News
Partnership Formed to Own 275 MF Properties
Gardena, Calif.–Real estate veteran Michael A. Costa, along with El Segundo, Calif.-based Highridge Partners and the financial giant Citibank, have formed a joint venture to own and manage a sizable portfolio of multifamily properites.
DEAL OF THE DAY: KeyBank Provides $39.4M Refi for Construction Loan
Marina del Rey, Calif.–KeyBank Real Estate Capital recently provided $39.4 million in Fannie Mae funding to Golden West Properties.
PHFA Executive Director Elected Vice President of National Organization of State Housing Finance Agencies
Harrisburg, Pa.–Brian A. Hudson Sr., executive director and CEO of the Pennsylvania Housing Finance Agency (PHFA), was recently elected to serve as vice president of the National Council of State Housing Agencies (NCSHA.) NCSHA is a national nonprofit, nonpartisan association that represents the affordable housing interests of housing finance agencies before the administration and Congress. Its members are the HFA’s of the 50 states, the District of Columbia, New York City, Puerto Rico, and the U.S. Virgin Islands, and more than 300 of their affordable housing partners. Hudson served the council previously as secretary-treasurer. His election as vice president came…
Newark Residential Redevelopment Plan Bearing Fruit
Newark, N.J.–Developers in Newark, N.J., are on the verge of completing the first redeveloped residential properties in a larger plan to rehabilitate part of Newark’s West Ward.
Investor Buys New Jersey Apartments for $24M, Plans Redevelopment
New York–Phoenix Realty Group (PRG) has bought 548 distressed rental units for $24.2 million in East Orange, N.J.
Property Tours: Dixon Mills
Kristin Hurd, director of sales at The Residences at Dixon Mills, takes MHN on a tour of the property located at 158 Wayne Street in Jersey City, New Jersey.
$100M Suburban Washington, D.C. TOD on the Road to Realization
Washington, D.C.–While the national apartment market took a nosedive, the market in Silver Spring, Md., held its own, and now a new $100 million project has gotten underway to accommodate increasing demand.
DEAL OF THE DAY: HFF Completes $42M Sale of Institutional-Quality Property
North Lauderdale, Fla.–The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) closed the sale of Parrot’s Landing, a 560-unit multi-housing community in North Lauderdale, Fla.
Interview with Lori Reeves: Green Elements Become Important Component of Design
Forest City CIO Lori Reeves is hooked on IT–there’s always something new to learn
A Sustainable Bottom Line
Improving the performance of existing housing stock makes good environmental and financial sense