Finance & Investment
WinnCos. Eyes $19M Rehab for NJ Affordable Community
The firm plans to make significant interior and exterior upgrades to the newly acquired Bridgeton Villas Apartments, a 156-unit community in Bridgeton, N.J.
Renovated Downtown Nashville Community Trades for $27M
A Covenant Capital Group fund sold the 170-unit 500 Fifth Ave. The deal follows a $4 million renovation process the firm completed at the 56-year-old building.
PAC to Invest $18M in Atlanta Development
Preferred Apartment Communities also has the option to purchase the 258-unit property in Lindbergh at a discounted price, following the asset’s stabilization.
Freddie Mac Revises 2017 Outlook
In this video, the GSE concludes that, despite performance moderating from cycle highs, the U.S. multifamily market should remain healthy into 2018.
Wasatch Group Lands $47M Refi Loan
The company used the loan to pay off a Fannie Mae regulatory bond on Chesapeake Commons, a 600-unit community in Rancho Cordova, Calif.
Walker & Dunlop Closes $289M Financing for CA Portfolio
The properties comprise nearly 2,200 units in four major markets. Of the 21 properties, 11 have Section 8 HAP contracts to provide affordable housing, and 10 qualify for Fannie Mae’s Green Rewards Program.
Market Remains Healthy Despite Slight Dip in Rents
July posted a 2.6 percent year-over-year increase, even after a slight decline from June, according to Yardi Matrix. So far this year, rents are up 2.7 percent compared to 2016.
George Smith Secures Financing for Hollywood Condo Conversion
The $4.5 million loan will be used by Friedman Capital to purchase and transform Patio del Moro into a condominium. The historic asset was once home to celebrities such as Charlie Chaplin or Humphrey Bogart.
BGL Completes Financing for Cleveland Waterfront Community
The independent investment bank advised The Landmark Cos. on the acquisition of Quay 55, a historic building that will undergo an ample transformation process and rebranding.
Monument Capital Management Enters Illinois Market
The Residences at 1550, located in the Chicago suburb of Mount Prospect, include 509 one-, two- and three-bedroom garden- and townhome-style units. The property will be managed by the firm’s sister company, Monument Real Estate Services.