Business Specialties
NJ Senior Community Lands $8M Refi
Magnolia Gardens Assisted Living was subject to a 35-year loan. Laura Saull-Smith arranged the financing for the 79-unit community located in Toms River, N.J.
IPA Arranges $39M Refi for Playa Del Rey Apartments
The borrower, a repeat client of IPA, received the loan structured with a full 10-year term, interest-only, at a rate of 3.8 percent.
Dougherty Closes Acquisition Loan in South Dallas
The company secured a $6.6 million Fannie Mae loan for the acquisition of a 113-unit multifamily asset in DeSoto, Texas. Dougherty’s Minneapolis and Vienna, Va., offices arranged the financing through a partnership with Old Capital Lending.
MRES Launches Student Housing Division
The company has received its first student housing management assignment: The Vault at Statesboro, a 132-unit community in Statesboro, Ga.
Peak Campus to Manage 504-Unit Student Housing Community
University Center Chicago was acquired by a joint venture between AXA Investment Managers – Real Assets and Blue Vista Capital Management back in July. The 18-story building is located in the heart of the city and will undergo an interior renovation.
Yesler Terrace—Soon to Be Seattle’s Densest Neighborhood
Yesler Terrace is a 30-acre development that Seattle Housing Authority (SHA) built in the 1940s as the city’s inaugural subsidized housing community. Stephanie Van Dyke, director of development at SHA, spoke with MHN about the site’s future as a mixed-use global neighborhood.
What Scares Your Residents?
When it comes to living in an apartment, ghosts don’t scare residents—but cockroaches, that’s another story. In honor of Halloween, MHN and Kingsley Associates explore what about your community makes your residents afraid.
FCP Snags $24M Tampa Community
Federal Capital Partners has acquired The Commons Apartments, a 200-unit, garden-style property. The company plans upgrades, including converting the leasing office to a gym and the addition of washer-dryers to individual apartments.
BPDA Approves Two Residential Projects in Boston
The two developments will bring 101 residential units to Dorchester and South Boston, including 13 affordable units, as well as ground-floor retail.
Fairfield Residential Secures $51M for MD Apartments
The seven-year, fixed-rate Fannie Mae loan for the 386-unit Rock Spring has three years of interest-only payments and five years of yield maintenance with a 1 percent prepayment penalty afterward.