DENVER, CO – Pinnacle, one of the nation’s leading multifamily management firms, announced it has been selected to manage Helios Apartments in Englewood, Colorado, a 258-unit luxury community located at 7901 East Belleview Avenue. The property resides in the heart of the Denver Tech Center, one of the city’s fastest growing areas for business and technology.

Helios is an amenity-rich apartment community designed with an extraordinary level of privacy, security and serenity. Residents can choose from a variety of one- and two-bedroom floorplans with contemporary interiors featuring custom kitchen cabinetry, Granite countertops, wood plank flooring and other design amenities.

Community amenities include an outdoor living area with fireplace and gas grills, inviting pool with landscaped sun decks, conference centers and silent spaces of relaxation where residents can stay fit and active. For ultimate convenience, residents benefit from on-site management, package receiving, an elevator, guest room, night patrol and a technology hub with full-connected computer kitchens.

Ideally situated just east of Interstate 25 and south of Interstate 225, Helios is surrounded by businesses and hotels in the DTC, restaurants, entertainment, retail and parks.

Pinnacle is a privately held national real estate provider specializing in third party management of multifamily residential communities. As one of the nation’s preferred third-party managers, Pinnacle’s portfolio includes over 165,000 residential units and 2.5 million square feet of commercial assets.

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WASHINGTON, DC – Militello Capital, a greater Washington, DC private equity firm, announced that it recently exited two multifamily properties. The properties were bought through QRM Capital, a joint venture between Militello Capital and QR Capital.

The properties sold include Hillwood Pointe Apartments in Nashville, Tennessee for $23.4 million and Hampton Oaks Apartments in North Charleston, South Carolina for $12.7 million.

Hillwood Pointe Apartments, a 180-unit multifamily apartment community located in Nashville, Tennessee, was bought in June 2014 for $14,850,000. Hillwood Pointe was built in 1997 and consists of one, two and three bedroom units. 

Hampton Oaks Apartments, a 160-unit apartment community located in North Charleston, South Carolina, was bought in December 2014 for $8,480,000. Hampton Oaks was built in 1972 and consists of one and two bedroom units. 

“We are extremely proud of the results of these two investments,” says Matt Brady, Co-Founder and Chief Operating Officer of Militello Capital. “It is very gratifying to deliver such value to our investors and the financial advisors that placed their trust and confidence in us when making these investments.”

Militello Capital is a private equity firm founded by Advisors for Advisors. We provide educational tools, technology and investments in the real economy to elevate Advisors’ businesses and modernize their clients’ portfolios.

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NEW YORK, NY – Mortgage rates continued to drop this week, with the benchmark 30-year fixed mortgage rate sitting at 4.18 percent, according to Bankrate.com’s weekly national survey. The 30-year fixed mortgage has an average of 0.25 discount and origination points.

Both the larger jumbo 30-year fixed (4.24 percent) and the average 15-year fixed mortgage (3.41 percent) remained unchanged this week. Adjustable mortgage rates were mixed, with the 5-year ARM slipping to 3.45 percent and the 7-year ARM dropping to 3.68 percent.

Mortgage rates fell for the third week in a row, despite a slight upward creep in inflation and wages. The Consumer Price Index went up 2.1 percent in 2016, which is higher than the Federal Reserve’s inflation target. The Fed also noted that businesses are seeing upward pressure on wages. The inflationary news didn’t push mortgage rates higher, though, as geopolitical uncertainty dominated.

At the current average 30-year fixed mortgage rate of 4.18 percent, the monthly payment for a $200,000 loan is $975.70.

SURVEY RESULTS

30-year fixed: 4.18% — down from 4.20% last week (avg. points: 0.24)
15-year fixed: 3.41% — unchanged from 3.41% last week (avg. points: 0.19)
5/1 ARM: 3.45% — down from 3.52% last week (avg. points: 0.34)

Bankrate’s national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in 10 top markets.

For a full analysis of this week’s go in mortgage rates, go to www.bankrate.com

The survey is complemented by Bankrate’s weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. The majority of the panelists – 46 percent – expect mortgage rates to remain more or less unchanged over the next week. About a third of the experts, 36 percent, predict further declines in mortgage rates while just 18 percent forecast an increase in the coming week.

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