Finance & Investment
Red Stone Equity Partners Closes $207M LIHTC Fund
The vehicle marks the firm’s largest ever and will help create or rehabilitate more than 1,600 affordable units.
Philadelphia Student Housing Development Gets $23M
College Town Communities will use the loan to build the 264-bed expansion near Penn State Abington’s campus.
Greystar Acquires Majority Interest in Thackeray Partners
The acquisition will give the firm additional rental housing as well as access to investments in the growing industrial sector.
Estate Cos. Lands $76M Loan for Miami Project
The construction financing from Bank OZK will be used to build a 367-unit community in North Miami Beach.
Alex. Brown JV Pays $24M for Alabama Student Asset
The buyer financed the 192-unit acquisition with $19.5 million from Ares Commercial Real Estate.
Westport Properties Expands Central Florida Portfolio
The recently completed self storage facility west of Orlando sold for nearly $10 million.
Social Impact Investors Target Naturally Occurring Affordable Housing
Through “quick strike” funds, impact-minded sponsors are competing with value-add investors that purchase older properties with the goal of raising rents.
Quinlan Kicks Off 17-Story Mixed-Income Brooklyn Project
CIT Group provided a $35.7 million construction loan, with Hines contributing mezzanine financing.
Out-of-State Investor Pays $55M for Luxury Los Angeles Asset
Converted from a condominium community mid-pandemic, the property traded for roughly $900,000 per unit.
New Scottsdale Self Storage Asset Lands $22M Refi
The Phoenix-area property, which came online last fall, is in its lease-up phase.