Finance & Investment
Berkadia Finalizes Transactions in NY, FL
The firm secured financing for an affordable 130-unit property, called Tony Mendez Apartments, in Manhattan and two properties, called Fernwood Grove and Poplar Park Terrace, totaling 293 units in Tampa.
Survival of the Retro-Fittest
A growing list of financing options is making it easier to turn existing apartment properties green. Clearly, the real estate financing market is embracing energy-saving property retrofits.
On the Market: 5 Interesting Listings for the Week of 4/17
This week’s listings include a newly renovated and college-adjacent property in Rowland Heights, Calif., and a 28-unit Phoenix community offered for less than $1 million.
Texas, Israeli Investors Snap Up Houston Property
The PPA Group and a private investor have acquired a 236-unit community. PPA plans to renovate the units and upgrade the amenities.
NorCal 410-Unit Portfolio Trades for $52M
Berkadia brokered the sale and secured $38.9 million in financing for six apartment properties in Chico, Calif.
4-State, 2,515-Unit Portfolio Commands $430M
Blackstone acquired six properties in Texas, Florida, Kansas and Illinois from The Realty Associates Fund IX, part of TA Realty’s flagship fund series.
Modera Portfolio Lands $364M Refinancing
A CBRE Capital Markets team assisted the owner in securing the five-year loan. Morgan Stanley originated the financing measure for the acquisition.
Taurus Snags $56M MA Property
The investment firm acquired Wellington Parkside from SMC Management. The Everett community was built in 2015 and includes 190 units.
On the Market: 5 Interesting Listings for the Week of 4/10
MHN’s recent finds include two Colorado properties: one in the burgeoning Colorado Springs student housing market, and a historic four-unit property in Denver built in 1890.
Capital One Secures Refi for SoCal Affordable Community
The fixed-rate loan for the 156-unit manufactured housing community in Riverside, Calif., has five years of interest-only payments.