Finance & Investment - Pittsburgh

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.
Market Rate
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.
Market Rate
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.
Finance & Investment

  • 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.

    21 May 2018 15:32

  • 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.

    11 May 2018 18:46

  • 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.

    14 March 2018 13:32

  • 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.

    15 November 2016 21:02

  • 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.

    27 September 2016 10:22

  • 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.

    12 August 2016 16:31

  • 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.

    29 July 2016 15:50

  • 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.

    20 January 2016 16:52

  • SingleSource Joins Forces with iMortgage

    Two Pittsburgh-area mortgage service firms have merged to create one of the country's largest privately held vendor management companies.

    07 January 2016 15:39

  • Dick’s Sporting Goods to Expand Headquarters on Publicly Owned Site in Findlay

    Dick's Sporting Goods is planning to expand its corporate footprint in Findlay Township. According to the Pittsburgh Business Times, the company has reached an agreement with the Allegheny County Airport Authority to lease 73 acres at the Northfield Commerce Park, where it considers the development of a new facility.

    20 June 2013 16:27

  • Chatham Lodging Trust to Acquire Pittsburgh Hyatt Place for $40M

    Chatham Lodging Trust has agreed to purchase the 178-room Hyatt Place Pittsburgh/North Shore near downtown Pittsburgh for $40 million. Scheduled for completion by June 17, the transaction is subject to customary closing requirements and conditions.

    12 June 2013 21:10

  • ANSYS to Establish New Headquarters at Southpointe II Business Park

    By Adriana Pop, Associate Editor Southpointe-based technology company ANSYS will establish a new headquarters at the Southpointe II Business Park, less than a mile away from its current 107,000 square-foot space. According to the Pittsburgh Business Times, the company has signed a 15-year lease for a new 186,000-square-foot building scheduled for completion in the fourth [...]

    20 September 2012 19:26

  • ERT to Acquire Biomedical Company Invivodata

    by Adriana Pop, Associate Editor Global technology company ERT purchased Pittsburgh-based biomedical company Invivodata, Inc. for an undisclosed amount. The acquisition positions ERT as a leader in Clinical Outcome Assessments. The transaction was facilitated by San Francisco-based private equity group, Genstar Capital LLC, which recently announced it has completed the acquisition of ERT. In June, [...]

    12 July 2012 15:20

  • Pittsburgh Penguins, University of Pittsburgh Plan for Sports Complex in Cranberry

    Adriana Pop, Associate Editor The Pittsburgh Penguins along with the University of Pittsburgh Medical Center (UPMC) are planning a joint practice rink and sports medicine complex in Cranberry. According to the patch.com, the proposed 150,000-square-foot complex would be located in the Summit of Cranberry Woods business park off Route 228, near Hilton Garden Inn. Penguins [...]

    07 July 2012 02:00

  • Impakt Development Nears Completion on School Conversion

    by Adriana Pop, Associate Editor The conversion of the historic Fifth Avenue School into a luxury apartment building is nearing completion. Located near the South Side, Downtown and Oakland, Pittsburgh’s newest loft project offers 65 large floor plans. The Pittsburgh Business Times reported that work began in 2010, and the first units would be turned [...]

    27 April 2012 22:10