Pittsburgh
CPC Arranges $11M for PA Asset
Terrain Apartments, formerly a hotel, includes 152 units across 19 buildings. The borrower used Freddie Mac’s Green Advantage program and committed to a 27.8 percent water savings.
Radnor, Harrison Street Pick Up Pittsburgh Student Housing
The partners acquired the 314-unit high-rise at Duquesne University for $23 million and will modernize the half-century-old community over the course of four summers.
GMH Capital Partners Opens PA Upscale Asset
The Pendleton at Cranberry Woods is 25 minutes north of downtown Pittsburgh and offers 320 units.
Pittsburgh’s Growth Spurt
Although underperforming against the U.S. average, the city’s multifamily market has stayed relatively stable.
PA Community Receives $9M Freddie Mac Loan
The borrower used the current loan to pay off debt service and prepayment penalty, while also recovering trapped equity, which will be reinvested into the apartment community.
$16M Senior Housing Community Opens in Pittsburgh
The 66-unit Hillcrest Residences, which was developed by The Community Builders is located in the Carrick neighborhood.
Glasshouse Breaks Ground in Pittsburgh
Station Square Apartments, located across the river from Pittsburgh’s central business district, is slated to feature 319 Class A units and ground-floor retail space.
Pittsburgh Reveals Its Strength
The region’s universities continue to provide a skilled workforce for the technology, robotics, education, health-care and financial sectors, pushing the city’s economy forward and sustaining multifamily demand.
Beacon Communities Buys NDC, $250M Portfolio
The residential development company now owns National Development Corp. and its 59 properties, most of which are affordable communities. The portfolio is valued at more than $250 million and expands Beacon’s portfolio to 14 states.
Eds and Meds Spur Growth in Pittsburgh
Once a predominantly blue-collar city, the area today relies on a diversified innovation economy and a highly educated workforce.