News
Dougherty Lines Up HUD Financing for Minneapolis Community
Working on behalf of Albright LP, the company has arranged an $8.5 million loan for the rehabilitation of Albright Townhomes, an 89-unit affordable housing property.
LMC Breaks Ground on 339-Unit Seattle-Area Community
The Bower is an upcoming 339-unit property in the northern part of Kirkland, Wash., situated adjacent to Interstate 405. A direct-access freeway bus stop will be available for resident use.
NY Skilled Nursing Portfolio Lands $75M Financing
The 561-bed Optima Portfolio comprises three skilled nursing assets in the New York City area. The acquisition loan was funded through HUD.
Steadfast Management Names New President
A 30-year industry veteran and former Camden Property Trust executive, Michael Brown will oversee Steadfast’s 36,000-unit, 19-state multifamily management portfolio.
Bell Partners Buys Pasadena Asset
Cushman & Wakefield arranged Hines’ sale of The Ellington, a 212-unit, transit-oriented development. Completed in 2016, the community includes 25 affordable residences.
GSP Development to Transform FL Offices to Apartments
McShane Construction Co. is building Apex 1100, a former office building in Clearwater that will include 134 units and 4,300 square feet of retail space.
Central GA Community Lands $20M Refi
NorthMarq Capital originated the 10-year Freddie Mac loan, which retires two previous mortgages totaling $18.9 million which were set to mature this year.
FirstService Residential to Manage NJ Properties for Alfred Sanzari
The portfolio includes 535 units in Bergen and Middlesex counties and is nearly 100 percent occupied. This is the first time Alfred Sanzari has partnered with a third-party manager.
Goldman Sachs Buys AZ Luxury Property
The 341-unit Hanover Mill Avenue was purchased from The Hanover Co. and is situated three blocks from Arizona State University, within walking distance of the Metro Light Rail.
Affordable MN Property Lands $6M Construction Loan
Dougherty Mortgage facilitated the HUD loan for the planned Thomas Avenue Flats in St. Paul. The community is expected to open in spring 2019.