Affordable Housing
MassHousing Provides $14M Renovation Loan for Boston Community
Boston Housing Authority selected Beacon Communities to oversee the rehabilitation and preservation of Camden Apartments, a 72-unit affordable property.
InvestRes Buys 148-Unit Sarasota Community
The new owner revealed plans for a capital improvement program, which will include new signage, refurbished amenities and enhanced apartment interiors.
Fannie Mae Boosts Small Loan Limit for Multifamily Market
By upping small loan limits nationwide, the GSE aims to expand market liquidity and the nation’s affordable housing supply.
NorCal Apartments Change Hands
Burbank Housing Development purchased the 56-unit Class C community for $15 million. Two lenders facilitated the transaction with acquisition and development financing.
Fully Affordable Community Changes Hands in Brooklyn
The 107-unit asset is located at 1701 W. 3rd Street, in the borough’s Gravesend submarket. Morris Weintraub Associates sold the property to Parkoff Organization for $28 million.
NMHC’s 2019 Apartment Strategies Outlook Conference Coverage
From sessions ranging from an economic outlook and market expectations, to investor obstacles, the conference covered an array of subjects that outline the multifamily market’s future.
Top 10 Florida Multifamily Completions in 2018
Almost 33,000 units were added to Florida’s multifamily markets last year, 1,300 more than the year before, with major developments completed in each of the state’s key metro areas.
How to Reduce the Cost of Development
At NMHC’s 2019 Apartment Strategies Outlook Conference in San Diego, a group of panelists shared ideas on how to lower development costs through innovation and simplified amenities.
LA Community Sells for $26M
An institutional investment fund purchased Morton Gardens, a 66-unit community in the city’s Echo Park neighborhood.
Nautilus Buys Community in Chicago’s Hyde Park
Interra Realty facilitated the $6 million transaction. Joe Smazal worked on behalf of the seller, while Ted Stratman and Jeremy Morton represented the buyer.