News

"We continue to make progress on deleveraging our balance sheet through asset sales," states David Blackman, president and CEO of Office Properties Income Trust.

The firm has appointed Evan Layne, Brett Siegel and Jean Celestin of Eastdil Secured to lead the investment sales division.

The hiring marks Walker & Dunlop's first dedicated capital markets hire in the robust New England market.

Howell, NJ-based brokerage firm Capital Realty Associates, reports it brokered the sale of 458-460 and 549-551 Mercer St. for $2.25 million, which calculated out to a 5% cap rate.

The two residential towers (19 and 21 stories) will accommodate approximately 1,000 students in single, double, and suite-style units with panoramic views of the New York City skyline.

The firm, the student housing investment and development division of Chicago-based CA Ventures, will open the student housing communities that total more than 3,000 beds in Florida, Indiana, Illinois, Iowa, Ohio and Pennsylvania.

The 396-unit garden apartment community on Townsend Boulevard includes 13 buildings on both sides of Townsend Boulevard.

SunTrust originated a $48.49-million 10-year term loan with nine-years interest only followed by a 30-year amortization schedule for The Preserve at Henderson Beach, a 340-unit multifamily property located at 4131 Commons Drive West in Destin, FL.