Regions
AFL-CIO Housing Investment Trust Gives $41 Million for New St. Paul Mixed-Use Development
The AFL-CIO Housing Investment Trust has committed $41 million of union pension capital to help finance the Penfield, a $62 million mixed-use development in downtown St. Paul.
Florida Multifamily Markets Hotter Than Most
Most multifamily rental markets are tight these days, but the metro markets of Florida have been doing especially well, according to the most recent report on the state by Apartment Realty Advisors Florida.
D.C. Affordable Seniors Housing Completes Renovation
The redevelopment of the Paul Laurence Dunbar Apartments has been completed. The 171-unit seniors housing property, formerly called the Campbell Heights Apartments, is a 40-year-old building on 15th Street NW in the District of Columbia.
$3M Renovation of Las Vegas Building Proves Lucky for Investor
iStar Residential recently invested $3 million in a redesign of The Martin in Las Vegas, and in the four months since the building’s relaunch, sales have risen by 300 percent.
TODAY’S DEALS: Archon Group Executes 1,164-unit Purchase
Archon Group closes on a large portfolio; Charles Dunn Co. brokers the sale of an entitled land parcel in Huntington Beach, Calif.; and Meridian Capital Group negotiates $72.8 million in financings in New York and boroughs.
Luxury Rental Community Breaks Ground in Chicago Suburb
The leafy Chicago commuter suburb of Wheaton is not one of the first places folks would associate with rental housing. Not by a long shot.
Historic Chicago Units Customizable for Residents
Metropolitan Properties of Chicago recently announced that Richelieu Flats, an adaptive reuse of a seven-story building, is part of the historic South Michigan Avenue “streetwall.”
DFW Apartment Market Good for Landlords, Investors–For Now
Even though the Dallas-Fort Worth area never quite suffered the housing slump that many other U.S. markets did, the area’s relatively robust economy is creating new households that are tightening the apartment market.
TODAY’S DEALS: HFF Sources $44.5M for Denver Asset
HFF secures financing for a 328-unit asset; a community in Pennsylvania trades for $22.7 million; and Alliance originates a $4.5 million loan at 3.9 percent interest rate.
Olympic Village to Become Residential Community After Games
The Olympics Opening Ceremony is today, but multifamily developers are already looking toward the end of the games. At that point, the Athlete’s Village—the area built up in Olympic Park to house all the athletes—will be turned into a residential community.