News
Boston Capital Closes One Fund, Launches Another
Boston–Boston Capital Corp., a long-time player in multifamily investment, has closed one fund and is now putting another together for the acquisition of apartment properties.
TODAY’S DEALS: Cornerstone Acquires $58.6M Mixed-Use Community
Cornerstone acquires a 163-unit mixed-use development in California; NorthMarq secures a $48M refi loan; and Boston Capital invests in the rehabilitation of an affordable housing community in Texas.
Preserving New Haven’s Past Is Goal of School Renovation
New Haven, Conn.–The historic Lovell School will soon enjoy a second life as an 18-unit apartment complex, thanks to a $1.5 million loan financing deal.
Economy Watch: Business Groups Nervous about Debt Ceiling
A sizable group of business organizations pleads with Congress to raise the debt ceiling; the JOLTS report shows little job creation; and the FOMC releases less than illuminative minutes.
Flagler Expands Multifamily and Retail Offerings
Flagler Real Estate Services is expanding its multifamily and retail offerings with two strategic alliances, bringing in Auker Developments and DBR & Associates.
TODAY’S DEALS: Waterton Acquires 224-Unit Community in Florida
Waterton Residential acquires a 224-unit community in Florida; HFF closes the sale of and arranges financing for two assets outside Houston; and Phillips Development & Realty sells its interest in a 339-unit asset in Dallas.
Natwick to Lead Crescent Multifamily
Charlotte, N.C.– Brian Natwick has been selected to lead the Multifamily Division of Crescent Resources, LLC.
Former NYC Brownfield Now Site of Affordable Housing
New York–Developed by three partners working together, the mixed-use, low-income La Terraza rental development has been recognized for its affordable brownfield redevelopment.
Federated to Purchase Land from City for Mixed-Use Project in Portland, Maine
Portland, Maine–The Federated Cos. has entered into a contract with the city of Portland to develop a mixed-use project designed to transform the Bayside neighborhood into a live-work-play destination.
Economy Watch: Conference Board Employment Index Registers Weak Advance
The Conference Board’s employment index edges upwards slightly; railroad traffic declines slightly; and the battle in Washington gets more intense by the day.