Finance: GSE Reform-What’s Next
Fannie Mae and Freddie Mac have done considerably better than expected since going into government conservatorship in 2008, even as the Federal Housing Finance Agency (FHFA) has attempted to restrict their activities.
NYSERDA Announces Funding Opportunity for Multifamily Heating Improvement Measures
The New York State Energy Research and Development Authority has announced that $1.2 million in funding has been set aside to assist multifamily buildings in implementing improvements to heating systems.
Passco Acquires Class A Community in Raleigh, NC
Passco Companies has announced the acquisition of Carrington at Brier Creek for $37.3 million. The purchase of the Class A, 270-unit luxury garden-style community was on target for the company’s ongoing strategy to acquire high-quality core assets in high growth areas outside of primary markets.
Wood Partners Community in Hopkinton, Mass., Nearly Complete
Wood Partners has announced that construction is nearly completed at its $45 million development, Alta Legacy Farms, in Hopkinton, Mass. The 240-unit luxury community, located in the master-planned Legacy Farms project, opened for lease in July 2013 and is 43 percent leased.
Rockstreet Partners JV Acquires Student Housing Community in Bryan, Texas
Rockstreet Partners has announced that it has acquired College Edge Apartments in Bryan, Texas, after entering into a joint venture with ApexOne Investment Partners to own and operate the asset.
Construction Begins on The Picerne Group’s 198-Unit Multifamily Development in Cerritos, Calif.
The Picerne Group has announced that it has broken ground on its latest development, Aria. The Class A 198-unit residential community will be located at the cross streets of Bloomfield Avenue and Artesia Boulevard across the street from the Cerritos Towne Center.
Gilbane Breaks Ground on New Student Housing in Ames, Iowa
Gilbane Development has announced that it has officially entered the Ames, Iowa student housing market with the ground breaking of 23 Twenty Lincoln, a 320-bed student community that will serve the student population of Iowa State University’s campus in Ames.
Hunt Companies Selected to Develop Cadet Residence Hall at Texas A&M
Texas A&M University at Galveston has tapped Hunt Companies to develop a 612-bed, on-campus cadet residence hall.
Construction Rolling Along on The Charles Luxury Condos in Manhattan’s Upper East Side
The leadership team and crew working on the Upper East Side luxury development, The Charles, held a party to celebrate the building’s recent topping out. The 32-story condo building is being developed by Bluerock Real Estate LLC in collaboration with Ismael Leyva of ILA Architects and David Collins Studio interior designs.
Multi Housing Advisors Brokers Sales of Atlanta Communities
Multi Housing Advisors has brokered a trio of individual community sales in the Atlanta metro area for $39.85 million that covers more than 700 units.