Development
Special Report: From Concrete to Wetlands—NYC’s Blueway Plan
At a recent presentation in Manhattan called “The East River Blueway Plan,” speakers discussed plans to build a waterfront land area from the Brooklyn Bridge up to 38th Street. This land will act not only as a barrier to protect buildings from future storms and hurricanes, but also as a way to connect communities and encourage waterfront activities such as kayaking and fishing.
TODAY’S DEALS: The Morgan Group Breaks Ground in Fort Lauderdale
The Morgan Group begins a 331-unit asset; Beech Street Capital closes $17 million for a student housing portfolio in Alabama; and HFF closes on the sale of a 207-unit Upper West Side multi-housing property.
MHN Interview: New Issues Affecting Affordable and Market-Rate Development
MHN talks with Orlando Carera, counsel, and Greg Young, a new partner, both in the Real Estate Practice Group of Squire Sanders, about development and investment trends, and their thoughts on how the sequester will affect the multifamily industry.
2013 NMHC 50 Names Nation’s Largest Apartment Owners, Managers
Boston Capital (155,521 units owned) and Greystar Real Estate Partners LLC (198,533 units managed) remained the nation’s largest apartment owner and manager, respectively, for the third consecutive year, according to the National Multi Housing Council’s new 2013 NMHC 50.
TODAY’S DEALS: EdR to Build $46.1M Asset at Duke University
EdR announces plans for development at Duke; UC Funding closes a $12.1 million bridge loan for the acquisition and renovation of a Charlotte asset; and NorthMarq Capital arranges $10.1 million in Freddie Mac acquisition financing.
MHN Interview: Multifamily Trends in the Carolinas
Multi Housing Advisors recently expanded its offices to Charlotte, N.C. MHN talks to Marc Robinson, co-founder, Multi Housing Advisors, about his thoughts on the multifamily market in the Carolinas and some national development trends for the industry.
TODAY’S DEALS: IPA Brokers $64.3M Sale for JB Matteson
IPA brokers a 358-unit sale for JB Matteson; Canyon Capital funds a $15 million mezzanine loan for the construction of a mixed-use asset in Dallas; and TRG buys an apartment community near LA Live.
Long Beach Senior Affordable Community Finally Holds Groundbreaking
By Alex Girda, Associate Editor A major step was taken to ensure that an important residential development in Long Beach will have new life following a number of funding delays due to redevelopment legislation. However, the Ramona Park senior affordable housing development has managed to pull through and recently held a groundbreaking ceremony, confirming the […]
TODAY’S DEALS: AvalonBay Sells Two D.C. Area Assets for $332M
AvalonBay sells 1,392 units; Decron breaks ground in Los Angeles; and NorthMarq Capital arranges $20.62 million in FHA financing.