News
Luxury Condos Break Ground in Boston Area
A joint venture of Callahan Construction Managers, A.W. Perry and Boston Andes Capital will build Brio, a 77-unit waterfront property in Hingham, Mass.
Greystone Secures Largest HUD Loan for Nursing Facility
The $78.4 million refinancing for the 510-bed property in Brooklyn, N.Y., follows a $20 million capital improvement plan implemented by Centers Health Care.
Strong Development Softens Demand in Portland
Anchored by a diversifying economy and fueled by an expanding population, the city’s multifamily market remains strong despite its recent slowing rent growth.
Dougherty Secures $7M Acquisition Loan
On behalf of a private investor, Dougherty arranged the financing for the purchase of a Garland, Texas, market-rate community. The 12-year term, three-year interest-only Fannie Mae loan has a 30-year amortization schedule.
JLL-Backed REIT Pays $75M in Portland
The company has acquired Jory Trail at the Grove, a 324-unit apartment community in Wilsonville. The property is currently 95 percent leased.
Greystone Enters Michigan Market with New JV
The new joint venture with Commercial Property Advisors will focus on providing multifamily advisory services for clients in Michigan. Cary Belovicz will lead the new organization as an executive managing director.
Security Properties Acquires 2 Portland Assets
Security Properties acquired two properties totaling 228 units located near downtown Portland. The company plans to implement a renovation plan for The Commons in order to preserve the long-term affordability of the building.
Lightstone Grabs $71M AL Portfolio
The properties, all located in Mobile, include the 675-unit The Estates at Lafayette Square, the 450-unit Pine Bend & Hampton Park and the 200-unit Bel Air.
Berkadia Secures $23M Loan for NC Multifamily Development
Senior Managing Director James Tanner and Managing Director Henry Tanner arranged the financing through a HUD program. The loan will be used for Preserve at Carteret Place, a community in Morehead City, N.C.
Marcus & Millichap Facilitates $30M Sale of Affordable FL Asset
Evan Kristol and Felipe Echarte, first vice presidents of investment, represented the seller, a New York-based investment group, and procured the buyer for Cabana Club Apartments, a 332-unit community for seniors in Miami-Dade County.