Affordable Housing
NHPF Lands $45M Affordable DC Asset
Woodmont Crossing Apartments marks the nonprofit’s fifth purchase under Washington, D.C.’s Tenant Opportunity to Purchase Act. The new owner plans a $7.4 million upgrade of the 176-unit community.
Marcus & Millichap Facilitates Sale of 120-Unit FL Asset
Arbor Crest traded for $5.1 million. The firm’s Regional Manager Ari Ravi and Investment Specialists Francesco Carriera and Michael Regan marketed the property on behalf of the seller, Carlisle Development Group.
Hunt Mortgage Group Adds New Director
Kevin Deegan will coordinate the company’s affordable housing/FHA team, but he will also serve clients using Hunt Mortgage Group’s balance sheet products and agency executions.
Dougherty Closes Fannie Mae Loan for Twin Cities-Area Community
The mortgage banking firm facilitated a $7.3 million loan to refinance Green Twig Villas, a 62-unit affordable housing property in Oak Park Heights, Minn.
Fannie Mae Expands Green Lending, Housing Innovation Platforms
Jeffery Hayward, executive vice president & head of Fannie Mae’s multifamily mortgage business, sat down with MHN at MBA’s CREF/Multifamily Housing Convention & Expo in San Diego to provide an industry-wide outlook and discuss the GSE’s new initiatives for 2018.
Fairfield Obtains $66M for WA Luxury Development
The downtown Redmond community will comprise 360 high-end units, 36 of which will be income-restricted. Amenities include a fitness area, a Wi-Fi lounge with co-working space and a bicycle storage area.
Hunt Mortgage Arranges $5M for Philadelphia Asset
The firm arranged for a seven-year fixed rate loan on behalf of MM Equity Partners Philly for the acquisition of the 30-unit Reach Lofts.
Elmington Lands $24M Construction Loan
The two-year HUD loan will finance the development of Twelfth & Wedgewood, a 153-unit affordable housing project in Nashville.
WNC Earmarks $94M for CA Affordable Portfolio
A recently closed LIHTC fund is providing capital to acquire and renovate 972 units in Los Angeles, Sacramento and other California cities.
Impact Seven, Rule Enterprises Start Milwaukee Affordable Community
The new $12.2 million development will consist of 60 units open to military veterans and working families. On-site support services will also be provided.