Affordable Housing
CIM Group Breaks Ground on Final Phase of LA Mixed-Use
Upon completion, the project will offer a total of 338 units—32 of which will be designated as affordable—and 58,300 square feet of retail space.
Suburban San Francisco Community Refinances
Ravello Holdings completed work on the 128-unit luxury property in June. The new, $42 million financing package retires a nearly $30 million construction loan.
Ability Housing Begins Work on 80-Unit Affordable FL Property
Dubbed Village at Hyde Park, the $18.7 million project in Jacksonville’s Westside submarket is slated for delivery late next year.
North FL Affordable Housing Portfolio Changes Hands for $51M
The portfolio includes four communities totaling 768 units across three of Jacksonville’s submarkets. The new owner, Millenia Housing Management, plans to invest $40 million in capital improvements.
Rent Control: Back in the Spotlight
With California’s Prop 10 on the ballot this November, industry leaders worry that restrictive new measures could spring up around the country. Meanwhile, cautious investors are realigning portfolios and rethinking strategies.
Affordable Miami Lakes Property Lands $24M Refi
Greystone provided the HUD-insured loan for Country Club Villas II. The Federal Housing Administration financing replaces a previous $22 million Fannie Mae mortgage.
Freddie Mac Closes LIHTC Fund with Hudson Housing Capital
The fund’s first investment comes in the form of a $17.5 million LIHTC equity for Lord Road Apartments, which will provide 324 low-income units in San Antonio.
JV Acquires NYC Portfolio for $60 Million
Greystone provided $45 million in bridge financing for the three buildings located in Washington Heights, Morningside Heights and West Harlem.
Affordable Senior Community Breaks Ground in NJ
The new rental community will feature 54 one-bedroom apartments for seniors aged 62 and older, with five units set aside for formerly homeless senior residents.
SC Affordable Housing Portfolio Gets $77M Upgrade
Greystone Affordable Development, Boyd Management Inc. and portfolio owner WWJ, LLC worked together with public and private partners to secure the tax-exempt bond transaction for the complete rehabilitation of 18 multifamily properties across the state.