Affordable Housing
Freddie Mac’s Top Multifamily Lenders of 2018
The mortgage giant names the lenders which transacted the most multifamily financing volume with the government-sponsored company last year.
Bertram Partners Lands $72M Refi for CA Properties
The Freddie Mac loan—which was arranged by HFF—will be used to refinance the debt on three communities in Orange County.
Avanath Strengthens East Coast Presence
The company is the new owner of two assets in Harlem, N.Y., and Temple Hills, Md. For a combined $36.3 million, Avanath purchased 202 affordable housing units.
Microsoft Commits $500M to Affordable Housing in Seattle
The software giant proposes a combination of loans and grants to help expand the Puget Sound region’s inventory of affordable housing.
Work Begins on $136M Manhattan Affordable Housing Project
Related Cos. and The Hudson Cos. are bringing the first newly constructed, permanently affordable housing project to Roosevelt Island, N.Y. The 21-story community is set to encompass 340 units.
Related Cos. Receives $50M Refi for Affordable MA Asset
MassHousing provided the funds for the renovation of Chestnut Park Apartments, a 489-unit community in downtown Springfield. Wells Fargo will act as the project’s commercial construction and permanent lender.
$100M Deal to Preserve Affordability in South Bronx
A joint venture led by NCV Capital partners secured debt and equity to fund and rehab a 13-building, 515-unit affordable housing portfolio.
Middleburg Launches $75M Workforce Housing Fund
The company’s strategy is to purchase and rehabilitate distressed communities in the Southeast and Mid-Atlantic regions, starting with the previously acquired Vesta Derby Oaks located in Louisville, Ky.
How the Government Shutdown Impacts Multifamily
With HUD and other agencies currently disabled, residents and private sponsors of government-assisted housing are feeling the fallout from the stalemate over border security.
Phoenix-Area Affordable Property Changes Hands
Atlantic Development & Investment sold the 184-unit asset in a 1031 exchange for nearly $23 million. The Canadian Imperial Bank of Commerce provided acquisition financing.