Finance & Investment
Nexus Brokers 1031 Exchange Denver-Area Sale
Investment Advisor Sean Holamon represented seller Harmony Premier Properties in the disposition of the eight-unit asset. The new owner is planning upgrades in order to increase rent.
NHP Foundation Lands $9M Loan for Affordable MD Purchase
National Affordable Housing Trust, in a partnership with Low Income Investment Fund and Morgan Stanley, provided acquisition financing for the 120-unit property.
Long Island Senior Community Receives $10M HUD Loan
Located 45 minutes from Manhattan, Birchwood Suites in East Northport, N.Y., landed the refinancing loan through HUD’s Section 232 pursuant to Section 223(f) funding program.
Suburban Pittsburgh Asset Trades for $61M
Buligo Capital and Graycliff Capital acquired Ascent Four Thirty, a 319-unit community in Wexford. The property is currently 94 percent occupied.
Hampton Roads Community Trades for $30M
Robinson Development Group sold the 183-unit property located in Chesapeake, Va. Built in two stages, Cottage Trails at Culpepper Landing came online in 2015.
Louisville Property Receives $20M Refi
Berkadia South Florida’s Senior Managing Director Charles Foschini and Managing Director Christopher Apone arranged the loan on behalf of property owner CAPREIT.
AHC Starts Work on $100M VA Affordable Project
An outdated property in Arlington will be transformed into a 256-unit community. The redevelopment is expected to be completed in 2020.
Manhattan Luxury Condos Land $168M
The Continuum Co.’s Madison Square Park Tower recorded intense sales activity, with 58 out of 83 units already sold for a combined $400 million.
Capital One Originates $37M for 2 AL Properties
The communities include the 336-unit Grand Reserve at Phenix City and the 224-unit Southern Oaks Apartments in Mobile.
SoCal Community Sells for $5M
Stepp Commercial brokered the sale of the property located in the Bixby Knolls neighborhood of Long Beach, Calif.