News
Philadelphia Multifamily Report – Winter 2019
Rent growth began to accelerate in the fourth quarter, closing 2018 at 2.9 percent year-over-year, while investors boosted annual deal volume to $1.4 billion.
Affordable VA Community Commands $10M
Community Preservation Partners intends to renovate Royal Arms, a 144-unit property in Front Royal. The deal marks the rehabilitation company’s second affordable housing purchase in the state.
MA Senior Housing Asset Extends Affordability With $45M Refi
Non-profit B’nai B’rith Housing intends to execute a capital improvement program on 200 units at Covenant House in Brighton and ensure rental affordability for the next three decades.
Brooklyn Development Reaches Leasing Milestone
The Rheingold, the largest multifamily development in Bushwick, is 60 percent leased after four months. The property features 500 units and was designed by ODA Architects.
Affordable Boston Community Receives $39M Loan
The 146-unit West Newton Apartments in South End is set to undergo extensive renovations. MassHousing provided the financing to non-profit Inquilinos Boricuas En Accion.
Garden-Style Community Changes Hands in OH
A private investor purchased Fair Oaks, a 29-building property in the Far South submarket of Columbus, using a $5.1 million loan.
AZ Senior Living Community Changes Hands
A Chicago-based private equity fund purchased The Country Club at La Cholla, a 217-unit property in Tucson, from an MBK Senior Living affiliate. CBRE assisted the seller in the transaction.
Berkadia Arranges $28M in San Diego Sales
Two properties traded for the highest per-unit price in their respective submarkets. Associate Director Tyler Sinks, Managing Directors Ed Rosen and John Chu worked on behalf of the sellers.
Multifamily Investment in 2019: Finding Opportunities in DC
Bob Kettler, chairman & CEO of KETTLER, discusses how the firm has leveraged strong local knowledge with technology solutions to generate solid returns in a dynamic market.
Peak Campus Adds CT Asset to Management Portfolio
Located in Mansfield, the residential community serves students attending the University of Connecticut and is slated for a two-phase, 146-unit expansion.