News
Dougherty Secures Acquisition Loan in Dallas
Dougherty Mortgage closed a $5.3 million Fannie Mae loan for the acquisition of a market-rate community in Dallas. Dougherty’s Minneapolis and Vienna, Va., offices arranged the financing through a partnership with Old Capital Lending.
MRES to Manage 262-Unit Student Housing Community
The 920-bed community features approximately 6,700 square feet of retail space. This assignment marks the second for MRES’s new student housing division, which the company launched earlier this month.
Greystone Funds $1B in Freddie Mac Small Balance Loans
The company becomes the first lender to reach this milestone one year since the platform’s inception. Over the last three years, the SBL offering has produced more than 4,000 loans and funded approximately $10.5 billion.
Dougherty Funding Closes $11M Minneapolis Refi
The property is located in the Whittier neighborhood, between uptown and downtown, and is one block from Minneapolis Institute of Art and Minneapolis College of Art and Design.
Hines to Develop 1st San Antonio Community
Designed by Meeks + Partners, the 396-unit community will be built within The RIM, a 1.8 million-square-foot mixed-use development. Construction is set to begin in the first quarter of 2018 with occupancy in spring of 2019.
BrownLee Grabs $84M Baltimore Community
The 295-unit Winthrop in Towson was completed in 2015 and traded with help from JLL. Pillar originated a $58.8 million Freddie Mac acquisition loan.
San Jose Community Sells for $36M
Marcus & Millichap represented the seller in the transaction and procured the buyer. The 109-unit asset features 12,000-square-foot commercial space, as well.
JV to Build 274 Affordable Units in Brooklyn
HPD and HDC designated the joint venture between MHANY Management, Urban Builders Collaborative and Cypress Hills Local Development Corp. to develop Chestnut Commons, which will be East New York’s largest affordable community.
Berkadia Completes Sale, Secures Financing for MO Property
The Links at Parkville Apartments is a 244-unit multifamily asset in Parkville, near Kansas City. Senior Director Michael Sullivan, Director Brett Meinzer and Managing Director Alex Blagojevich worked on behalf of the seller.
Comunidad Realty Buys $55M Atlanta Assets
The two Norcross communities total 687 units and are located near the I-85 corridor. Both assets were subject to permanent Fannie Mae loans.