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Lake Village Apartments is one of two Ann Arbor complexes bought this month in a record- setting deal involving The Habitat Co. Chris Asadian | AnnArbor.com Two of Ann Arbor ’s largest commercial properties were bought for a combined $85.7 million this month by an entity of the Chicago-based company that had been managing them. The Habitat Co. LLC acquired Windemere Apartments and Lake Village of Ann Arbor from Northwestern Mutual Life Insurance Company . The deals set records in the Ann Arbor market for the price paid per unit, signaling local impact of the national multifamily market experiencing a rebound. Sources said the Windemere deal is a record $92,083 for the 1980s-era property on the city’s north side near Nixon Road. And the Lake Village deal , at $115,277 per unit in the complex on South Main Street , is the highest in the market, based on information available to Habitat, said Matt Fiascone , senior vice president of finance and investment. “We think it’s the high...

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Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite . Get your Free Trial here. CHARLOTTE, N.C.--(BUSINESS WIRE)-- Marcus & Millichap (NYSE: MMI) today announced that its financing subsidiary, Marcus & Millichap Capital Corp . (MMCC), has arranged $35.8 million in refinancing for Aurora Apartments in Charlotte, North Carolina. The loan was structured with an adjustable interest rate over a seven- year term amortized over 30 years. “MMCC has an existing relationship with the borrower who sought our services based on our reputation as a low-cost provider and our ability to execute complex financing transactions flawlessly ,” said Richard Katzenstein, senior vice president and national director , MMCC. “Leveraging our partnership with PGIM Real Estate Finance , we were able to provide a low- cost capital solution with attractive terms well beyond what the borrower was able to find elsewhere in the marketplace. In addition, MMCC’s e...

FREMONT, Calif.--( BUSINESS WIRE )-- Creekside Village Apartments , a 480- unit rental community located in the East Bay city of Fremont, received a Superior Overall Score by SatisFacts Research LLC , the multifamily industry's premier resident satisfaction research provider and leading authority on resident retention. Each year, SatisFacts surveys tens of thousands of apartment residents nationwide. The recognition marks the third year this Fremont California apartment community has achieved a superior score and received a National Award from SatisFacts. SatisFacts uses a five- point satisfaction rating system focused on surveying how residents feel about their living environment and service. The firm conducted a random sampling and telephone methodology as part of its resident satisfaction survey of residents living in Shea's apartment communities . Shea currently owns and manages over 6,000 apartments in California . “The best way to find out whether your customers are...

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SAN JOSE, Calif.--( BUSINESS WIRE )--Marcus & Millichap (NYSE: MMI) announced today its Institutional Property Advisors (IPA) Capital Markets group has arranged $32.5 million in bridge financing for Terra Willow Glen , a 112-unit apartment property constructed in 1979 in San Jose, California. The loan-to-cost was 73 percent. “The borrower purchased the asset in cash, six months prior to exploring value- add financing options ,” said Jake Roberts, a senior managing director of IPA Capital Markets . “This is an incredibly unique property that offers a resort-like setting but has few comps, which can make it more difficult to secure value-add debt given the fact that lenders don’t like to stretch on proceeds if a property isn’t easily comparable to other assets in the market.” Roberts, along with Anita Paryani-Rice, a first vice president of IPA Capital Markets, arranged the loan on behalf of the borrower, who is a repeat client. “Initially the borrower planned to take a lower l...

Village Mission Valley " /> The Village Mission Valley Commercial property owner and developer The Irvine Co. has completed a $150 million renovation of its 1,410- unit apartment community in Mission Valley , now known as The Village Mission Valley . Company officials said the property, formerly known as La Mirage Apartments , now has a renovated clubhouse with a wine and beer bar, an indoor- outdoor terrace overlooking its swimming pools, and a Wi-Fi lounge. There are also new poolside cabanas and a private dog park . The renovation marks the largest apartment reinvestment in the 151-year history of the Newport Beach- based Irvine Company , officials said in a statement. Irvine Co. acquired the Mission Valley property in 2013. The Village, at 6560 Ambrosia Drive near Interstate 8, is among several communities owned by Irvine Co. in the local market. The company owns and operates approximately 135 apartment communities in Southern California and Silicon Valley....

Marcus & Millichap (NYSE: MMI) announced today its Institutional Property Advisors (IPA) Capital Markets group has arranged $32.5 million in bridge financing for Terra Willow Glen , a 112-unit apartment property constructed in 1979 in San Jose, California. The loan-to-cost was 73 percent. “The borrower purchased the asset in cash, six months prior to exploring value- add financing options ,” said Jake Roberts, a senior managing director of IPA Capital Markets . “This is an incredibly unique property that offers a resort-like setting but has few comps, which can make it more difficult to secure value-add debt given the fact that lenders don’t like to stretch on proceeds if a property isn’t easily comparable to other assets in the market.” Roberts, along with Anita Paryani-Rice, a first vice president of IPA Capital Markets, arranged the loan on behalf of the borrower, who is a repeat client. “Initially the borrower planned to take a lower leverage bridge loan option at lower pri...