Affordable Housing
Royal Capital Group Breaks Ground on Affordable WI Community
The $20.3 million development will feature 94 units. UnitedHealthcare is the largest private investor, providing $5.4 million in equity funding.
CDP Opens Affordable Phoenix Suburb Community
El Rancho del Sol features 47 units and complements the adjacent El Rancho del Arte, a 66-unit property in Mesa, Ariz.
Greysteel to Sell VA Affordable Housing Portfolio
The company was tapped to market Lexington Commons in Newport News, Va., and Parkwood Manor in Norfolk, Va., totaling 232 units.
Greysteel Closes Fully Affordable Baltimore Sale
The 150-unit Portside Apartments is located within a 20-minute drive of downtown and is subject to Section 42 provisions. The property last changed hands in 2005.
Gershman Closes Bridge Loan for Baton Rouge Property
Michael Thomas, vice president at Gershman Mortgage Denver, arranged financing for Pelican Bay Apartments in Louisiana, which features 152 affordable units.
Twin Cities Affordable Housing Portfolio Sells for $77M
Investors Aeon, the NOAH Impact Fund and Enterprise Community Investment purchased the 10 properties. The apartments will continue to welcome low-income renters.
Affordable NC Property Lands Fannie Mae Financing
Working on behalf of IPI Properties 11, a partnership between Berkeley Point Capital and Dougherty arranged a $1.2 million acquisition loan for Barden Ridge Apartments, a 48-unit community in Roxboro.
Jonathan Rose on What’s Ahead for Multifamily
The executive reflects on the past year in multifamily, including the disruptors set to impact the industry in 2018.
San Jose Community Sells for $36M
Marcus & Millichap represented the seller in the transaction and procured the buyer. The 109-unit asset features 12,000-square-foot commercial space, as well.
JV to Build 274 Affordable Units in Brooklyn
HPD and HDC designated the joint venture between MHANY Management, Urban Builders Collaborative and Cypress Hills Local Development Corp. to develop Chestnut Commons, which will be East New York’s largest affordable community.