Finance & Investment
PPD Holdings Eyes $111M to Build, Refi
The company received $47 million to refinance a pair of Greater Atlanta communities and awaits final approval of $64 million in construction financing for 464 units in Florida.
RADCO Expands GA Footprint With 38th Acquisition
The Atlanta-based developer acquired Ashford 6860, a 260-unit property in Norcross. The $22 million deal marks the company’s eighth purchase in the Gwinnett County submarket.
Michigan Ave. Tower Scores $150M Refi
MILA, an upscale 402-unit property in Chicago’s East Loop, was developed by a joint venture led by John Buck Co. Proceeds will refinance the construction loan.
CBRE Closes Inland Empire Sale
Evart Street Apartments in Montclair, Calif., changed hands for $8.9 million, one of the highest per-square-foot prices for a multifamily property in the area, according to the brokers.
Lena New Boston Breaks Ground on 41 Mixed-Income Units
The $200 million redevelopment of the former Boston State Hospital site entered a new phase, which will include 22 affordable units. The project is part of Olmsted Green, a 42-acre development in the heart of the city.
Phillips Realty Secures $31M Financing for PA Project
The company worked on behalf of Woodfield Investments, the developer of the 320-unit Woodfield at Valley Forge in suburban Philadelphia. The asset will be part of of the Village at Valley Forge, a 122-acre mixed-use lifestyle property.
Walker & Dunlop Arranges $86M for Portfolio Upgrade
The financing will support the renovation of 1,208 units in Florida and Texas, as well as enable the borrowers to recapitalize the assets and handle deferred maintenance.
CBRE Secures $35M Financing for Tampa Student Housing
Horizon Realty Advisors purchased a 206-unit student housing property for $46.6 million. Benjamin Roelke of CBRE secured the long-term financing for the acquisition of Venue at North Campus.
LA Senior Communities Receive $19M Mortgage Financing
The funding, obtained through the company’s bond purchase program, will be used for the acquisition, rehabilitation and permanent financing of three affordable developments.
Top Financiers on What Keeps Them Up at Night
Despite transactional and political uncertainty in the first half of 2017, the real estate capital markets held firm, with ample capital and vigorous lender competition creating a robust environment for borrowers.