Finance & Investment
GAIA Acquires 90 Condo Units in Manhattan
The firm paid $53 million for the apartments located within Bridge Tower Place, a luxury building on the Upper East Side.
Meet Freddie Mac’s Newest SVP
Steve Lansbury joined the financier two decades ago. He will replace Deborah Jenkins, who will also be promoted to executive vice president.
IPA Arranges $23M Sale of FL Lakefront Development Site
Marcus & Millichap worked on behalf of the seller. The new owner intends to break ground next year on a luxury senior living community.
Pollack Shores Snags GA Community
The firm purchased AMLI Northwinds in Alpharetta, which will be renamed and undergo a $13 million renovation plan to upgrade unit interiors and amenity spaces.
Affordable San Diego Asset Lands $52M Refi
Berkeley Point arranged the financing for Lantana Hills Apartment Homes, a 380-unit property built in two phases. The community underwent extensive renovations between 2014 and 2017.
Bellwether Enterprise Secures $21M for SF Affordable Housing Portfolio
The five properties, which include 370 units, received a Freddie Mac Freddie Mac Targeted Affordable Housing Preservation Loan that will go toward deferred maintenance to allow for safe affordable housing in high-cost markets for the long term.
Affirmed Housing Opens CA Affordable Senior Property
Bella Vita is a 65-unit development in Carson. The community serves low-income seniors and includes 3,000 square feet of commercial place.
CBRE Arranges Sale of OR Community
Phil Oester, Joe Nydahl and Josh McDonald brokered the sale of the asset, representing the seller, Marathon Management.
Multifamily Takes Benchmarking’s Measure
Operators in the sector strive to catch up with their commercial counterparts.
LIHTC’s New Lease on Life
The low-income housing tax credit (LIHTC) program has put more than three million housing units in service since its inception in 1986, and this year’s introduction of tax reform has expanded LIHTC for the next few years. But in today’s compressed-yield, rising-rate environment, will the credits’ future remain secure?