Finance & Investment
New Jersey Project Scores $45M Construction Loan
Kushner Real Estate Group broke ground on the 200-unit luxury multifamily community in Bayonne last summer and expects to finish in the spring of 2020.
DC Development Gets $192M in Financing
A joint venture of MRP Realty and FRP Development Corp. is building Bryant Street, a 1,500-unit, mixed-use property in the northeast area of the city.
What You Should Know About Construction Lending
Jonathan Lee, a principal & managing director at George Smith Partners, sheds light on the opportunities and challenges of financing ground-up multifamily projects.
CBRE Arranges Acquisition Loan for Austin Student Housing
The 135-unit student housing community features a mix of studios to four-bedroom units. The property serves students attending the University of Texas.
NJ Affordable Housing Portfolio Lands $60M Loan
RED Mortgage Capital has secured the financing for the acquisition of 18 multifamily properties in Union City through Freddie Mac’s Optigo Small Balance Loan program.
Atlanta Multifamily Portfolio Trades for $105M
In separate deals, McDowell Properties and Vukota Capital Management each purchased portions of the three-property portfolio in Newnan, Ga., from RADCO Residential.
Vitus Acquires 2 GA Affordable Housing Assets
The developer will invest a combined $12.5 million to renovate the properties, one of which was damaged by Hurricane Matthew in 2016, and keep them available to low-income residents.
Camden Realty Trust Buys Austin Asset for $120M
The Millennium Rainey is a 326-unit, LEED Gold-certified midrise completed in 2016 in the city’s historic Rainey Street district. NKF represented the seller in the transaction.
AvalonBay Sells Houston Property for $98M
Alliance Residential financed the acquisition of the 474-unit Archstone Toscano through a $66.7 million, four-year loan from Zions Bank.
Carter Multifamily Acquires GA Community
The new owner will renovate and reposition the 159-unit garden-style property located south of downtown Savannah. The community was more than 90 percent occupied at the time of sale.