Affordable Housing
Affordable NJ Community Changes Hands
The new owner acquired Berkeley Terrace for a price tag of $12.2 million and plans to invest in extensive renovations. The project is slated for completion by August 2018.
Omni Breaks Ground on $68M Affordable Bronx Community
The 15-story Morris II Apartments will comprise 154 units with a 4,000-square-foot ground-floor community space, and 30 percent of the units will be permanently affordable.
Avanath Acquires Affordable Asset in Denver
Represented by ARA Newmark, the company purchased the affordable community for $13.6 million and plans to implement light capital improvements and improve operational efficiencies to drive value.
West Side Chicago Welcomes New Affordable Housing
Harvest Homes will offer 36 two-, three- and four-bedroom units located at one contiguous site in East Garfield, Chicago. The total development cost was $12 million.
Affirmed Unveils San Diego Affordable Housing
The 62-unit community designed by Carrier Johnson + Culture is an eco-friendly project that will serve homeless individuals with special needs.
Greystone Enters Michigan Market with New JV
The new joint venture with Commercial Property Advisors will focus on providing multifamily advisory services for clients in Michigan. Cary Belovicz will lead the new organization as an executive managing director.
Security Properties Acquires 2 Portland Assets
Security Properties acquired two properties totaling 228 units located near downtown Portland. The company plans to implement a renovation plan for The Commons in order to preserve the long-term affordability of the building.
Marcus & Millichap Facilitates $30M Sale of Affordable FL Asset
Evan Kristol and Felipe Echarte, first vice presidents of investment, represented the seller, a New York-based investment group, and procured the buyer for Cabana Club Apartments, a 332-unit community for seniors in Miami-Dade County.
Carrfour Secures Grant to House Homeless Vets
The not-for-profit affordable housing developer received the financing from The Home Depot Foundation’s Veteran Housing Grants Program to fund Liberty Village in Miami’s Liberty City neighborhood.
Walker & Dunlop Originates $34M Loan for CA Affordable Asset
The loan will be used to finance Campus Oaks Phase I, an affordable community in suburban Sacramento. Walker & Dunlop worked on behalf of The Canel Cos.