Finance & Investment
Affordable FL Community Lands $7M Financing
Walker & Dunlop arranged a 35-year loan for William Booth Towers, a 168-unit, age-restricted property west of Orlando’s central business district.
NJ Community Sells for $27M
A joint venture of C6 Real Estate Partners and Citymark Capital acquired the newly built, 100-unit River Edge at Garfield, which comprises one- and two-bedroom apartments ranging from 834 to 1,217 square feet.
RealtyShares Closes $12M Loan for Seattle Student Housing
The 10-property portfolio is located near the University of Washington, in one of the fastest growing housing markets in the U.S. The acquisition marks the company’s largest commercial real estate debt transaction to date.
5 Cap Launches Investment Program with $60M Buy
The acquisitions are in line with the new national investment venture’s strategy to pump more than $1 billion into assets under management, focusing on purchasing and operating value-add residential properties.
Dallas Community Lands $14M Refi
The 12-year term Fannie Mae loan originated by Dougherty Mortgage LLC and Old Capital Lending has a 30-year amortization schedule. The 27-building community features studios, one- and two-bedroom apartments.
Bell Partners Closes $600M Fund
: Value-added Bell Apartment Fund VI invests in multifamily properties in the United States, leveraging the apartment and managing firm’s operating platform.
May Employment Solid but Concerns Remain
The United States economy added 138,000 jobs in May, according to the Bureau of Labor Statistics. The unemployment rate has now remained at less than 5 percent for a year, but the picture is not entirely rosy.
The Positive Impact of the Interest Rate Hike
CityView’s Sean Burton discusses the effect of an increased supply of multifamily units and explains why higher interest rates could spur more development.
NYC Public Housing Slated for $560M Makeover
The 24-building public housing community in the New York City borough of Queens will use the funding for upgrades and renovations.
29SC Expands Into Sacramento With 110-Unit Community
The company plans to spend $1.3 million in capital improvements in the property located in Citrus Heights, Calif., a submarket with a more than 8 percent rental rate growth.