Mid-Atlantic
Affordable Homes Break Ground in D.C.’s Mount Pleasant Community
Dignitaries congregated this week in the Mount Pleasant neighborhood of Washington, D.C., to celebrate the groundbreaking of Monsenor Romero Apartments. The $19 million affordable community, which will feature 63 units, will rise at the site once occupied by the Deauville apartments.
Energy-Oriented Financing Complete for D.C. Apartments
Urban Energy Advisors has completed Property Assessed Clean Energy (PACE) financing for a 139-unit affordable apartment property in Washington, D.C., totaling $340,000.
Maryland Office Building to Become Apartment Community
A five-story office building at 11411 Georgia Ave. in Wheaton, Md. is being redeveloped as an apartment building.
UIPGC Completes $4.5M Renovations on D.C. Community
UIP General Contracting recently completed a $4.5 million renovation on a six-building garden-style community called Takoma Flats.
Walker & Dunlop Honored with Top Awards by Fannie Mae
Walker & Dunlop, Inc. announced that it received two top awards at the 2013 Fannie Mae DUS® Meeting in Washington, D.C., for deals closed in 2012.
MARKET SNAPSHOT: Vacancy Continues to Fall Despite Stagnant Employment Growth in D.C.
Even as government spending cuts and other factors continue to limit job growth across the nation’s capital, multifamily occupancy has remained tight.
Berkeley Point Capital Expands Seniors Origination Team with the Hiring of Philip Hoffman
Philip Hoffman recently joined Berkeley Point Capital LLC as director, seniors and healthcare loan originations.
Beech Street Capital Provides $49.5M in Acquisition Financing
Beech Street Capital LLC announced that it has closed on a $49.5 million Freddie Mac CME loan to acquire a 409-unit multifamily community in Woodbridge, Va. Beech Street Capital, as part of its relationship with Meridian Capital Group LLC, financed the transaction.
MAA Buys Second Apartment Community in Fredericksburg
MAA has completed its acquisition of Station Square at Cosner’s Corner, a 260-unit apartment property in Fredericksburg, Va., for an undisclosed price. The seller was the property’s developer, Johnson Development Associates, and includes an undeveloped parcel.
Suburban D.C. Apartments Slated for $8M Renovation
Work has started on an $8 million renovation of the Overlook Apartments in Hyattsville, Md.