Finance & Investment
Arbor Realty Appoints New VP
Sam Gold will be in charge of Freddie Mac SBL, Fannie Mae and FHA loan originations for clients in the Midwest. He will be based in the company’s Chicago office.
JV Acquires DFW Apartments
Warba Bank and Courtland Partners secured Suite 2801, a 417-unit community in Euless, Texas. The community was developed in 2013.
Greystone Brown Closes Sale of Atlanta Community
The team of Barden Brown, Chandler Brown and Cory Caroline Sams worked on behalf of seller Alexander Properties Group in the $49 million transaction.
CBRE Brokers Sale of Ft. Lauderdale-Area Community
Still Hunter and Chris Smiles of CBRE’s South Florida Multifamily Capital Markets team worked on behalf of the seller in the transaction, while Freddie Mac originated the acquisition financing.
Berkadia Secures $96M for PA, VA Properties
The company’s HUD team secured financing for three properties: $67.1 million for two properties in Philadelphia, the largest HUD 223(f) loans originated in the area in the last five years, and $29.1 million for a property in Richmond, Va.
Provident Realty Lands $122M for Historic Houston Mixed-Use
HFF secured a floating-rate bridge loan through TPG RE Finance Trust. The financing will be used for redeveloping The Star, which will feature 286 units.
Electra America Buys 5th San Antonio Property
Built in 2013, Pecan Springs is a 344-unit garden-style community. The property is currently 95 percent occupied.
Bascom Expands CA Footprint With $17M Buy
Casanova Grove is a 76-unit community located in Monterey.
How Mission Lenders Fueled Motor City’s Comeback
After the housing crash, Detroit’s revival was powered by mission lenders. Nearly 42 percent of investment in Detroit real estate was possible with financing from such alternative financing organizations. Urban Institute’s Brett Theodos filled MHN in on mission lending and its opportunities for expansion.
Boston Affordable Housing Gets $14M Renovation
LIHC Investment Group and Weston Associates received financing that will keep the 380-unit Shore Plaza Apartments affordable for the next 20 years.