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Housing Trust Group also made a key appointment for its Florida operations. The firm reports that executive vice president Max Cruz has been named to lead all multifamily development activity in Florida.
The deal, which calculates out to $161,538 per unit marks Aegon RA's first multifamily purchase under its recently formed Workforce Housing Investment program.
“Eric is so unique, both creative and analytical, with a deep financial expertise that will serve his clients well," says Doug Sayer, president and CEO of Colliers in Philadelphia.
Located at the eastern edge of the desirable Sunset Corridor, the class-A Cornell West office building has a consistent history of stable tenancy, making it a safe bet for institutional buyers, says its JLL lead broker.
"Infill product close to New York City has become more expensive to lease and difficult to acquire as a result of limited supply and voracious tenant demand," says Christopher M. Bellapianta of Camber Real Estate Partners.
The Apartments at Lincoln Common offer 538 studio, one-, two- and three-bedroom rental residences and penthouses across two separate towers designed by Skidmore, Owings and Merrill in partnership with Antunovich Associates.
WeWork is setting up shop in five full floors totaling 12,000 square feet in a long-term lease valued at more than $10 million in the 110-year-old 50,000-square-foot office tower in Union Square.