Regions
TODAY’S DEALS: TreeTop Development Enters Pennsylvania Market
TreeTop Development enters the Pennsylvania market with the purchase of a 70-unit asset; Ariel Property Advisors closes the sale of a development site in Manhattan; and KeyBank provides $28.6 million in Freddie Mac funding for assisted living refinances.
Condo Property in NW Sububan Chicago Tries Rent-to-Own
The Heritage of Palatine, a new condominium development in downtown Palatine, a northwestern suburb of Chicago, has started a rent-with-option-to-buy program on a handful of its remaining units.
MHN Interview: Steven Zimmer, Former Head of the Newhall Ranch Specific Plan
Real estate attorney Steven Zimmer, former head of the Newhall Ranch Specific Plan, talks about the controversial development project and the difficulties of being both an attorney and a real estate developer.
Azure Caters to Upper East Side’s Big Appetite
Size does matter, or that’s what buyers are intimating on Manhattan’s Upper East Side, and Azure is giving the people what they want.
Red Hook Homes Brings Affordable Units to Brooklyn Neighborhood
Red Hook is rebounding, as evidenced by the grand opening of Red Hook Homes. The $18 million co-op brings the community 60 new housing units, 40 of them affordable, and another 20 market-rate and middle-income units.
TODAY’S DEALS: HFF Secures $34M Refi for SoCal Asset
HFF secures a $34 million refinance for a 306-unit community; Beech Street Capital provides $40 million in financing for a Baltimore-area portfolio; and Essex brokers sale of mixed-use property for $1.6 million.
First Smoke-Free Residential Building on Manhattan’s West Side
Residents of Manhattan’s West Side can now breathe a little easier. Equity Residential recently announced that Ten23, Chelsea’s first smoke-free apartment, is open for leasing.
NMHC Reports Upswing in Multifamily Construction
The National Multi Housing Council’s latest Quarterly Survey of Apartment Market Conditions reports that increased demand for rental housing has led to a considerable uptick in multifamily construction.
MARKET SNAPSHOT: Manhattan Accounts for 80 Percent of New York City’s Transaction Volume
New York–Apartment transactions in New York totaled 115 during the third quarter of 2011, according to Ariel Property Advisors’ most recent Multifamily Quarter in Review: New York City.
TODAY’S DEALS: Centerline Provides $328M Structure to Finance Portfolio in Suburban Washington, D.C.
Centerline provides a $328 million Freddie Mac CME loan to finance portfolio of eight properties; Campus Crest Communities announced four new developments; and Beech Street closes $12.5 million for two communities in Southern California.