News
NYC Moves Forward on $260M Harlem Project
Empire State Development approved a modified plan along with $4.5 million in grants for the redevelopment project, which will include more than 170 affordable and supportive housing units.
Location Ventures Secures Loan for Florida Student Housing
Orduna Court in Coral Gables underwent a $2.1 million renovation plan to convert the condominiums into student housing units.
Monarch Expands in New Mexico
Marcus & Millichap represented the seller and procured the buyer for the 176-unit Avalon at Carlsbad. Berkadia provided a $24.5 million Fannie Mae acquisition loan.
DC Rental Property Commands $37M
Montgomery Housing Partnership acquired the 394-unit affordable housing community in a transaction facilitated by Greysteel.
Phoenix Senior Housing Asset Trades for $27M
Chicago Pacific Founders acquired the 101-unit community, which offers three different levels of care and is located near several health-care providers.
Mill Creek Residential Adds Luxury Apartments in Denver
The eight-story Modera Cap Hill features 197 apartment units in the city’s Capitol Hill neighborhood just south of downtown.
Cortland Partners to Acquire Canadian REIT in $1.2B Deal
An affiliate of Cortland has agreed to buy Pure Multi-Family REIT in an all-cash transaction that will include more than 7,000 multifamily units.
Cleveland Multifamily Report – Summer 2019
The metro’s multifamily sector remained relatively stable in early 2019, with rents increasing 2.4 percent year-over-year through May, just 10 basis points below the national average.
Cushman & Wakefield Brokers $22M Deal in SC
Upstate Property Rentals sold the 22-building, 352-unit property to Nakash Family Land Trust and Mendel Fischer. The asset is located on the I-85 corridor.
Energesco, FCP Invest in Energy Efficiency at The Woods at Addison
The project is partially financed through a grant from the Maryland Department of Housing and Urban Development’s Multifamily Energy Efficiency and Housing Affordability Program.