Finance & Investment
Steele Properties Buys Columbus Affordable Community
The firm has expanded its portfolio with the acquisition of a 112-unit property. The asset will receive more than $44,000 per unit in hard cost rehabilitation.
Tampa Bay-Area Community Sells for $13M
Milbrook Properties has sold the 111-unit multifamily property located 3 miles east of downtown Largo, Fla. Franklin Street brokered the transaction and secured the acquisition financing.
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.
Madison Marquette, GFH Financial Group Buy 6-Building Senior Housing Portfolio
The joint venture purchased properties located in California, Washington and Michigan totaling 509 units.
Michigan Awards LIHTC for 536 Affordable Units
The state selected five projects in Detroit for the federal tax credits, which will support the construction of 235 new units and preserve the affordability of 318 existing units.
Monument Capital Management Expands Chicago-Area Portfolio
The company purchased Townhomes at Highcrest in Woodbridge as part of Monument Opportunity Fund IV and is planning capital improvements for all the buildings.
Olympus Property Expands in Salt Lake City
The company acquired a Class A, garden-style property in the Salt Lake City suburb of South Jordan, from Woodbury Corp. Built in 2012, the asset consists of townhomes with attached garages.
NYC Moves Forward on $260M Harlem Project
Empire State Development approved a modified plan along with $4.5 million in grants for the redevelopment project, which will include more than 170 affordable and supportive housing units.
Location Ventures Secures Loan for Florida Student Housing
Orduna Court in Coral Gables underwent a $2.1 million renovation plan to convert the condominiums into student housing units.
Monarch Expands in New Mexico
Marcus & Millichap represented the seller and procured the buyer for the 176-unit Avalon at Carlsbad. Berkadia provided a $24.5 million Fannie Mae acquisition loan.