Finance & Investment
JV Secures $155M for Miami Condos
Terra, New Valley, Great Eagle Holdings and Bizzi & Partners secured the construction financing for Eighty Seven Park, a 66-unit tower featuring luxury amenities such as a butler service, juice bar and full-time botanist.
Secondary Markets Present Strong Opportunities
Investing in markets outside the core presents an opportunity to capitalize on the demand for downtown assets without the downtown address. Stephen Catarinella of CAPREIT discusses what factors to consider when acquiring communities in these areas.
CapStack’s Stake in Multifamily Investment
The New York City-based firm is focusing on value-add opportunities in the Southeastern U.S. With 15 years of experience in the industry, Portfolio Manager Ben Inman will handle acquisition and asset management of CapStack’s multifamily investments.
Dougherty Closes $9M Loan for Tallahassee Sale
The company closed a 12-year Fannie Mae financing for the acquisition of a 152-unit market-rate property located within 10 minutes of downtown.
Napali Acquires 2nd GA Community
The company purchased Forest Park Manor, a 100-unit property in Forest Park, and plans to rebrand it as Residences at Stonebrook.
Aztec Group Secures $5M for FL Senior Communities
The Memory Lane Cottages in Oviedo and Tampa are assisted living facilities specializing in serving individuals with Alzheimer and dementia-related disease. Charles Penan, executive vice president, and Howard Taft, senior managing director, brokered the deal.
JV Commits $50M to Mid-Atlantic Affordable Housing
Roughly 4,100 units will preserve their affordability, thanks to a partnership between TIAA and Enterprise Homes. The two companies acquired a 43-property portfolio from The Shelter Group.
Dougherty Secures $13M Fannie Mae Loan for GA Asset
The financing will be used for the acquisition and rehabilitation of Riverstock Apartments, a 172-unit affordable housing property in Woodstock.
New Destiny Breaks Ground on Affordable Bronx Community
The Jennings will feature 42 units for low-income households. Alex Gorlin is the architect and Lettire Construction is the general contractor.
Q&A with Norman Radow, CEO at RADCO
Specializing in turning around “diamonds in the rough,” the RADCO founder discusses why Atlanta’s broad-based job and population growth are fostering demand for multifamily assets.