Regions
The Senior Housing Boom’s Ripple Effect
Assisted living occupancy fell to its lowest in eight years, despite record absorption, according to NIC’s 2017 second quarter report. San Jose had the highest occupancy, while Detroit recorded the biggest rent growth.
Jersey Asset Commands $147M Refi
New York Life originated a 10-year loan on behalf of Sterling Properties. The asset is located in a northern New Jersey market with high barriers to entry.
Pathfinder Expands Portland-Area Footprint with Sixth Acquisition
The company purchased The Habitat, an 85-unit community previously owned by Fowler Property Acquisitions. Cody Hagerman and Greg Fink of Portland-based HFO Investment Real Estate brokered the $15 million transaction.
Master Plan Brings Green to SoCal Desert
Family Development and Presidio Residential Capital have received the go-ahead for a 660-acre development in Riverside County, Calif. Comprising apartments, condominiums, townhomes and single-family homes, the project would be the first of its kind in the Coachella Valley.
L.A. Portfolio Refinanced for $550M
In the largest deal to date for Fannie Mae’s Green Rewards program, Walker & Dunlop structured loans for four Los Angeles-area communities owned by Douglas Emmett Inc.
948 Affordable Units Preserved in the Bronx
LIHC Investment Group, Belveron Partners and Camber Property Group will rehabilitate Stevenson Commons in the New York City borough. The initiative is moving forward through an agreement with the New York City Housing Development Corp.
Tucson Community Trades for $38M
ROC Senior Living acquired Mission Palms from Stoneweg US. The property’s value rose by 46 percent since the last time it traded in 2013.
WinnDevelopment Tapped for $1.6B Boston Project
The Mary Ellen McCormack site will be transformed into a 3,000-unit mixed-income community set to be constructed over four phases.
Regulatory Reboot: Tax Reform, Finance Top Industry’s Policy Agenda
During the second half of 2017, the multifamily sector will face a far-reaching set of legislative and regulatory issues—some brand new, others perennial subjects of advocacy.
ABI Brokers Sale of 2 Phoenix Communities
The company has arranged the disposition of the 51-unit New Horizons Apartments and the 27-unit Country Club Apartments.