Finance & Investment
Keys to a Successful Development Strategy
BTI Managing Partner Noah Breakstone reveals how the company finds financing for its developments in Florida and the southeastern United States, and what he expects from the year ahead.
Affordable MD Townhomes Undergoing $14M Rehab
Seventy-five of the units in Scotland Community will receive both interior and exterior renovations, with funds provided by the Low Income Housing Tax Credit.
The Number of Insecure Renters to Increase
Will the affordable housing sector hit a roadblock anytime soon? Bank of America Merrill Lynch’s Maria Berry discussed the challenges in the industry and how changes in the tax system will impact the sector.
Greystone Provides $36M Loan for TX Community
Built in 2016, Parkside Place last traded in November, when Oden Hughes sold it for $48.5 million. The community was 96.1 percent occupied as of October.
Capital Square 1031 Acquires GA Asset
High Ridge Apartments, a 160-unit community in Athens, includes 11 two- and three-story residential buildings. The property was acquired using a 10-year term Fannie Mae loan.
KeyBank Secures $73M Loan for KY Community
The Freddie Mac first mortgage loan features an adjustable rate and a four-year interest-only term. It was used to cover part of the community’s acquisition cost.
Hunt Provides $28M Acquisition Loan for PA Asset
The community is located in a residential neighborhood of Reading, Penn. Hunt obtained a favorable loan for the owner, tapping into Fannie Mae’s Green Rewards program.
Berkadia Arranges $157M Loan for CA Properties
The company worked on behalf of Realty Center Management, which used the Fannie Mae loan to refinance existing debt on four assets.
$277M MD Portfolio Changes Hands
The four-asset NOAH portfolio brings Morgan Properties’ total multifamily investments to $1.2 billion and more than 8,600 units during the past year.
MA Multifamily Property Lands $24M Refi
Hunt Mortgage Group has provided a $23.5 million refinancing loan for South Coast Landings, a 240-unit multifamily property, located 18 miles southeast of Providence, R.I.