Cities
Philadelphia Mid-Rise Receives Freddie Mac Refi
Hunt Real Estate Capital has secured a $5.9 million loan for the recently completed Terrace Lofts, a 32-unit community located the city’s Manayunk neighborhood.
Suburban Atlanta Property Receives $20M Financing
Pembrook Capital Management closed on the loan package, which will help preserve the affordability of all 294 units at Shannon Lake Apartments.
Southern Portfolio Secures $11M Financing
The communities, totaling 280 units in Oklahoma, Tennessee and Georgia, received Freddie Mac and Fannie Mae funding through Arbor Realty Trust.
Rincon Partners Sells Phoenix Community for $34M
LoanCore Capital provided the buyer with nearly $30 million in acquisition financing. The new owner rebranded the asset and chose a new property manager.
Jonathan Rose Cos. Sells Affordable NJ Asset
SVN Affordable assisted the company in the $47.5 million sale of St. Mary’s Villa, an age-restricted property encompassing 360 one-bedroom units.
Transwestern Sells Austin Community
Completed in 2016, the 346-unit property is at the epicenter of new development activity in the city’s popular East Sixth district.
TWG Development Purchases Atlanta Apartments for $29M
Merchants Bank of Indiana provided the buyer with nearly $30 million in acquisition and development financing. The short-term bridge loan matures in June.
Evergreen Real Estate Grows Affordable Housing Management Portfolio
The Chicago-based firm added nine communities totaling more than 1,000 affordable housing units located in Illinois, Kansas, Ohio and Wisconsin.
MA Passes Law to Tax, Regulate Short-Term Rentals
The new legislation is aimed at operators like Airbnb, which filed a lawsuit against the city of Boston over its regulations in November.
Terwilliger Pappas Sells Atlanta Asset for $75M
The 303-unit luxury community welcomed its first residents in 2018. The developer financed construction of the property with more than $40 million from Synovus Bank.