News
TD Bank Invests in Affordable Philly Community
The bank provided a $9.1 million construction loan and purchased $12.0 million in federal tax credits. The money will be used to redevelop a nursing home into a 60-unit affordable housing project for seniors.
TruAmerica Nabs Orlando Community for $48M
TruAmerica has expanded its portfolio with the purchase of Arium Falcon Pines, a 300-unit luxury community. The property will be rebranded as Canterbury Cove, and receive interior and exterior upgrades.
Brooklyn Luxury Condo Sets Sales Record
The 14-unit 868 Lorimer On The Park is 50 percent sold within three months of The Serhant Team launching sales. The property also includes Greenpoint neighborhood‘s most expensive condo sale.
Bellwether Closes $42M for 3 Affordable Properties
The properties, all in Charlotte, N.C., include the 381-unit Southside Homes, the 176-unit Edwin Tower and the 161-unit Charlottetown Terrace.
Passco Buys LA Apartments
Watervue, a 264-unit community in Lake Charles, La., features two lakes, as well as amenities such as a fitness center, swimming pool and outdoor kitchen.
PB Bell Begins Construction on AZ Senior Housing
In partnership with Cadence Senior Living, the company is developing Inspira Arrowhead, a 165-unit senior housing community in Glendale, Ariz., that will feature both independent living and memory care apartments.
Rapid Job Gains Reshape Tampa
Solid fundamentals and above-trend employment growth spur demand for multifamily product across the metro, leading to significant rent increases. Transaction volume is also robust, while deliveries are expected to hit a cycle peak by the end of the year.
JV Buys 649-Bed KY Student Housing
Campus First Student Living and CF Real Estate Services acquired The LEX, a 266-unit community serving students attending the University of Kentucky.
DC Community Trades for $10M
Greysteel brokered the sale of Cascade Park Apartments on behalf of NOVO Properties, located within minutes of the Capitol Riverfront. According to Yardi Matrix data, occupancy is currently at 94 percent.
San Jose Luxury Development Lands $201M
HFF worked on behalf of Greystar to secure the construction loan through Otéra Capital. The Reserve is expected to be completed in 2020.