Finance & Investment
$58M Financing Earmarked for Atlanta Portfolio Acquisition
George Smith Partners secured the financing for the 680-unit workforce housing portfolio. The two buildings will undergo a $5.5 million renovation.
Greysteel to Sell VA Affordable Housing Portfolio
The company was tapped to market Lexington Commons in Newport News, Va., and Parkwood Manor in Norfolk, Va., totaling 232 units.
NY Nursing Facility Lands $25M Refi
Greystone provided the HUD-insured loan for Adira at Riverside Rehabilitation & Nursing in Yonkers, N.Y. The financing carries a 30-year term at a low, fixed rate.
UIP Snags $32M MD Community
The company purchased the 212-unit Walker House in Gaithersburg, Md., from Washington REIT. UIP plans to renovate the older apartments and some of the community common areas.
Mogharebi Closes Record Breaking Sale in Fairfield, CA
The company closed the sale of Spring Meadows Apartments at a $160,000 price per unit. This marks a record price for communities built before 2000 comprising more than 30 units.
Grandbridge Closes Indianapolis Community Refi
The 493-unit community is situated on the campus of Indiana University–Purdue University Indianapolis. Grandbridge placed the refinancing with Ladder Capital Finance.
Greystar Nabs NJ Community for $70M
Cushman & Wakefield represented the seller, Invesco Real Estate, in the disposition of the amenity-filled, 115-unit property located in Hoboken, N.J.
Transactions: November 2017
The following is a list of transactions that were announced between April 24 and Aug. 26, 2017.
CBRE Arranges Refi for SC Community
Monica Newman of CBRE’s Denver team originated the $9.7 million loan through the company’s FHA lending platform on behalf of the borrower, Greenville Park West LP. Stonemark Management currently manages The Summits Apartments in Graniteville.
Hunt Mortgage Refis Loan on Memphis Apartments
Highland Meadows benefits from the Fannie Mae loan, which will help upgrade the 588-unit, garden-style apartment property, built in 1975.