Mid-Atlantic
NHP Foundation Lands $9M Loan for Affordable MD Purchase
National Affordable Housing Trust, in a partnership with Low Income Investment Fund and Morgan Stanley, provided acquisition financing for the 120-unit property.
Thalhimer Begins Next Phase of Richmond Adaptive Reuse Project
The company acquired the 18-acre lot in 2013. City View Marketplace is set to include 161 units and 13,270 square feet of commercial space.
Suburban Pittsburgh Asset Trades for $61M
Buligo Capital and Graycliff Capital acquired Ascent Four Thirty, a 319-unit community in Wexford. The property is currently 94 percent occupied.
Hampton Roads Community Trades for $30M
Robinson Development Group sold the 183-unit property located in Chesapeake, Va. Built in two stages, Cottage Trails at Culpepper Landing came online in 2015.
AHC Starts Work on $100M VA Affordable Project
An outdated property in Arlington will be transformed into a 256-unit community. The redevelopment is expected to be completed in 2020.
FCP Sells Suburban DC Community for $25M
Built in 1968, River Pointe features 170 units and is situated roughly 14 miles south of Washington, D.C. The former owner purchased the property in 2011, as a value-add investment.
JV Buys 240-Unit Baltimore-Area Community for $50M
Morgan Properties and Core Real Estate Partners have acquired Orchard Meadows, located in Ellicott City, as a value-add investment. The community will undergo more than $2 million in upgrades.
Supply Surge Moderates Rent Growth in DC
The metro’s multifamily demand remains strong in the context of a high barrier to homeownership, while a steady influx of high-paying jobs continues to lure residents to the area.
Affordable Housing Project for Veterans Breaks Ground in DC
TD Bank has facilitated a $9.5 million construction loan for an adaptive reuse project built on part of a former military building at the Walter Reed Army Base.
Multifamily REITs to Flourish in Major Metros: Morningstar
According to the company’s latest report, market conditions in the New York City, Boston, Los Angeles, San Francisco and Washington, D.C., metros could have a significant impact on four of the largest REITs over the next two years.