com/pressreleases/17221/interra_realty_brokers_112_million_sale_of_48unit_... Fri, 12 Jul 2024 09:15:00 GMT 11ad4c51-85f1-4a8f-962c-940a1c0293ce CHICAGO, IL - Chicago-based Draper and Kramer, Incorporated, a national full-service real estate firm, is pleased to announce that Kevin Cooky, assistant vice president, regional property manager and revenue manager, has been approved as a member of the Chicagoland Apartment Association (CAA) board of directors. His term on the CAA board – which is responsible for oversight of the association s finances, strategic plan, events and programs – goes through the end of 2025. Cooky brings over 15 years of experience in real estate operations and management to the CAA board. His career with Draper and Kramer started in 2018 as general manager of 1350 North Lake Shore, a 740-unit rental property in Chicago s Gold Coast neighborhood. He was promoted to his current position earlier this year from his prior role as revenue manager and general manager. Additionally, he has served as the firm s in-house Yieldstar and Revenue IQ expert, working closely with Draper and Kramer s multifamily sites to ensure occupancy stabilization and rent growth. We are proud of our firm s long-standing relationship with CAA, an organization dedicated to serving the needs of the apartment industry across Chicagoland as a reliable source of information and training, said Julie Stevlingson, senior vice president and director of management services at Draper and Kramer. With his leadership skills and vast knowledge of property management and revenue metrics, Kevin is a fantastic addition to this prestigious board, and we are excited to have him representing Draper and Kramer in this capacity over the next two years. Cooky is an Illinois Licensed Real Estate Broker and a Certified Property Manager (CPM) through the Institute of Real Estate Management. He holds both bachelor s and master s of science degrees from the University of Illinois Urbana-Champaign. About Draper and Kramer, Incorporated: Founded in 1893, Draper and Kramer, Incorporated, is a trusted financial and property services provider with a deep commitment to people, excellence, service and integrity spanning more than 130 years. Family-owned and one of the leading privately held real estate services firms in the U.S., Draper and Kramer is headquartered in Chicago with a national reach and broad offering of services. The company s decades-long heritage has evolved over the years and today spans expertise in residential and commercial development, acquisition, property management and leasing; and debt and equity financing for commercial properties. Draper and Kramer provides a single source of real estate-related counsel to a diverse group of real estate investors across the U.S., including corporations; private and institutional owners and users of real estate; government agencies; and foundations. For more information, visit www.draperandkramer.com https://www.multifamilybiz.com/pressreleases/17220/draper_and_kramer_assistant_vice_president_kevin_c... Fri, 12 Jul 2024 09:11:00 GMT 74eb9c0b-7e3e-4f41-b993-6f7c9c669c5f WESTLAKE VILLAGE, CA - Knighthead Funding LLC ( Knighthead ) has provided a joint venture led by local development firm CA South with $22 million in first mortgage loans to refinance The Luna, a recently completed 108-unit multifamily community in Nashville, TN. The loan proceeds from Knighthead s two-year, fixed rate, interest-only financing will be used to take out the maturing construction loan on the property and allow for continued stabilization. The Luna has exhibited strong leasing velocity since it was completed in 2023. The Luna is located at 1009 8th Avenue South in the popular Edgehill neighborhood, two miles south of Downtown Nashville. The highly amenitized property attracts residents seeking direct access to the approximately 78,000 jobs and the rich entertainment environment in downtown Nashville. This is Knighthead s fifth loan with CA South, a vertically integrated real estate firm that has successfully brought to the Nashville market approximately 500 residential units, 852,000 square feet of industrial and 78,000 square feet of office space since its founding in 2016. CA South is a repeat borrower with a substantial history of success both in this product type and submarket, said Peter Illuzzi, who led the Knighthead origination team. We expect CA South to successfully execute the business plan on The Luna as it has done with all their other projects we have financed. Nashville s population of more than 2 million makes it the largest metropolitan area in a five-state region. It is home to corporate headquarters for industry giants like Nissan North America, Bridgestone Americas, Mitsubishi Motors North America, Tractor Supply Company, and iHeartMedia. Recently, Oracle announced its plan to move its headquarters to the Music City, citing that Nashville ticked all the boxes for Big Red s employees. The Nashville market is positioned for long term growth, fueled by the market s sustained population and many corporations continued desire for a presence in the market, added Knighthead Principal Jonathan Daniel. With an ongoing need for quality housing in the market, combined with the strength of sponsorship, this property is poised for prolonged success. https://www.multifamilybiz.com/pressreleases/17216/knighthead_funding_originates_22_million_bridge_lo... Thu, 11 Jul 2024 09:07:00 GMT 083decab-9a38-40f4-a451-65814da96072 FORT WORTH, TX - Woodfield Development, one of the nation s top 20 developers of Class A multifamily communities, announced it has broken ground and commenced construction on Northwest Village, a $101 million residential community in northern Fort Worth. On the heels of its explosive growth, Fort Worth is now ranked the 12th largest city in the U.S. As the firm s footprint continues to expand into new high-growth geographic markets, Woodfield Development first established a presence in Texas in 2021. With the addition of Northwest Village, the multifamily developer has commenced construction on 815 units, totaling $229 million in the state of Texas over the past three years. Consistently ranked as one of the fastest growing cities in the U.S. and buoyed by nation-leading population growth, we look forward to expanding our firm s presence in Fort Worth and throughout the Lone Star state, said Woodfield Development Partner, Adam Soto. Capitalizing on the burgeoning demand, our diversified development pipeline includes 687 units scheduled to close over the next two years in the region, equating to over $276 million worth of project value. Northwest Village will feature 455 luxury apartments across two buildings (a five and four-story building) with structured parking. Each building will offer studios, one-, two-, and three-bedroom units with rents ranging from $1,400 to $2,995 per month. In addition, the development will also feature four two-story townhome residences and one three-story townhome residence with rents starting at $3,300 per month. Various amenities include a large coworking space with private conference rooms and individual offices, a state-of-the-art fitness center with group fitness and yoga rooms, a two-story sky lounge, a game room with golf simulator and indoor putting green, two unique pools, and outdoor lounge areas for relaxation. The 15-acre complex is located within a larger 47-acre master plan development, Traditions at Northwest Village, that will incorporate commercial space for offices, retail, restaurants, a large public park, and hundreds of single-family rental homes. Woodfield Development closed on the acquisition of the property at the corner of Roaring River Road and State Highway 114 in June 2024. The first apartments are slated for completion in the first quarter of 2026. The project team for Northwest Village includes general contractor OHT Partners, architecture firm Corgan, interior design firm Thrive Interior Design, and civil engineering firm Westwood. For more information, please visit woodfielddevelopment.net https://www.multifamilybiz.com/pressreleases/17214/woodfield_development_breaks_ground_on_455unit_nor... Thu, 11 Jul 2024 09:02:00 GMT b703975e-db50-48a3-9713-df3cbef0da8e CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the sale of a three-building, 24-unit multifamily rental portfolio in Oak Lawn, Ill., for $3.15 million. Equating to $131,250 per unit, the transaction marks one of the highest prices paid per unit in the near southwest Chicago suburb over the last decade, per CoStar data. Located at 10310-10326 Mayfield Ave. and 10310 Mansfield Ave., the buildings each house eight apartments. Interra Director Michael Duckler represented the portfolio s seller, a private investor. . With limited for-sale housing inventory, there has been an increase in renter demand and, consequently, investor interest in rental properties, especially in stable suburban markets like Oak Lawn, said Duckler. This portfolio offered rare scale for the area, with units that were well maintained throughout the course of ownership. More than half the units were recently updated, presenting the buyer with an opportunity to add further value by renovating the remaining units and pushing rents. The portfolio s unit mix consists of 20 two-bedroom dwellings, two one-bedrooms, one three-bedroom and one four-bedroom. At the time of sale, the buildings were 96% occupied. The renovated units feature laminate and vinyl plank flooring, laminate countertops, new cabinets and updated bathroom vanities. The seller also had made a number of other recent capital improvements, including replacing water tanks, adding new windows, repairing roofs, and painting and adding new carpeting in common interior hallways. The properties include eight garage spaces, 48 exterior parking spots, shared laundry facilities and dedicated resident storage lockers. The properties are less than one-half mile from the Stony Creek Golf Course Complex, Memorial Park and the Chicago Ridge Prairie Nature Preserve. About Interra Realty: Founded in 2010, Interra Realty is a Chicago-based commercial real estate services firm that delivers integrated, tailored solutions through its boutique, client-focused approach and team of experienced professionals. Since its inception, the firm has closed thousands of transactions valued in excess of $2 billion spanning the multifamily, office and retail sectors, as well as loan sales. Interra s clients range from private investors and high-net-worth individuals to large financial institutions, private equity groups and hedge funds. For more information, visit www.interrarealty.com https://www.multifamilybiz.com/pressreleases/17211/interra_realty_brokers_315_million_record_sale_of_... Wed, 10 Jul 2024 08:49:00 GMT 7e1d96d6-fd79-4557-a7f0-ade735fac4a2 NEW YORK, NY - Greystone Monticello, a bridge lending provider specializing in capital finance products and services for the multifamily, healthcare, and senior housing sectors, announced that Sean Bryce has joined the firm as a Director, focusing on originating Multifamily bridge loans. Mr. Bryce is based in Atlanta, Georgia and reports to Eric Baum, head of Multifamily Bridge Lending at Greystone Monticello. We are pleased to welcome Sean aboard, expressed Greg McManus, Chief Operating Officer of Greystone Monticello. His established client network and extensive industry acumen will significantly enhance our bridge lending platform. Sean will play a pivotal role in driving our loan origination objectives forward and delivering unparalleled value to our clients. Sharing his enthusiasm, Mr. Bryce remarked, "Joining forces with Greystone Monticello represents an exceptional opportunity to collaborate with an esteemed entity in the real estate finance domain. I am excited to have the opportunity to help the Greystone Monticello team continue to grow their client relations and build on what is already a robust loan origination team. Mr. Bryce has 12 years of experience originating and managing commercial real estate debt investments on all property types across the United States. He most recently served as an Assistant Vice President for Voya Investment Management where he focused on originating commercial mortgage loans as well as leading workout efforts for various special situations within Voya's CML portfolio. Prior to Voya, Mr. Bryce was a Senior Associate with Walker & Dunlop Investment Partners (formerly JCR Capital) in Denver, Colorado. Sean began his career at RAIT Financial Trust, a mortgage REIT focused on value-add and transitional commercial real estate. In each role, he was responsible for all aspects of the debt investment including sourcing, evaluation, loan structuring, term sheet negotiations, underwriting, and closing. He received a Bachelor of Science with concentrations in Finance and Real Estate from Villanova University. About Greystone Monticello: Greystone Monticello provides a wide range of bridge financing options in the multifamily and seniors housing industries along with hands-on collateral asset management to help service our clients. Greystone Monticello provides clients with exceptional service with breadth and depth of industry experience. For more information, visit www.greystonemonticello.com https://www.multifamilybiz.com/pressreleases/17210/greystone_monticello_welcomes_industry_veteran_sea... Wed, 10 Jul 2024 08:46:00 GMT 8dcf3c7e-58d7-45f3-8adb-000296532324 MINNEAPOLIS, MN - Jeff Rogers of the Fort Worth office of Colliers Mortgage closed a $13.9 million HUD 221(d)(4) loan for the new construction financing of Urban Village at Rosehill Apartments in Garland, Texas. When complete, the property will feature a single four-story building with elevators and a mix of 104 one-bedroom and two-bedroom market-rate apartment units. Community amenities will include a swimming pool, dog park, green space, clubhouse with a grand lobby, fitness center, community room, business center, and management office. The loan carries a 40-year term/amortization. About Colliers Mortgage: Colliers Mortgage is distinctively positioned to help meet our clients financing, funding and capitalization needs for the acquisition, refinance, construction, rehabilitation, equity bridge and permanent debt for a multitude of commercial property types nationwide. Our professionals work collaboratively to provide solutions that best fit each client s unique needs, offering access to federal agency loan programs, commercial finance solutions, and identifying capital sources for capitalization requirements. We also service all loans we originate and are currently servicing more than $14.0 billion of loans. About Colliers: Colliers is a leading diversified professional services and investment management company. With operations in 68 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 29 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.3 billion and $96 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn. https://www.multifamilybiz.com/pressreleases/17209/colliers_mortgage_closes_139_million_hud_construct... Tue, 09 Jul 2024 08:41:00 GMT 6cf328a5-81fd-4f97-9b51-3fe4e773a2d2 AUSTIN, TX - The Dinerstein Companies (TDC), a full-service real estate and development company, today announces the opening of its newest property, Atlas Eastside, a 304-unit, Class A multifamily development. Under the Atlas brand, the company s new multifamily brand specializing in Class-A conventional properties, TDC is developing properties across the nation, and Atlas Eastside is the first of its kind in Austin. We are very excited to introduce our first Atlas branded property in Austin, Texas, nestled within the dynamic East Austin locale, said Brad Dinerstein, Managing Partner of Development and Design at The Dinerstein Companies. This property marks a significant milestone for the Atlas brand as it signifies our expansion into one of the most vibrant and thriving cities in the country. Located at 4617 Tannehill Lane and conveniently situated adjacent to Highway 183, Atlas Eastside provides residents with quick access to downtown Austin, The Domain, the University of Texas campus and Tesla s state-of-the-art Gigafactory. The East Austin locale, one of Austin s fastest growing areas, seamlessly blends the charm of the old with the excitement of the new, with an array of restaurants and boutiques, providing residents with a dynamic culinary and shopping experience. Atlas Eastside is a five-story property that includes studio, one-, two- and three-bedroom apartment homes. Residences feature modern kitchens with stainless steel appliances, European inspired bathrooms, contemporary finishes throughout and in-unit washers and dryers. Some of the cutting-edge amenities at Atlas Eastside include Tesla EV chargers, Parcel Pending package lockers for secure deliveries and electronic unit locks that can be seamlessly operated through a smartphone or key fobs, ensuring residents enjoy the utmost convenience and advanced technology in their daily lives. Along with surface parking and a two-story parking deck, additional amenities include a resident lounge, clubroom, business lounge, expanded mailroom with package room and a multi-level fitness center. Outside, residents can unwind at the resort-style pool, make use of the summer kitchens and enjoy a pickleball court and a scenic trail system. Furthermore, pet owners will appreciate the property s dedicated pet park, just steps away from an on-site biergarten. Notably, Atlas Eastside is committed to eco-conscious practices, offering a range of green amenities for environmentally friendly living. These include ENERGYSTAR® windows and kitchen appliances, energy-efficient air conditioning and heating systems, ceiling fans for added efficiency, and energy-efficient lighting throughout. With its blend of modern living and eco-friendly initiatives, Atlas Eastside presents an inviting and responsible community for its residents. The City of Austin has consistently been ranked among one of the most desirable places to live for the past decade, said Dinerstein. The city s remarkable growth and influx of new residents are primarily driven by expanding employment opportunities. We are thrilled to contribute to Austin s thriving landscape with the introduction of Atlas Eastside." About The Dinerstein Companies: Founded in 1955, Houston-based The Dinerstein Companies (TDC) is a full-service real estate and development company that has developed over 80,000 multi-family apartments and 44,000 student housing beds across the country, totaling $5.01 billion in new developments since 2010. TDC currently has over $2.7 billion under development and is one of the leading green developers in the country with $3.03 Billion in LEED and Fitwell certified product completed or under construction. For more information on The Dinerstein Companies, please visit: www.dinersteincos.com https://www.multifamilybiz.com/pressreleases/17208/the_dinerstein_companies_expands_footprint_with_op... Tue, 09 Jul 2024 08:38:00 GMT c0242479-305b-4ae1-96b4-2e53011f49b7 NEW YORK, NY - Greystone, a leading national commercial real estate finance company, announced it has closed a bridge loan debt placement and preferred equity component to refinance a 248-unit multifamily property located in Fort Worth, Texas. The financing, $22.9 million in total, was originated by Lance Wright, Managing Director at Greystone, with Greystone s Thomas Wayda, Managing Director, and Dante Distefano, Analyst, handling the debt placement and Matthew Zisler, Senior Managing Director, securing the preferred equity on behalf of the client, MBP Capital Partners. The Barcelona on Chisolm Trail is a 17-building community spanning over 10 acres of land, and includes community amenities such as a swimming pool, playground, dog park, outdoor lounge areas, business center, fitness center, and clubhouse. The property is located in one of the most retail dense areas of Fort Worth and is within a one-mile radius of 5.2 million square feet of retail space, including the Hulen Mall within walking distance. The financing package placed by Greystone includes a $19.5 million 3-year bridge loan provided by a privately held debt fund and $3.35 million in preferred equity from Lubert-Adler Real Estate Funds. In working through a challenging refinancing strategy for The Barcelona property, we leaned on Greystone to help us find the right solution, and they certainly delivered in solving for our needs, said Mike Phillips, Chief Executive Officer, MBP Capital Partners. Greystone has the relationships a borrower needs when a financing request doesn t fit inside the box. Our Equity Services platform is a critical component to helping some borrowers get to the closing table, when traditional debt solutions might come up short, said Mr. Zisler. Our equity platform collaborators are eager to work with property investors to help navigate today s higher interest rate environment, which is inhibiting loan proceeds for many. By leveraging our extensive network of capital providers, Greystone s debt placement capabilities can provide alternative financing solutions for achieving property goals, particularly in a high interest rate environment with fewer market participants. Even with a strong foundational business plan, borrowers sometimes need options, which is our mission to provide, said Mr. Wayda. Mr. Wright added, It s gratifying to provide clients with what can sometimes seem like an impossible solution, and I m thrilled that we were able to collaborate across Greystone s debt placement and equity services platforms to assemble an attractive financing package for MBP Capital Partners. About Greystone: Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com Securities transactions are processed through INTE Securities LLC dba Greystone INTE BD, member FINRA. For information regarding INTE Securities LLC go to www.finra.org/brokercheck. https://www.multifamilybiz.com/pressreleases/17207/greystone_closes_229_million_in_debt_placement_and... Mon, 08 Jul 2024 08:32:00 GMT bf8eda06-daab-4f2e-a10b-dbfba86abd0c OAKLAND, CA - CBRE has arranged the sale of 0.43 acres in Berkeley, less than five blocks from the University of California, Berkeley. The undisclosed buyer plans to build a 52-unit, 232-bedroom student housing development on the site. Keith Manson, Zachary Greenwood and Mac Watson with CBRE s Oakland office represented the seller, 2565-2589 Telegraph Blake, LLC, a local private investor and related party of Anchor Valley Partners. The development site is located at 2587 Telegraph Ave. The project is approved and entitled for an eight-story, 112,562-sq.-ft. mixed-use building featuring studio, 4-, 5- and 6-bedroom units, including six affordable housing units. Additionally, the finished project will include 2,903 sq. ft. of ground-floor commercial space, 5,105 sq. ft. of outdoor space, a fitness room, amenity room, study pods and bike parking. With a limited pipeline of new construction on the south side of the UC Berkeley campus, strong rents and a growing U.C. Berkeley student, staff and faculty base, Berkeley continues to be one of the nation s premier student housing markets, said Keith Manson, senior vice president at CBRE. The Southside neighborhood, centered around Telegraph Avenue, is the epicenter of off-campus activity, including shopping, dining, nightlife and entertainment. The area is easily accessible to the rest of the San Francisco Bay Area via the downtown Berkeley BART station. CBRE reports only 320 units are under construction or approved within eight blocks south of the U.C. Berkeley campus and east of Shattuck Avenue. The average overall rent in the Berkeley submarket is expected to grow 19% over the next ten years, according to CBRE Econometric Advisors. About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com. https://www.multifamilybiz.com/pressreleases/17204/cbre_facilitates_sale_of_land_parcel_planned_for_t... Mon, 08 Jul 2024 08:29:00 GMT 69505320-09d2-4f23-a64a-155dee70774d TEMPE, AZ - Calmwater Capital has provided an Arizona-based private investment group with $10.5 million in short-term first mortgage debt to refinance a 65-unit multifamily property in Tempe, Arizona. The two-year senior loan is secured by The Heights on Lemon Apartments which is located on a 1.74-acre site at 1224 Lemon St. Built in 1966 and renovated in 2021, the garden-style community is made up largely of two-bedroom apartment homes housed in eight two-story residential buildings. Each unit features stainless steel appliances, wood-style flooring, washer and dryer, and spacious kitchens. Common area amenities include a pool, sundeck, courtyard and BBQ/picnic area. The property is currently 97% leased. The sponsor, an experienced multifamily investor and operator in the Phoenix area, acquired the property in 2021 with in place rents well below market. Since the purchase, the sponsor has invested more than $1 million on interior renovations, HVAC replacement, and multiple exterior upgrades. Since acquiring the asset, ownership has pushed rental growth and substantially improved the property, said Calmwater Director Zachary Novatt, who led the origination team that included Managing Principal Larry Grantham and Vice President DaJuan Bennett. The Calmwater bridge loan will provide the sponsor an opportunity to continue improving the asset while preserving flexibility, which has become very important in the current market environment. Heights on Lemon benefits from its location in the heart of Downtown Tempe, which serves as a central hub for shopping, dining, nightlife, and recreation for residents in the area, including the approximately 75,000 students and faculty that attend nearby Arizona State University. The large student population combined growing tech sector continue to be tremendous demand drivers for quality rental housing in Tempe. About Calmwater Capital: Calmwater Capital is a commercial real estate debt lender specializing in senior secured bridge and transitional loans. With offices in both Los Angeles and New York city metros, Calmwater provides certainty of execution and individualized attention to our borrowers nationwide. Founded in 2010, Calmwater has grown to attract institutional investors both domestically and internationally. Calmwater Capital has originated nearly $4 billion in loans across 243 transactions since 2010. For more information on Calmwater Capital, visit www.calmwatercapital.com https://www.multifamilybiz.com/pressreleases/17203/calmwater_capital_funds_105_million_bridge_loan_to... Fri, 05 Jul 2024 09:04:00 GMT 6837d286-6ddf-4a94-ba5d-5563dce489af CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the sale of a three-property, 18-unit multifamily portfolio on the city s Northwest Side near O Hare International Airport for $3.1 million, or $172,505 per unit. The six-flat buildings, at 8622 W. Berwyn Ave., 8657 W. Berwyn Ave., and 5240 N. Oakview Ave., were all constructed in 1969. Interra Managing Partner Patrick Kennelly, Managing Director Paul Waterloo and Associate Nathan Zito represented the portfolio s seller, a local partnership. The buyer, also a local partnership, was represented by Jay Chandran of Jay C. Realty. This marks Interra s fourth closing within the O Hare submarket in the last six months, including 8531-35 W. Bryn Mawr Ave. in December 2023 for $1.74 million. There remains high demand for investment properties near O Hare due to very little apartment vacancies in the submarket and a continuing increase in rents, said Waterloo. This portfolio offered a scale of units not often seen in the area, resulting in multiple offers and going under contact within a week of being on the market. The 8622 W. Berwyn property, which sold for $1.055 million, represented the highest price for a six-flat within the O Hare submarket in the last five years, per Redfin data. Under the same ownership for nearly 20 years, the building consists entirely of two-bedroom units and includes six surface parking spaces, on-site laundry and tenant storage. Two cornering properties, 8657 W. Berwyn and 5240 N. Oakview, sold for $1.05 million and $1.025 million, respectively. The Berwyn building consists of four two-bedroom, one three-bedroom and one one-bedroom unit, while the Oakview property includes six two-bedroom units. Previously under the same ownership for over 30 years, the buildings include a mix of garage and surface parking spaces, on-site laundry and tenant storage. The properties are close to the CTA s Cumberland Blue Line station, Kennedy Expressway and Schiller Woods, a 284-acre, multi-use forest preserve along the Des Plaines River. About Interra Realty: Founded in 2010, Interra Realty is a Chicago-based commercial real estate services firm that delivers integrated, tailored solutions through its boutique, client-focused approach and team of experienced professionals. Since its inception, the firm has closed thousands of transactions valued in excess of $2 billion spanning the multifamily, office and retail sectors, as well as loan sales. Interra s clients range from private investors and high-net-worth individuals to large financial institutions, private equity groups and hedge funds. https://www.multifamilybiz.com/pressreleases/17201/interra_realty_brokers_31_million_sale_of_threepro... Fri, 05 Jul 2024 09:00:00 GMT c318b1f9-2fcd-4ebd-b4d5-e23013358fbd CHARLOTTE, NC - Cushman & Wakefield has been exclusively retained to sell The Coves at Lake Wylie, a premier lakefront residential development site with 499 fully permitted residential lots. The project is in The Palisades, one of the most sought-after suburban neighborhoods in Charlotte, and is the last undeveloped community within the master-planned development. It is truly a unique homebuilding opportunity and one of the last of its scale still available in this explosive growth city. Alex Phillips, Andrew Slowik, Louis Smart and Battle Smith of Cushman & Wakefield are representing the seller, Drapac Capital Partners, in all marketing efforts. The property will be sold with an approved Land Disturbance Permit (LDP), providing the rare opportunity for development to begin immediately following its sale. The team will be collecting offers on June 27, 2024. "This is a special property positioned in a severely supply constrained submarket. It presents the right buyer an opportunity to deliver a one-of-a-kind asset with a mix of townhomes, detached single family, and lakefront options - not only homes but also an enviable waterfront amenity space. We anticipate the unrivaled scale will attract regional attention, said Phillips, Director within Cushman & Wakefield s Sunbelt Multifamily Advisory Group. The three-acre waterfront pad included with The Coves at Lake Wylie offers an exciting opportunity to deliver a market-leading private amenity. This concept includes a pool, clubhouse, pickleball courts, multi-slip dock, ramp and kayak launch. Extensive walking paths and lawn space can be programmed to enhance resident wellbeing. Docks are permitted through Duke Energy and the amenity site plan through Charlotte Land Development. A highly desirable and irreplaceable in-place zoning that allows for a strategic mix of single-family detached, townhome and lakefront lots. Additionally, there are no rental restrictions on the single-family portion of the property (73%), no minimum home size and limited off-site requirements. Once built, the community will become part of the award-winning 1,600-acre, 12,800 home master-planned community known as The Palisades. Future residents will benefit from access to a wider range of resort-style amenities than any other neighborhood in Charlotte such as a golf course, sports complex, and equestrian center. The Coves at Lake Wylie will also be ideally situated near national retailers, grocers, and a variety of restaurants and just 30 minutes away from Charlotte s city center, offering unmatched accessibility. Charlotte s average population growth of 3.3% over the last five years is approximately eight times the national average. The metro was the sixth fastest growing in the U.S. in 2023 with close to 1,000 people per week moving to the area. "Through first class stewardship, Drapac unlocked an opportunity to capitalize on Charlotte s explosive population growth and deliver one of the Southeast s preeminent communities. We are excited to partner with their team in identifying the prospective purchaser best positioned to deliver on the vision, added Slowik, Managing Director and Lead of Cushman & Wakefield s National Land Advisory Group. Cushman & Wakefield s Sunbelt Multifamily Advisory Group is a 95-person investment sales team covering 11 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2023, the group closed $5 billion in sales volume through 151 deals and 26,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit multifamily.cushwake.com https://www.multifamilybiz.com/pressreleases/17199/cushman__wakefield_retained_as_exclusive_sales_age... Thu, 04 Jul 2024 08:55:00 GMT 7f082ead-80cb-4724-91f8-b7e589460056 PHOENIX, AZ - Greenlight Communities, along with Bryten Real Estate Partners, its selected property management company, announced leasing is now underway at their two newest apartment communities. Both communities are located in Metro Phoenix with move-ins set to begin in July and August. Greenlight s Streamliner communities are focused on providing residents with brand new rental homes within their budget in the cities they work in and enjoy. Streamliner 67th, located at 6755 West McDowell Road in Phoenix, is Greenlight s first Streamliner project with 292 rental homes in an area where housing is much needed. It will also provide great freeway access to the West Valley and Downtown Phoenix and is adjacent to a new mixed-use site which includes a Starbucks, Ono Hawaii BBQ and Cobblestone carwash for residents convenience. Move-ins at Streamliner 67th are set to begin early this July. Streamliner 16th, located at 1616 East Polk Street in Phoenix, will provide 208 units of budget-conscious rental homes with access to Downtown Phoenix, Tempe, and Sky Harbor airport. This community includes many unique design aspects to create a more urban feel including larger low-energy windows in the living room and bedroom. It also has numerous pedestrian connections to the surrounding community. Move-ins at Streamliner 16th are set to begin early this August. "Greenlight's new Streamliner communities provide all essential amenities while ensuring affordable monthly rents for Phoenix residents, says Amity Dalton, Vice President of New Development at Bryten. We are proud to be chosen to oversee the first two communities of this kind, filling a crucial gap in the area. We understand the challenges many Arizona residents face in securing modern, desirable communities at affordable rental rates." Streamliner communities are designed to provide renters with the amenities they want and need without anything unnecessary, to keep rent prices reasonable. Both communities offer studio, one and two-bedroom rentals. Each Streamliner s onsite amenities include a pool and fitness center, large co-workspace with wi-fi, indoor secured bike storage, community laundry facilities and a multi-purpose event lawn. In-home amenities include wood-style plank flooring, stainless steel appliances, faux wood blinds throughout, and a controlled access smart home system. "Greenlight is beyond thrilled to begin welcoming residents to our first two Streamliner communities," says Patricia Watts, Co-founder of Greenlight Communities. "These projects symbolize our commitment to developing housing for the hardworking residents of Phoenix. A substantial amount of thought and research has gone into crafting budget-conscious housing capable of delivering everything that our Streamliner communities provide and we take pride in that. About Bryten: Welcome to Bryten – Founded in 2023, Bryten has quickly become a leader in multifamily management, combining the expertise and experience of two previously established companies. Currently employing more than 1,150 extremely talented professionals, Bryten manages a portfolio of nearly 47,000 multifamily living units across the U.S., including Arizona, New Mexico, Tennessee, Florida, Colorado, Kentucky, Georgia, North Carolina, South Carolina, New York, and Texas. In addition, Bryten offers due diligence, advisory capacity, construction management, asset repositioning, and cutting-edge technology solutions. Headquartered in Phoenix, Bryten also has additional offices in Denver and St. Petersburg, Fla. The combined geographical presence allows Bryten to offer a transformative approach to multifamily living. Visit www.livebryten.com About Greenlight Communities: Greenlight Communities believes that everyone deserves to live in a home they can afford in a community that they love. By disrupting the traditional apartment model, Greenlight can develop attainable rental housing that meets the needs of today s budget-conscious renter. Combining modern design with technological advancements in construction and operations, Greenlight s Cabana and Streamliner apartment brands will provide studio, one and two-bedroom units in well-located communities through metro Phoenix. More than 5,000 units are currently under construction or in planning and development. https://www.multifamilybiz.com/pressreleases/17197/greenlight_communities_and_bryten_real_estate_part... Thu, 04 Jul 2024 08:51:00 GMT 3ff03476-011b-4afb-bcdb-65745c6f1b9f WASHINGTON, DC - NewPoint Impact Fund I (the Fund ) has provided $13.3 million in 501(c)(3) bond financing to facilitate the acquisition, rehabilitation, and recapitalization of Ridgecrest Apartments Phase II, a 128-unit affordable housing community located in the Anacostia submarket of southeast Washington D.C. The borrower is The NHP Foundation ( NHPF ), a New York-based not-for-profit developer that specializes in affordable housing. NewPoint Real Estate Capital ( NewPoint ) Senior Managing Director Bryan Dickson arranged and structured the tax-exempt construction-to-permanent phased bond financing through the NewPoint Impact platform. The transaction represents the inaugural residential rehab financed by the District of Columbia s Revenue Bond program supported through a tax-exempt 501(c)(3) bond transaction. This creative transaction involved a sophisticated joint effort between NewPoint, NHPF, DC Green Bank, and local agencies, including the Office of the Deputy Mayor for Planning and Economic Development, Department of Housing and Community Development, and District of Columbia Housing Authority, Dickson said. A willingness to explore an alternative solution in place of LIHTC resulted in a smart and efficient construction-to-perm financing that will revitalize an aging asset and create long-term affordable and supportive housing. The $13.3 million in Fund financing will be combined with $29.2 million in soft debt and grants from DC Department of Housing and Community Development (DHCD), including Housing Production Trust Funds (HPTF), $2.3 million in subordinate debt from DC Green Bank to execute the rehabilitation, as well as $2.2 million in deferred fees and other sources. Collectively, these resources will support long-term affordability and significant energy-efficiency improvements. Ridgecrest Phase II was previously operated as part of the larger Ridgecrest Village, a 1951-built development that was purchased by NHPF in 2019. After recapitalization, 20% of Ridgecrest Phase II s units will be restricted at 30% of AMI to serve as permanent supportive housing. The remaining 80% of units will be restricted at 50%, 60% and 80% of AMI per HPTF rent thresholds. Ridgecrest Phase II is among the first rehab projects of its size to transition to fully electric energy sources, aligning with District of Columbia goals for decarbonization. The aggressive plan to enhance energy efficiency is traditionally cost-prohibitive for affordable housing communities, but made possible through the transaction s structure and District funding. This closing marks a major milestone for the District of Columbia – it was funded without low-income housing tax credits and is the District s first 501(c)(3) municipal bond issuance funded by the Office of the Mayor for Planning and Economic Development to rehabilitate residential housing, said Pamela Lee, Assistant Vice President of Development at NHPF. The close collaboration between public and private groups sets a new standard for successful deal execution. The garden-style apartment community features a mix of two-bedroom and three-bedroom units ranging in size from 850 to 1,000 square feet. Community amenities include a laundry room, a playground, and surface parking. In addition, residents have access to the adjacent Villages at Parklands Splash Park, an 80,000-square-foot waterpark and pool. About The NHP Foundation: Headquartered in New York City with offices in Washington, D.C., Baltimore and Chicago, IL, The NHP Foundation (NHPF) was launched on January 30, 1989, as a publicly supported 501(c)(3) not-for-profit real estate corporation. NHPF is dedicated to preserving and creating sustainable, service-enriched multifamily housing, and single-family homes that are both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF s Construction Management Group provides in-house resources dedicated to infrastructure review, infrastructure development and cost management. Through Family-Centered Coaching, NHPF s subsidiary Operation Pathways engages with, and assists, families experiencing poverty and other hardship, to problem-solve together. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other not-for-profit organizations, NHPF has 59 properties in 16 states and the District of Columbia. For more information, please visit www.nhpfoundation.org About NewPoint Real Estate Capital: NewPoint is a prominent commercial real estate finance company delivering lending solutions to investors of multifamily, affordable housing, seniors housing, healthcare, and manufactured housing properties nationwide. In addition to NewPoint Impact and its Proprietary Lending platform, NewPoint is a Fannie Mae DUS®, Freddie Mac Optigo®, and FHA/HUD MAP and LEAN Lender, and also provides third-party placement solutions. For more information, please visit www.newpoint.com About NewPoint Impact Fund I: The Fund primarily invests in tax-exempt mortgage revenue bonds that finance affordable housing projects which are subsidized by LIHTC and owned by 501(c)(3) organizations or by for-profit developers that are subject to ongoing tenant income or rental restrictions. Additionally, the Fund may invest in taxable investments related to the bonds or the affordable rental housing sector in general, including loans, taxable mortgage revenue bonds, debt used to reposition a property in anticipation of a future LIHTC recapitalization or short-term bridge loans secured by the future capital commitments of a LIHTC investor. https://www.multifamilybiz.com/pressreleases/17196/newpoint_sponsored_fund_provides_133_million_in_ta... Wed, 03 Jul 2024 08:43:00 GMT c19deb1a-0770-462e-8a02-b235d710428a