Cities
JV to Bring $44M Workforce Housing to Boston Area
Work on the 140-unit The Watson on Howard is scheduled to begin by June, with occupancy expected by July 2018. This community will feature the largest number of workforce units ever financed under MassHousing’s Workforce Housing Initiative.
Bellwether Closes $62M in Financing
The properties include a 116-unit community in New York, a 192-unit community in Texas and an industrial property in Ohio.
US Residential Welcomes New EVP
Laurie Lyons, a 30-year veteran of the apartment industry, will be responsible for growing the company’s third-party management portfolio. She will be based in Denver.
RKW Residential Expands NC Footprint
The property management company has taken over management of Wesley Village, a 301-unit community near uptown Charlotte, N.C. Bluerock Real Estate owns the property.
CBRE Names New VP
Former Capital One Senior Vice President Haig Kilicyan joins the company’s Capital Markets Debt & Structured Finance team in New York.
LINC Opens LA-Area Affordable Community
Mosaic Gardens at Willowbrook is a $20 million development built for low-income families and homeless households, with support from several public and private entities. The latest homeless count shows there are nearly 47,000 homeless in Los Angeles County.
Cornerstone Senior Living Expands in TX
The company acquired Three Forks of Forney, a 60-unit, 72-bed assisted living and memory care community in Forney, for $12.5 million.
CAPREIT to Manage 3 Miami-Area Affordable Communities
All three were purchased for $59 million in March 2017 by the American Opportunity Foundation, which plans to invest in extensive upgrades.
Walker & Dunlop Provides $95M for North Miami Acquisition
Avesta Communities procured the 402-unit property Avesta Biscayne, which features six five-story residential buildings along with a clubhouse and leasing office.
Dougherty Secures New Loan for Northridge Court Apartments
The company closed a 7.25-year Fannie Mae supplemental loan for the 12-building, 86-unit property.