Deals
$100M Deal to Preserve Affordability in South Bronx
A joint venture led by NCV Capital partners secured debt and equity to fund and rehab a 13-building, 515-unit affordable housing portfolio.
Middleburg Launches $75M Workforce Housing Fund
The company’s strategy is to purchase and rehabilitate distressed communities in the Southeast and Mid-Atlantic regions, starting with the previously acquired Vesta Derby Oaks located in Louisville, Ky.
Inland Empire Community Sells for $42M
Berkadia has arranged the sale of the 194-unit property located in Ontario, Calif., approximately 26 miles from downtown San Bernardino.
Fogelman JV Acquires Atlanta Apartments for $45M
The 334-unit garden-style community last changed hands in August 2016, when Mesa Capital Partners sold the asset for more than $29 million.
Luxury Silicon Valley Community Trades for $110M
Institutional Property Advisors brokered the sale of the 238-unit upscale asset located in San Jose on behalf of the seller, Cityview.
JV Secures $70M Loan for NJ Asset
The proceeds of the 10-year loan, arranged by HFF, were used to retire existing construction financing for Steel Works, a 2017-built property in Harrison.
Fairfield Residential Trades NorCal Apartments
The company sold the 168-unit Class B community for more than $47 million three years after acquiring the asset from Interstate Equities Corp.
PRG Group Buys Luxury Charlotte Community for $49M
The Miller-Valentine Group finished work on the 280-unit property in late 2017, following a year and a half of construction.
Newly Built Jacksonville Community Trades for $54M
Hunt Real Estate Capital provided the buyer, EBSCO Income Properties, with more than $36 million in Fannie Mae acquisition financing.
Phoenix-Area Affordable Property Changes Hands
Atlantic Development & Investment sold the 184-unit asset in a 1031 exchange for nearly $23 million. The Canadian Imperial Bank of Commerce provided acquisition financing.