Finance & Investment
Universe Holdings Starts LA Buying Spree
The company has added to its California portfolio with the $12.6 million acquisition of the 45-unit Villa Edgemont in Los Feliz.
Continental Realty Snags $61M Raleigh Community
The NRP Group sold The Edison Lofts, a seven-story, 223-unit property close to the city’s central business district.
NY Launches $20B Affordable Housing Initiative
The five-year plan was created to combat homelessness and proposes $10 billion to create and preserve more than 110,000 units across the state, including 12,000 units is designed through the newly enacted “Affordable New York” program.
Avesta Nabs Orlando Portfolio for $32M
As part of the firm’s strategy, Avesta has commenced a $5 million renovation program to modernize the interior units and upgrade the exterior aesthetics of its latest acquisition.
HFF Closes Recap of NC Community, Arranges New JV Equity
The Dickson family will co-own Solis Ninth Street with Blue Heron Asset Management LLC. Terwilliger Pappas Multifamily Partners sold its stake in the 229-unit property.
Marcus & Millichap Leads San Diego County Community Sale
A family trust sold Villa Quixote, a 78-unit apartment community in Escondido, Calif., for $11.8 million. The community was built in 1969, presenting the buyer with an opportunity to renovate the property and raise rents.
WinnCos. Preserves NJ Affordable Housing
The company joined with Greater Bergen Community Action to complete a project that will preserve affordable housing for 400 residents for 30 years in Jersey City.
Avanath Acquires Brooklyn Portfolio
The company, in partnership with Oak Tree Management, acquired a 17-building affordable housing portfolio with 198 units for $73 million.
EBSCO Refinances 2 Southeast Properties
The company received $61.6 million from Capital One in Fannie Mae fixed-rate loans to refinance communities in Tennessee and North Carolina.
PA Senior Living Community Expands
Windy Hill Village, a Presbyterian Senior Living community in Philipsburg, broke ground on a 48-unit rental apartment building. R.S. Mowery & Sons is the project’s contractor.