Affordable Housing
TODAY'S DEALS: Related, Shoma Buy 48 Acres for Mixed-Use Development
The Related Group and Shoma Group buy land for a mixed-use development; Boston Capital closes an affordable seniors housing construction loan; and George Smith Partners clinches a $1.5 million acquisition financing at 90 percent LTC.
TODAY'S DEALS: Dornin Acquires Seniors Housing Community in California
Dornin Investment Group purchases a 122-unit seniors community located in San Marcos, Calif.; AIG Global Investment Group sells a three-property portfolio in New Jersey; and Marcus & Millichap closes the $1.5 million sale of a 16-unit property.
WNC Closes on $100M LIHTC Fund
WNC & Associates, an investor in urban renewal and affordable housing projects, has closed WNC Institutional Tax Credit Fund 35.
Walters Group to Begin Construction on Whispering Hills
The Walters Group is set to begin construction this month on Whispering Hills, a 107-unit townhouse that will also offer an additional 52 units of affordable housing up for rent.
TODAY'S DEALS: Berkadia Arranges $28M for L.A. Properties
Berkadia lands $28 million for two properties in Los Angeles; The NHP Foundation buys its first affordable housing property in New York City; and Northmarq arranges a financing of $13.1 million for an Aukum Management purchase.
Claremont's Courier Place a Multi-generational Trailblazer
With its recent grand opening, the 74-unit Courier Place Apartment Homes became the first-ever multi-generational affordable housing to be developed by Jamboree Housing Corporation.
Nonprofit Acquires Third LA Property to House Homeless Veterans
Serene Haven Inc., a nonprofit that acquires and renovates residential properties to provide housing to homeless military veterans and their families, has acquired a property located on West 54th Street in Los Angeles.
Second Phase of Affordable Housing Project Under Way in Riverside County
Affirmed Housing Group has broken ground for the Monte Vista Apartments in downtown Murrieta, a city in southwestern Riverside County, Calif. Monte Vista II will add 40 affordable units to the existing 64-unit Monte Vista Apartments.
Lorena Heights Affordable Apartments Open in LA's Boyle Heights
The East Los Angeles enclave of Boyle Heights welcomed a new affordable housing development with the grand opening of Lorena Heights Apartments.
New Bill Addresses California Affordable Housing Crisis
With government funding reaching new nadirs and the housing market yet to sort itself out, both renters and would-be homeowners face hurdles finding affordable housing. The problem is likely even worse in California than it is nationally.