Regions
Hamilton Zanze Buys Salt Lake City Community
The company plans to upgrade the 256-unit property that it purchased from Peak Capital Partners in an off-market transaction. Mission Rock Residential will manage the property.
Bronx Affordable Property Opens Doors
Gouverneur Place Apartments, a 68-unit development, was constructed through a public-private partnership that included the state of New York and UnitedHealthcare.
Innovative Senior Housing Underway in Contra Costa County
Northern California Presbyterian Homes and Services is developing the first continuing-care retirement community in the area that is part of a larger retail development.
Berkadia Finalizes Transactions in NY, FL
The firm secured financing for an affordable 130-unit property, called Tony Mendez Apartments, in Manhattan and two properties, called Fernwood Grove and Poplar Park Terrace, totaling 293 units in Tampa.
Homeless Housing Project Underway in LA
Affirmed Housing and PATH Ventures broke ground on their third project, a 65-unit community slated for completion in summer 2018.
Bridge Housing Gives Affordable Senior Community a Face-Lift
The company purchased the 100-unit community in 2015 with a view to make capital improvements which ended up totaling $34 million.
Ascend’s Niche 905 Unveiled in Chicago
The 18-story, 202-unit luxury tower featuring an array of lifestyle amenities is located on Near North Side.
Economy Watch: Multifamily Markets Softening
All four indexes of the NMHC’s quarterly survey were below the breakeven level of 50, indicating that U.S. apartment market conditions are softening despite continued strong demand. New supply is finally catching up, and there seems to be more caution among buyers and lenders, noted NMHC Chief Economist Mark Obrinsky.
Historic Brooklyn Building Up for Grabs
Greysteel’s Michael Stimler and Ari Azarbarzin will market the 10-unit 185 Prospect Park W. The property was constructed in 1920 and is located steps away from the 15th Street-Prospect Park subway station.
Now Open: 2017 Top Property Managers Survey
Don’t miss out on the chance to participate in the CPE-MHN 2017 Top Property Managers Survey! The resulting ranking of the firms with the best-managed portfolios will be featured in our special CPE-MHN July/August 2017 print issue and prominently featured on our sites.