Business Specialties
NEI Begins Construction on Newest TOD in MA
The six-story development will be adjacent to the Beverly Depot commuter train station. The 112 Rantoul St. team includes women-owned businesses Barnat Development, ICON Architecture and McDermott Ventures.
Maplewood Senior Living Breaks Ground on $270M NYC Community
The 215-unit development featuring assisted living, enhanced care and memory care introduces the company’s Inspir brand, which was created to deliver a new option for older adults seeking senior residences.
Strategic Properties Buys Condos, Plans Deconversion
The company purchased the 207-unit Bel Harbour building in Chicago for $51.5 million, the largest bulk sale in the city to date.
Single-Family Rentals Enter a New Phase
The single-family rental market is on the rise, and lenders getting ready to jump in, according to a panel of investors and other sector experts at the NAREE Real Estate Journalism conference.
CBC Advisors Completes 2 West Coast Multifamily Sales
The Cove at Overlake in Tooele, Utah, and student housing community The Pines, in Rexburg, Idaho, changed hands in two off-market transactions totaling 204 apartment units.
PA, NJ Portfolio Commands $34M
TNJ Properties acquired Orchard Drive Associates’ 264-unit Orchard Drive Apartments in Whitehall, Pa., and Presidential Associates’ 268-unit Presidential Court Apartments in Runnemede, N.J.
Avanath Doubles Sacramento Footprint
In a $56.5 million deal, the company has acquired an affordable housing portfolio totaling 468 units in one of the nation’s hottest markets. The properties cater to seniors, families and mixed-income renters.
Pillar Secures Co-Op Loan for DC Community
The 273-unit mid-century asset received $14 million in refinancing via a fixed-rate Fannie Mae cooperative loan with a 30-year amortization schedule.
Ares, TruAmerica Buy Metro Phoenix Property for $31M
The joint venture plans a multi-million-dollar capital improvement program at Broadstone Gateway, a 240-unit community in Avondale, Ariz.
HUD, HCR, MDG Partner for $160M Bronx Preservation
Michelangelo Apartments, a 494-unit affordable building, is a 43-year-old Mitchell-Lama community that will be renovated and preserved as affordable for another 40 years as a result of the deal.