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Abrams Development Acquires Boston Affordable Housing Property

Abrams Development Acquires Boston Affordable Housing Property

The Abrams Development Co. has inked a deal to acquire the 71-unit Lionhead Apartments in Dorchester district of Boston. …

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Multifamily Sales Up in New York in Q2

Multifamily Sales Up in New York in Q2

The number of New York City multifamily building sales increased 18 percent in the second quarter of 2014 compared to the same quarter in 2013, but the dollar volume of those trades rose a modest 1 percent, according to the most recent Ariel Property Advisors quarterly report on the city’s…

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Madison Realty Capital Acquires Manhattan Mixed-Use Property For $40.2M

Madison Realty Capital Acquires Manhattan Mixed-Use Property For $40.2M

Madison Realty Capital has acquired 361 East 50th St., a six-story mixed-use elevator building located in the Midtown East section of Manhattan, for $40.2 million.…

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South Jersey Apartment Community Sells for $26M

South Jersey Apartment Community Sells for $26M

The 484-unit Chalet Gardens in the Philadelphia suburb of Pine Hill, N.J., has traded hands for $26 million. …

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Centerline Capital Group Officially Renamed Hunt Mortgage Group

Centerline Capital Group Officially Renamed Hunt Mortgage Group

Centerline Capital Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, announced that it has been renamed Hunt Mortgage Group, completing the firm’s transition to Hunt Companies Inc.…

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Pennrose Properties Opens Heritage at Alexander Hamilton in N.J.

Pennrose Properties Opens Heritage at Alexander Hamilton in N.J.

A ribbon-cutting ceremony has officially unveiled Phase III of the long-awaited Heritage at Alexander Hamilton in Paterson, N.J. The new affordable housing lifestyle community was developed by Pennrose Properties, in partnership with the Housing Authority of the City of Paterson. …

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TODAY’S DEALS: Kislak Completes $136M Multifamily Property Sale–Largest in New Jersey Since ‘11

TODAY’S DEALS: Kislak Completes $136M Multifamily Property Sale–Largest in New Jersey Since ‘11

The Kislak Co. Inc. announced the $136 million sale of Rachel Gardens, a 764-unit apartment community on more than 98 acres in the Pine Brook section of Montville, N.J.; and NorthMarq Capital supplies a $10.6 million refinance for a Chicago redevelopment. …

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Michaels Organization Educational Foundation Awards $500K

Michaels Organization Educational Foundation Awards $500K

The Michaels Organization Educational Foundation has announced its scholarship distributions for 2014. The foundation gives college scholarships each year to aspiring students who live in the properties owned or managed by the companies.…

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Montroy Andersen DeMarco Hires David J. Stuart, AIA as Studio Director

Montroy Andersen DeMarco Hires David J. Stuart, AIA as Studio Director

David J. Stuart, AIA has joined the prominent New York City architecture, design, and planning firm of Montroy Andersen DeMarco (MADGI) as studio director. …

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TODAY’S DEALS: HFF Arranges $95M Construction Loan for Hi-Rise in Reston, Va.

TODAY’S DEALS: HFF Arranges $95M Construction Loan for Hi-Rise in Reston, Va.

HFF arranged a bank construction loan of $95 million for the development of BLVD at Reston Station; and Red Mortgage funds a $31M FHA supplemental loan for a new construction. …

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National Development Begins Construction on 83-Unit Boston Luxury Development

National Development Begins Construction on 83-Unit Boston Luxury Development

National Development has started construction on SEPIA at Ink Block, an 83-unit luxury condominium that is part of a planned six-building, mixed-use development in Boston’s South End.…

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Greystone Launches Seniors Housing Investment Sales and Advisory Group

Greystone Launches Seniors Housing Investment Sales and Advisory Group

Greystone, a national provider of multifamily and healthcare mortgage loans, announced it has launched a seniors housing real estate sales and investment advisory group through the acquisition of the ARA National Seniors Housing Group from ARA National Seniors Housing Group Ltd. …

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