Business Specialties
CA Senior Living Breaks Ground in AZ
The $25 million Quail Park in Oro Valley includes 101 units, with a portion dedicated to assisted living, and the $32 million Quail Park at Morrison Ranch includes 83 assisted living units and 32 memory care suites.
Multifamily Lending Heads into Extra Innings
Multifamily assets are often subject to stricter lending standards than they were a few years ago, but the right sponsors and projects can still secure funding. In this Viewpoint piece, a Webster Bank executive weighs in on the changing capital markets landscape.
Affordable Housing to Rise on Former NY Slaughterhouse Site
NYCEDC and HPD released plans to transform a 24,687-square-foot historic site in the far west side of Manhattan, once home of New York Butchers’ Dressed Meat Co., into a mixed-use project that will include 234 affordable units, a grocery store, dormitory space, and more.
Ventless Fireplaces Can Be Installed Anywhere
HearthCabinet fireplaces run off alcohol gel fuel, which is cleaner than wood smoke and doesn’t require electricity, gas or venting.
Highly Anticipated San Fran Condos Catch the Eye
The 67-unit community at 1450 Franklin St. was designed by BDE Architects and Sternberg Benjamin Architects.
Brooklyn Development Site Sells for $2M
EPIC Commercial Realty represented both parties in the sale of 2203 Clarendon Road, a 0.14-acre vacant residential lot in Brooklyn’s Flatbush neighborhood.
EdR Starts Work on Cornell Grad Student Housing
Maplewood Graduate and Professional Student Housing will feature 872 beds in 441 units, nearly tripling the number of residents accommodated by the recently razed Maplewood Apartments.
Warmington Properties Secures $190M for Portfolio Refi
Walker & Dunlop Inc. structured five Freddie Mac loans and one Fannie Mae loan, totaling $190.2 million, with 10-year terms and 30-year amortization schedules, to refinance nine California and Nevada communities held by Warmington Properties. Warmington began a value-added program across its portfolio in 2014, including the complete renovation of property amenities, building exteriors and unit interiors.
Greysteel Tapped Exclusive Advisor, Sale Agent for D.C. Community
The company’s Managing Director Kyle Tangney and Investment Associate Herbert Schwat will be responsible for marketing the 24-unit residential asset. According to public records, the property last traded for almost $1.4 million back in 2012.
Lantower Residential Acquires Austin Apartments
The 375-unit NXNE was completed in 2016. Located in the Tech Ridge district, the community is near several employers, including Dell, Apple, IBM and Samsung.