Finance & Investment
On the Market: 5 Interesting Listings for the Week of 11/13
This week’s listings include two historic buildings: a three-unit San Francisco property built in 1900 and a stately Chicago community constructed in 1920.
Greystone Refinances Philly Property for $20M
West Village in West Philadelphia received three Freddie Mac small-balance loans. The 86-unit community features townhome-style duplexes.
TGM Expands Chicago-Area Holdings
Built in 1991, Crossings at Danada, in Wheaton, Ill., is a 600-unit garden-style community that spans 27 buildings.
Affirmed Housing Opens Affordable San Diego-Area Community
Eastgate serves low-income families and veterans. Built by Wermers Construction, the property includes 42 units and is located in San Marcos, Calif.
Berkadia Arranges $22M for SoCal Community
The company secured a seven-year Freddie Mac acquisition loan for Interstate Equities Corp.’s purchase of the 133-unit Verse La Mesa in La Mesa, Calif.
Raintree Lands $218M Refi for CA Community
Capital One arranged the refinancing for Encasa Apartments, a 465-unit community in Sunnyvale, Calif. The property will receive 10-year, Fannie Mae fixed-rate loans that have 10 years of interest-only payments.
Castle Lanterra Buys in Denver Metro
Built in 1972, Sunset Ridge Townhomes in Westminster, Colo., includes 280 units featuring a mixture of two-bedroom and townhome units.
Public Housing Goes Green
The financial challenges of operating permanently affordable housing seem inevitable, but a growing number of public housing authorities are embracing sustainability projects to offset costs, increase operating efficiency and improve residents’ quality of life, according to panelists at the 2017 Greenbuild conference.
JPI Closes Financing for Upscale TX Community
Located in the Las Colinas neighborhood of Irving, Texas, Jefferson Promenade will include 387 units. The property will be located close to the 1,000-acre Cypress Waters master-planned development.
Hunt Secures Fannie Mae Loan for TX Portfolio
The sponsors obtained two loans to refinance the 888-unit, three-property portfolio. The proceeds will pay for energy- and water-saving improvements.