Multifamily news in Deals - Philadelphia
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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.
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NHI Venture Buys Senior Housing Portfolio for $128M
The REIT has teamed up with affiliates of its existing tenant, Discovery Senior Living, to acquire six communities across three states, totaling nearly 600 units of independent and assisted living and memory care facilities.
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Counter Capital Expands Philadelphia Portfolio
A joint venture of Dalzell Capital Management and Morning Calm Management, the partnership purchased 1501 Locust St. in Center City's booming Rittenhouse Square neighborhood.