Business Specialties
Aries Capital Affiliate Awarded $35M in New Markets Tax Credits
Chicago–Urban Development Fund L.L.C. has received an allocation totaling $35 million under the NMTC program for redevelopment of low-income areas in the United States.
New Affordable Seniors Apartments Underway in Suburban L.A.
West Covina, Calif.–Work has begun on 65 new residences at West Covina Senior Villas II, an affordable senior housing project east of Los Angeles.
Affordable Housing Project Springs Up in Affluent L.A. Suburb
Neighbors were not initially receptive to Mirandela, a 34-residence affordable seniors housing apartment property, but the finished product has brought nothing but accolades.
Dolben Hires Two Property Managers
Woburn, Mass.–The Dolben Company, Inc. has hired two regional property managers, Tim Bostrom and Derek Olszanowski.
Waterton Goes Hunting for More Multifamily
Chicago–Waterton Residential has closed on a $500 million multifamily investment fund that will specialize in seeking value-add multifamily opportunities through repositioning and recapitalization properties.
TODAY’S DEALS: HFF Arranges $22.35M in Financing for North Texas Multifamily Community
HFF arranges $22.35 million in financing for La Valencia at Startwood; Federal Capital Partners buys two Maryland communities; and Beech Street funds $31.4 million Fannie Mae loan originated by Meridian Capital.
Mediterranea Porcelain Tiles Replicate Petrified Wood
Mediterranea recreates ancient ‘wood’ with advanced printing techniques in their new Mountain Timber series of porcelain tiles.
Dune and TDI Form $1B Multifamily JV
Dune Real Estate Partners and TDI Real Estate Holding have formed a joint venture to acquire and develop multifamily assets throughout the United States.
2,580-Unit Multifamily Portfolio Trades for $460M
In a joint venture, Pantzer Properties and Dune Real Estate Partners have acquired the eight-community Magazine Portfolio in metropolitan Washington, D.C. for $460 million.
Lenders Step Back into the Multifamily Sector
All of a sudden, it feels almost like 2006 redux: The financing market is seeing a lot of money and too few deals.