Affordable Housing
TODAY’S DEALS: M West Adds 248 Units to LA Portfolio
M West Holdings acquires an apartment in Torrance, Calif.; Besen & Associates brokers the sale of a Section 8 community in the Bronx; and a three-property Santa Monica apartment portfolio trades for $28.5 million.
Transaction Kicks Off TCC, Hanover Co. Redevelopment in Austin
The sale and transfer of the Green Water Treatment Plant parcel in Austin has officially kicked off the redevelopment of the site by a partnership involving Trammell Crow Company, The Hanover Company and Pacific Life Insurance Company.
MHN Interview: Anand Kannan, President, Community Preservation Partners
Low income tax credit specialists WNC & Associates may have more than 40 years of experience in affordable housing, but the firm isn’t afraid to put youth in the driver’s seat of its rapidly expanding subsidiary, Community Preservation Partners.
TODAY’S DEALS: Baltimore M-U Asset Lands $120M for Redevelopment
HFF secures $120 million for Hekemian’s mixed-used redevelopment in Baltimore; Berkeley Point Capital executes a $9.8 million refinancing in San Antonio; and BMC Capital provides a $1.3 million loan for a property in Austin.
The Aspen Cos. Purchases Three Affordable Assets in Georgia
New Jersey-based The Aspen Cos. has picked up a trio of affordable housing communities for slightly more than $9 million. The move adds more than 300 units to its expanding portfolio in the Southeast.
Vitus Group Acquires New Jersey Affordable Housing Asset
Vitus Group has launched a value-add play with the acquisition of Penny Point Apartments, a 152-unit affordable housing community located in Egg Harbor, N.J.
Freddie Mac Singles Out Top 2013 Multifamily Lenders
After a year that saw Freddie Mac settle nearly $26 billion in new multifamily volume, its second largest figure ever following a banner 2012, the GSE announces its top lenders for 2013.
ULI and Enterprise Release Comprehensive Affordable Housing Solutions Report
The supply gap between affordable rental units and extremely low-income renters continues to widen. ULI and Enterprise Community Partners address the issues surrounding the availability of affordable housing in their new report: Bending the Cost Curve.
Enterprise Finishes 2013 by Closing 11 Affordable Housing Syndication Deals
Affordable housing finance and investment organization Enterprise Community Investments Inc. wrapped up 2013 with 11 new LIHTC-financed developments and rehabs.
Oak Grove Capital Posts Record-Breaking Year
Oak Grove Capital provided $1.7 billion of affordable, market rate and seniors housing financing in 2013, a 16 percent increase over 2012 loan production.