Regions
Long-Awaited VA Housing Project Breaks Ground in MD
First announced in 2011, the Perry Point development will bring 75 subsidized, newly renovated and newly constructed units for at-risk and formerly homeless veterans.
Redevelopment of Affordable Housing Begins in Western MA
First Resource Cos. is making extensive renovations at the 173-unit Maple Commons Apartments in downtown Springfield. One improvement includes adding 50 cameras over two city blocks that will be connected directly to the police department.
CIM Expands Chicago Portfolio With 2 Acquisitions
The buildings at Wicker Park offer 96 residential units, 23,000 square feet of street-level retail space and 17,400 square feet of creative office space.
Inland Nabs Suburban Chicago Community
The Commons at Town Center, a six-story, 85-unit multifamily property in Vernon Hills, Ill., was built in 2010 and boasts a 96 percent occupancy.
Bridge Housing Bridges Gap With Bay Area Affordable Community
The company celebrated the completion of the first phase of a mixed-use affordable development and the ground-breaking of the second phase, which will bring 85 adjacent units for low-income seniors.
BHC Breaks Ground on Affordable VA Community
The company is converting the former Citadel of Hope, a Colonial property built in 1923, into apartments for working families. Called The Goodwyn at Union Hill, the asset includes the renovated historic school building, in addition to five new buildings.
Strategic Capital Backs NYC Hudson Square Development
The affiliate of a giant Chinese firm is taking a $140 million equity stake in the project, which will be co-developed by Cape Advisors. Located in Manhattan’s West SoHo enclave, the 280,000-square-foot tower will feature 170 condominium units, ground-floor retail and parking.
The Next Wave in Multifamily: Middle-Market Assets
With multifamily development hitting the brakes in major cities and shy rent growth on the horizon, investors are setting their sights on middle-market assets owned by Baby Boomers. Industry leaders predict that, as this $10 trillion market changes ownership, the largest transfer of properties in the history of real estate will occur.
Stepp Commercial Closes Sale of Long Beach Property
The community traded at a 3.8 percent cap rate and a price per unit of nearly $456,000, a record high for the Belmont Shore area in California.
Greystar Opens CA Luxury Mixed-Use
Access, located in Culver City, includes 115 luxury apartments and 31,240 square feet of retail. The community has been designated LEED Silver.