Multifamily news in Deals - Philadelphia
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Dougherty Mortgage Refinances Philadelphia-Area Affordable Asset
The mortgage banking firm provided the 10-year financing in collaboration with LSG Lending Advisors.
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Philadelphia-Area Community Lands $77M Refi
Greystone originated the Fannie Mae loan on behalf of the borrower, Lindy Property Management.
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Greystone Arranges $63M for Pennsylvania Portfolio
The properties include five skilled nursing facilities totaling 622 beds across four municipalities.
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Radnor Property Group Lands $142M for Philadelphia Community
JLL Capital Markets arranged financing for Phase II of The Hamilton, a 16-story high-rise property in Center City.
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Greystone, Rittenhouse Join Forces
The two firms have entered into a joint venture called Greystone Rittenhouse Realty Advisors, will will primarily focus on the Northeast market.
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Philadelphia Luxury Apartments Trade for $22M
The Class A multifamily property delivered in 2015, replacing several 19th-century industrial buildings in the Old City.
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Wilmington Community Changes Hands in $7M Deal
River Commons Apartments received financing from Fannie Mae, while the Delaware State Housing Authority provided an additional subordinate debt loan.
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CAPREIT Acquires Delaware Community
Greysteel’s Ari Firoozabadi and Henry Mathies acted on behalf of the seller and procured the buyer for Vinings at Christiana.
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Philadelphia-Area Value-Add Properties Change Hands
Rittenhouse Realty Advisors sold Maple Grove Apartments and Royersford Gardens, two apartment communities located in Montgomery and Bucks Counties.
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Halfpenny Management Picks Up Lehigh Valley Community
Birchwood Commons, a 96-unit residential property in Bethlehem, Pa., was completed last year. A Berkadia team orchestrated the sale and arranged the acquisition financing.
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Pennsylvania Student Housing Portfolio Changes Hands
Rittenhouse Realty Advisors arranged the sale of the 44 properties for $21.3 million to a purchaser new to the student housing market.
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Philadelphia-Area Property Lands New Owner
HFF arranged the sale of Riverwalk at Millennium in Conshohocken, Pa., to Relative Properties and secured Freddie Mac financing for the buyer.
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2-State Portfolio Lands $125M Loan
Greystone originated the Fannie Mae financing for the 1,383-unit portfolio across Pennsylvania and Kentucky. As part of the recapitalization effort, Bayshore Properties has taken a 50 percent stake in the assets.
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Philly’s Tallest Residential Tower Lands $295M Loan
Southern Land Co. is building the 48-story project, which will offer a combination of luxury rental units and condominiums, along Rittenhouse Square.
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FCP Buys Philly High-Rise for $118M
The 286-unit community is FCP’s fourth acquisition of a Class A property in Philadelphia’s Center City. Also included is a potential development site.