Affordable Housing
Abode Begins Work on SoCal Affordable Seniors Housing Projects
Los Angeles–Abode Communities broke ground recently on two new affordable seniors housing projects in greater Los Angeles, Terra Bella in Bell Gardens and Hudson Oaks in Pasadena.
TODAY’S DEALS: HFF Closes 280-Unit Mid-Rise in Virginia
HFF closes the sale of a 280-unit property near Washington, D.C.; Johnson Capital arranges $20.5 million refinance for Calif. affordable housing; and Bernard Financial arranges $3.45 million loan for mixed-use property.
Bridge Housing Breaks Ground on Sacramento Affordable Housing
Sacramento–Bridge Housing has broken ground on Foothill Farms Senior Apartments in Sacramento.
TODAY’S DEALS: Cushman & Wakefield Sells Boston Area Apartment for $7.8M
Cushman & Wakefield brokers sale of 32-unit apartment near Boston; Boston Capital invests in to-be-built Texas affordable seniors housing; and Walker & Dunlop advances $21 million Freddie Mac CME loan for a just-stabilized property.
TODAY’S DEALS: IPA Sells $27.6M Property in Connecticut
IPA sells a 192-unit Connecticut property for $27.6 million; Cushman & Wakefield brokers a $14 million trade in Westchester, N.Y.; and NorthMarq arranges $15 million in combined first-mortgage financing.
Affirmed Housing Group Breaks Ground on Affordable Apartments in L.A.
Los Angeles–Affirmed Housing Group makes its debut in Los Angeles with the ground breaking on the 60-unit green property, Lotus Garden Apartments.
TODAY’S DEALS: Raintree Partners Acquires 270-Unit Property in Burbank for $43M
Raintree Partners aquires a 270-unit Burbank property in Burbank, Calif.; Red Capital Markets provides $19M in tax credit equity; and Oak Grove Capital recently originated $20.7 million for two seniors housing communities.
East St. Louis Housing Authority Closes New Markets Tax Credit Deal
East St. Louis, Ill.–The East St. Louis Housing Authority has closed a complex and novel NMTC transaction that will fund the mixed-use Jazz @ Walter Circle project.
NAHMA Recognizes Multifamily ‘Communities of Quality’
Denver–NAHMA recognizes multifamily management companies that have at least 50 percent of their affordable housing portfolios accepted into the organization’s Communities of Quality recognition program.
TODAY’S DEALS: Security Properties Acquires 78-Unit Mixed-Use Apartment
Security Properties acquires a 78-unit apartment building for $15 million; Essex Property Trust issues $150 million of senior unsecured notes; and ARA brokers sale of Texas asset.