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Thornton, Colo.—HFF announced that it has arranged $17.79 million in financing and $6.1 million in joint venture equity for the Village at Coronado, a 390-unit multi-housing community in Thornton, Colo. HFF worked on behalf of the borrower, Investors Management Group (IMG), to arrange a joint venture equity partnership with KCB Real Estate Management (KCB), who contributed $6.1 million in equity. Additionally, on behalf of IMG and KCB, HFF secured a $17.8 million, 10-year, 3. 85 percent fixed -rate loan through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus Seller/Servicer program. The debt and equity funding will allow IMG to further enhance the property beyond the renovations the previous owner completed from 2007 to 2008. The Village at Coronado is located at 1769 Coronado Parkway North approximately 10 miles north of Denver in the Adams County submarket . Situated on 12.59 acres, the 94 percent leased property in...

NEW YORK, NY - Centerline Capital Group , a provider of real estate mortgage services for conventional and affordable multifamily housing , announced today it has provided a Fannie Mae DUS loan in the amount of $3.25 million to refinance a multifamily property in Oak Park, Illinois.    Located at 1000 Pleasant Street, Fountainhead Apartments is a four-story building ( including unfinished basement at partially submerged garden level ) with two interior courtyards between the building’s three wings.  The property has five distinct addresses but is known primarily by its 1000 Pleasant Street address . The borrower is Fountain Head Apartments , LLC, an Illinois limited liability company , and Melvyn Kushner, a highly regarded real estate investor .  The property has been very well maintained by Kushner who has been engaged in ownership and management of multifamily complexes for nearly 40 years. “The Property was built in 1922 and has been well cared f...

In a red- hot apartment market , landlords are having no problems filling apartments . But filling ground- floor retail space underneath apartment buildings is a different matter, especially in sleepy corners of neighborhoods still developing. Some landlords are looking to change their line-up, converting storefronts to walk-out apartments. Other developers with projects still in the development stage are considering an approach that could be built out either way. Ground-floor retail has traditionally been seen by planners, developers and neighbors as key promoting street -level activity and vibrant urban neighborhoods . But more developers are starting to see potential downsides, too, which is pushing them to look at alternatives. “Retail is a fine idea, but as a planning tool, I think it’s been applied too liberally,” said Spencer Welton, a senior vice president for Simpson Housing. “It’s oversupplying the retail market, essentially.” Simpson in October turned the ground-floor ret...

“We went from a 3,000-square-foot colonial with three floors to a single-story, 1,400-square- foot living space ,” said Tena Bluhm, 76, formerly of Fairfax, Va. She and her 77-year-old husband, Ray Bluhm, moved this month to a retirement community in Lake Ridge, Va. Before the move, their two adult children took a handful of items, including a new bed and a dining table and chairs. But Mrs. Bluhm could not interest them in “the china and the silver and the crystal,” her own generation’s hallmarks of a properly furnished, middle-class home. The competitive accumulation of material goods , a cornerstone of the American dream, dates to the post- World War II economy , when returning veterans fled the cities to establish homes and status in the suburbs. Couples married when they were young, and wedding gifts were meant to be used — and treasured — for life. “Americans spent to keep up with the Joneses, using their possessions to make the statement that they were not failing in their caree...

By Steve Gravelle, correspondent Aug 27, 2017 at 6:46 am | Print View It’s changed the face of central Cedar Rapids , driving post-flood development in the New Bohemia and Kingston neighborhoods with new and reclaimed properties. In Iowa City, its backers see it as a way to downtown vitality. “From a community’s point of view, you get a more broad-based neighborhood,” said B.J. Hobart, managing member and co-owner of Hobart Historic Restoration of Cedar Rapids. The suburban single- family home isn ’t going away, but so-called mixed-use projects incorporating residential and retail, commercial and sometimes even light-industrial spaces in the same or adjoining buildings offer different options to residential and business tenants. In some places — think dense urban neighborhoods and small- town main streets with apartments above ground-floor retail shops — mixed-use patterns never went away. Mixed-use is especially appropriate in Iowa City’s central neighborhood...