Finance & Investment
North FL Community Changes Hands
The 96-unit multifamily asset, completed in 1963, traded for $6 million, more than doubling the seller’s return in two years.
Manhattan Residential Conversion Project Lands $132M Financing
The Moinian Group is transforming a former office building in the Battery Park neighborhood into a 345-unit amenity-rich community catering to Millennials and Gen Z renters.
Avanath Strengthens East Coast Presence
The company is the new owner of two assets in Harlem, N.Y., and Temple Hills, Md. For a combined $36.3 million, Avanath purchased 202 affordable housing units.
JV to Invest $300M in US Co-living Expansion
Medici Living Group and W5 Group will grow the QUARTERS brand by developing 1,300 units over the next three years.
Work Begins on $136M Manhattan Affordable Housing Project
Related Cos. and The Hudson Cos. are bringing the first newly constructed, permanently affordable housing project to Roosevelt Island, N.Y. The 21-story community is set to encompass 340 units.
Related Cos. Receives $50M Refi for Affordable MA Asset
MassHousing provided the funds for the renovation of Chestnut Park Apartments, a 489-unit community in downtown Springfield. Wells Fargo will act as the project’s commercial construction and permanent lender.
Deancurt Realty Group Buys Orlando Apartments
The firm purchased the suburban 208-unit Class B community for nearly $24 million, financing the acquisition with a loan and line of credit.
Jacksonville Development Gets $39M Construction Financing
Crest Residential’s 256-unit project is estimated to break ground in the spring, financed by a five-year loan from Protective Life Insurance Co.
Arel Capital Buys 504-Unit Houston Community
Allied Orion Group is overseeing property management for the multifamily asset. The new owner plans to begin renovations this year.
Lev Investments Acquires San Antonio Asset
The sale of the 62-unit Liberty Ridge benefited from a $2.7 million Fannie Mae loan. The community is located just off Interstate 410.