Finance & Investment
Dougherty Lines Up HUD Financing for Minneapolis Community
Working on behalf of Albright LP, the company has arranged an $8.5 million loan for the rehabilitation of Albright Townhomes, an 89-unit affordable housing property.
NY Skilled Nursing Portfolio Lands $75M Financing
The 561-bed Optima Portfolio comprises three skilled nursing assets in the New York City area. The acquisition loan was funded through HUD.
Bell Partners Buys Pasadena Asset
Cushman & Wakefield arranged Hines’ sale of The Ellington, a 212-unit, transit-oriented development. Completed in 2016, the community includes 25 affordable residences.
Central GA Community Lands $20M Refi
NorthMarq Capital originated the 10-year Freddie Mac loan, which retires two previous mortgages totaling $18.9 million which were set to mature this year.
Goldman Sachs Buys AZ Luxury Property
The 341-unit Hanover Mill Avenue was purchased from The Hanover Co. and is situated three blocks from Arizona State University, within walking distance of the Metro Light Rail.
Affordable MN Property Lands $6M Construction Loan
Dougherty Mortgage facilitated the HUD loan for the planned Thomas Avenue Flats in St. Paul. The community is expected to open in spring 2019.
CT Community Lands $53M Refi
The 468-unit Broadmoor Apartments in Hamden received a 10-year refinancing loan, arranged by Meridian Capital Group.
Economy Watch: Tax Credit-Financed Multifamily Performing Well
Multifamily communities financed by the federal government’s LIHTC program are operating better than in any period during the program’s history, according to a recent CohnReznick report.
Security Properties Closes Denver Community Recap
The 120-unit affordable property in Commerce City is slated for renovations, which will include the addition of a fitness center, computer lab and laundry room.
South Bay Luxury Community Sells for $107M
TH Real Estate has acquired a newly constructed 186-unit asset located in Santa Clara, Calif. Designed by KTGY Architecture + Planning, the property came online in the spring of 2017.