Regions
Healthcare Reform Bill Already Changing Seniors Housing Development Dynamics
Passage of healthcare reform has already altered dynamics in commercial real estate’s senior housing sector.
AFL-CIO Puts $90M into LES Multifamily Development
New York–The AFL-CIO Housing Investment Trust has invested $90 million in the Lands End II property on Manhattan’s Lower East Side, which will allow rental units to remain affordable for low- and moderate-income renters.
DEAL OF THE DAY: Colliers Witnesses Intense Competition for $34,228/Unit Sale of Lender-Owned Property
Phoenix–Colliers International has negotiated the sale of the Biltmore Center apartment community.
DEAL OF THE DAY: NorthMarq Arranges $20.25M Mortgage in ‘Broken Condo’ Transaction
Oceanside, Calif.–NorthMarq Capital’s Michael Elmore has arranged first mortgage financing of $20.25 million for River Oaks Apartments.
Multifamily Industry to Benefit from Tax Deal
According to NMHC and NAA, there were a number of wins for the multifamily industry in the tax bill passed by Congress and signed by President Obama earlier this month.
Advanced Mixed-Use Project Wins New Jersey State Environmental Award
Jersey City, N.J.–Hoboken Brownstone Company has been honored with a Governor’s New Jersey Environmental Excellence Award for its conversion of a seven-acre brownfield site in Jersey City, N.J. into a progressive, energy-efficient mixed-use property.
DEAL OF THE DAY: Oak Grove Capital Closes $7.2M HUD 223(f) Refinancing Loan
Shakopee, Minn.–Oak Grove Capital provided $7.2 million in funding for White Pines Apartments. The HUD MAP 223(f) refinance was for a repeat borrower.
DEAL OF THE DAY: CB Richard Ellis Completes $3.6M Sale
Passaic, N.J.–CB Richard Ellis brokered the $3.6 million sale of a multifamily building at 37-47 High Street in Passaic, N.J.
Aimco Energizes Three Philadelphia Properties with New Cogeneration Plants
Philadelphia–With the assistance of a $1 million competitive, matching grant from the State of Pennsylvania’s Green Energy Works! Program, Apartment Investment and Management Company has installed an energy-efficient system that will significantly decrease tenants’ utility bills.
Jamboree Breaks Ground on Intergenerational Affordable Housing Project
Claremont, Calif.–Jamboree has broken ground on Courier Place Apartment Homes, which will be a 75-unit, unified apartment community for low-income seniors and working families.