Finance & Investment
SoCal Affordable Community Changes Hands
The 60-unit fully affordable property fetched a price tag of $3 million, with the buyer landing $2.7 million in acquisition financing.
Standard Communities Nabs Affordable RI Asset
Following the acquisition, the company intends to perform an extensive rehabilitation of the 106-unit Curtis Arms Apartments in Providence.
Boston-Area Community Preserves Affordability for Next 40 Years
Asian Community Development Corp. purchased the Martensen Village in Quincy, mass. The new owner acquired the property under a state law that prevents it from being sold and converted into a market-rate community.
KeyBank Provides $39M Loan for Historic Cleveland Community
The financing comprises three different types of loans, which will contribute to the redevelopment and preservation of Commodore Apartments, a 198-unit property.
San Antonio Student Community Changes Hands
Arrimus Capital financed the acquisition of the 498-bed property with a nearly $25 million Freddie Mac loan originated by Walker & Dunlop.
Berkadia Represents Both Parties in $33M Miami Deal
Senior Director Tal Frydman, Director Yoav Yuhjtman and Associate Director Nicholas Perrone of the company’s South Florida office brokered the sale of the 234-unit Park Plaza Apartments.
Detroit Community Reopens Following $12M Renovation
The Hamilton Midtown, a 105-year-old historic building previously known as Milner Arms, underwent an extended renovation that lasted more than a year.
Penzance Targets Metro Washington with $255M Fund
For its first private-equity fund, the investor-developer anticipates parlaying capital into a portfolio valued at $800 million to $1 billion
NM Development Lands Tax Relief
The Albuquerque City Council approved the metropolitan redevelopment bond to support construction of the 226-unit Broadstone Northpoint Apartments, which broke ground in early 2017.
Detroit-Area Portfolio Sells for $20M
Coseo Properties offloaded the two communities, totaling 326 units, five years after acquiring them from the Slatkin Corp. for approximately $11.6 million.