Regions
Pennsylvania Apartment Portfolio Wins $70M Refi
A seven-building apartment property portfolio, owned by Reinhold Residential and comprised of properties in Pennsylvania, has obtained refinancing to the tune of $70.2 million. All of the properties have the distinction of being historic structures that have been converted to multifamily rental space.
MARKET SNAPSHOT: Tech Industry Shores up San Francisco’s Prime Market Status
The San Francisco Bay Area remains one of the hottest multifamily markets in the country, with employment in the technology sector serving as a boon for the city’s overall economic climate.
Economy Watch: Investors Return to the Trading Floor
Wall Street was back in business again on Wednesday, despite crippled infrastructure in the equities markets’ hometown.
TIAA-CREF Obtains $92M Loan to Buy DC Apartments
MassCourt East End, a 371-unit apartment property in the Mount Vernon Triangle neighborhood of Washington, D.C., has obtained $92.6 million in acquisition financing. Currently the property is 96 percent leased.
Carrfour Supportive Housing Develops $12M Miami Affordable Housing Community
Carrfour Supportive Housing has joined up with Tacolcy Economic Development Corporation and the Florida Housing Finance Corporation to develop a $12 million affordable community called Parkview Gardens in Miami.
Houston Rental Property Acquisition Facilitated by Berkeley Capital
Berkeley Point Capital LLC recently facilitated Baron Properties’ acquisition of AMLI Towne Square Apartments in Houston.
Economy Watch: Sandy’s Costs Already Being Guessed
Sandy is still vexing parts of the Northeast with wind and rain, but it’s already time for preliminary damage estimates.
ARA Sells 300-Unit Community in North Carolina
ARA, an Atlanta-based investment advisory brokerage firm, recently announced the sale of Ashford Green, a 300-unit community in Charlotte, N.C.
Altman Plans Another Florida Apartment Property
The Altman Cos. has unveiled plans for Altis at Sheridan Village, a 300-unit apartment property on 34 acres in western Pembroke Pines in Broward County.
TODAY’S DEALS: Berkeley Point Arranges $28.179M Construction Loan for TDK
Berkeley Point Capital LLC recently facilitated a $28.2M Federal Housing Administration (FHA) insured loan at an interest rate of 2.89 percent; and Alliant Capital closes on a $2.4M acquisition loan.