Regions
JV Lands $415M Loan for Manhattan Tower
Douglaston Development brought in Ares Management Corp. as a partner in its 58-story multifamily project just south of Hudson Yards. The building will offer a mix of affordable and market-rate units.
$560M Redevelopment of Storm-Damaged Community Wraps Up in NYC
A joint venture of MDG Design + Construction and Wavecrest Management completed the rehabilitation of a 1,395-unit public housing community in Far Rockaway, Queens. The project is the country’s largest single-site conversion under HUD’s RAD program.
Artisan Capital Group Buys Downtown KC Portfolio
Besides facilitating the sale, HFF arranged a $51.1 million financing which included a $38.8 million Fannie Mae loan and $12.3 million in joint venture equity.
CDT, Southport Financial Services Pay $37M for Central CA Portfolio
Located in tight rental markets in Central Valley, the five affordable housing properties will be preserved for residents at 50 to 60 percent of area median rent/income through 2050.
MHN Poll: Carbon Footprint Legislation
MHN has a new poll! We want to know which of the following measures is your top priority for bringing your communities into compliance, as more cities consider new legislation to reduce multifamily buildings’ carbon footprint.
Berkadia Wraps Las Vegas, DC Metro Deals Worth $92M
The company arranged a $63.2 million refinancing for a 340-unit community in Falls Church, Va., and completed the sales of two multifamily properties totaling 331 units in Nevada.
Luxury Mixed-Use Project Breaks Ground in NY
The 60-unit community is located in the heart of New Rochelle, a suburb of New York City that is in the midst of an ambitious revitalization plan.
Sacramento Multifamily Report – Spring 2019
Limited housing supply and growing demographics continue to put pressure on the metro’s apartment market. Rents rose by 4.6 percent year-over-year through March, well above the national average.
Greystar Takes $72M Construction Financing in Nashville
Northwestern Mutual provided the seven-year mortgage to fund development of the 300-unit high-rise in The Gulch, a hotbed of development activity in the city center.
Wood Partners Breaks Ground on Seattle Community
Located in the historic Columbia City neighborhood, the 243-unit Alta Columbia City marks the company’s third multifamily project in the metro.