Multifamily news in Finance & Investment - Pittsburgh
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Top 5 Multifamily Transactions in Pittsburgh
While investment volume across the metro has fallen sharply since 2017, investors are shifting focus to suburban locations where value-add deals present higher yields.
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Solomon Org. Expands Pittsburgh Holdings
Siara Management sold the 308-unit Class B property in Moon Township, Pa. M&T Bank provided the new owner with a 15-year acquisition and development loan.
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Carnegie Mellon Purchases Pittsburgh Community
A private investor traded the 78-unit multifamily property for $17 million. The new owner plans to renovate the building and repurpose it as dedicated university housing.
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Affordable Pittsburgh Asset Receives HUD Loan
Maple Ridge, which was acquired by Telesis Corp. this spring, is a 91-unit Class C rental property located in the East Hills submarket.
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Solomon Org. Acquires Pittsburgh Community for $41M
The buyer financed the acquisition of the 316-unit property with a $32.4 million Freddie Mac loan originated by M&T Bank.
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Pittsburgh Community Changes Hands
The 124-unit Class C property was sold for nearly $5 million. The new owner financed the transaction with a $7.5 million acquisition and development loan.
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Suburban Pittsburgh Asset Trades for $61M
Buligo Capital and Graycliff Capital acquired Ascent Four Thirty, a 319-unit community in Wexford. The property is currently 94 percent occupied.
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CPC Arranges $11M for PA Asset
Terrain Apartments, formerly a hotel, includes 152 units across 19 buildings. The borrower used Freddie Mac’s Green Advantage program and committed to a 27.8 percent water savings.
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Radnor, Harrison Street Pick Up Pittsburgh Student Housing
The partners acquired the 314-unit high-rise at Duquesne University for $23 million and will modernize the half-century-old community over the course of four summers.
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PA Community Receives $9M Freddie Mac Loan
The borrower used the current loan to pay off debt service and prepayment penalty, while also recovering trapped equity, which will be reinvested into the apartment community.
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PNC Bank Closes $100M Affordable Housing Fund
The new fund will be used to preserve affordable “at risk” rental properties for families and seniors nationwide.
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Q&A with Daniel Farber, Executive VP at HLC Equity
The HLC Equity principal discusses the company’s recent foray into the multifamily market, and the changes foreseen for this attractive real estate sector.
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On the Market: 5 Interesting CRE Listings for the Week of 8/8
This week's listings include a sprawling luxury property in Sherman Oaks, Calif., and a unique vintage community in Pittsburgh.
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On the Market: 5 Interesting CRE Listings for the Week of 7/25
This week's listings include a unique two-unit property in West Hollywood that was featured on a hit TV show and a converted schoolhouse in Pittsburgh.
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Affordable Senior Housing Coming to Pittsburgh
The Urban Redevelopment Authority board voted to approve funding for a new affordable senior housing project, Hillcrest Senior Residences.