Regions
CHW Finishes Redevelopment of LA County Affordable Housing
Community HousingWorks has completed work on the redevelopment of the 88-unit Azusa Apartments.
TODAY’S DEALS: Equity Residential Drops $130.2M on Boston Asset
CBRE/New England brokers a Gerding Edlen sale in Boston; Berkadia brokers the sale of a California multifamily property for more than $55.5 million; and Oakwood Worldwide grabs Raleigh corporate apartments.
The Community Development Trust Announces New Leadership Hire
The Community Development Trust (CDT) announced the hiring of a new member to its team: Matt Zarlengo, vice president – debt and equity investments.
Atlantic | Pacific Companies Expands Portfolio in Atlanta
Miami-based Atlantic | Pacific Companies announced its acquisition of two multifamily communities in Atlanta. The newly closed deals bring A|P’s regional reach to 12 multifamily communities within just three years of opening its Atlanta office.
CPC Helps Keep NYC Community Affordable
With funding through Freddie Mac, Community Preservation Corporation has closed on a $40 million loan for the refinancing of Cathedral Parkway Towers. Refinancing helps prevent otherwise unavoidable rent increases that would have resulted from escalating operating costs at the 309-unit Mitchell-Lama project on West 110th Street in New York City.
Economy Watch: Will the Economy’s Continuing Slow Growth Affect Real Estate Development?
Now that a crummy first quarter, at least in terms of U.S. economic growth, has been verified by the preliminary GDP numbers (up a meager 0.2 percent), attention turns to the second quarter.
High-Tech Luxury Living Launches in the Heart of Philadelphia
The new heart of Center City living is officially open for leasing.
Student Apartments in Historic Chicago Structure Trades Hands
JMG Realty Inc. and Empire Square Group have acquired the 482-bed Automatic Loft Apartments in Chicago, a student housing property in the West Loop neighborhood just west of downtown.
TODAY’S DEALS: Portland Micro Unit Asset Lands Mezz Loan
Pembrook Capital Management closes a $6.3 million mezzanine loan; HFF secures $41 million for apartments adjacent to Disney World; and The RADCO Companies acquires an apartment community for $31.2 million.
Community Wins Award for Use of Modular Construction
Guerdon Modular Buildings has won best-in-show in the Modular Building Institute’s 2015 Awards of Distinction for its Domain Apartments, a five-story, 444-unit luxury townhouse-style community in north San Jose, Calif.