Regions
Work Begins on Seniors Housing in Suburban Rochester
Ground has been broken on Long Pond Senior Housing, an affordable supportive seniors housing development in the town of Greece, a suburb of Rochester, N.Y. When the first phase is complete, the property will include 54 one- and two-bedroom units.
TODAY’S DEALS: Veritas Urban Properties Lands $7.5M for San Diego Development
HFF arranges $7.5 for a 36-unit development in San Diego; NorthMarq secures $23.2 million for a RADCO acquisition in Colorado; and Equicap arranged an $18 million condo construction loan in New York.
Economy Watch: GSEs to Ease Lending Standards
Though recovered from its worst days during the recession, it’s generally acknowledged that the U.S. housing market hasn’t recovered as much as it could have, especially compared with other post-recession periods.
AHP Grant Targeted for El Campo Apartment Renovations
National Church Residences was awarded a $259,000 Affordable Housing Program grant from Wells Fargo and the Federal Home Loan Bank of Dallas to renovate the Prairie Village Apartments, a 38-unit community serving low-income seniors in El Campo, Texas.
Pennrose’s Mark Dambly Elected to PAA East Board of Directors
Mark Dambly, president, Pennrose Properties, has been elected to the 2015 board of directors of the Pennsylvania Apartment Association East.
Vesta Plans Redevelopment of DC Apartments
Vesta Corp. has unveiled plans to completely redevelop Highland Terrance Apartments, a 124-unit multifamily property formerly known as the Gregory Apartments. The apartment community is in the southeast region of Washington, D.C.
Brian P. Brooks Appointed Executive Vice President, General Counsel, and Corporate Secretary
Fannie Mae announced it has appointed Brian P. Brooks, 45, as executive vice president, general counsel and corporate secretary effective November 10.
WinnCompanies Tapped for Management Responsibilities at Lumiere
Criterion Development Partners has selected WinnResidential to oversee management of its new Medford, Mass., property, Lumiere.
TODAY’S DEALS: Atlas Residential Completes Largest Orlando Apartment Acquisition Year-to-Date
CBRE brokers the largest transaction in Orlando for 2014; ARA closes the sale of a luxury community in Palm Beach County to a joint venture between AIMS Real Estate and Carroll Organization; and Cohen Financial secures $12.6 million in joint venture equity for a Florida development.
Greater Newark Housing Partnership to Create New Affordable Units
Two dozen new affordable and supportive apartments are coming to Newark’s Fairmount Heights neighborhood.