Northeast
Pittsburgh Multifamily Report – Spring 2021
During a recent 12-month stretch, the metro’s rent growth rate has roughly mirrored the national average.
Ares Lands $78M Refi for New York Community
The owner will use the loan proceeds to retire $66 million in CMBS debt and continue rehabilitation of the partially affordable asset in Westchester County.
Slate, RiseBoro Partner on Affordable Brooklyn Project
The developers plan to reserve the majority of the 215 units as supportive housing.
Adaptive Reuse Self Storage Facility Opens in Baltimore Suburb
The abandoned industrial building has been converted into a net-zero energy facility with two floors of drive-up access units.
RHP Buys Pennsylvania MHC
The $7 million acquisition brings the company’s portfolio of manufactured housing communities to 299 nationwide.
Metro Storage Expands New Jersey Footprint
PNC Bank provided $12 million in financing for the development of the newly completed facility.
Common Tapped to Manage NYC Co-Living Units
Simon Baron Development chose the operating firm to manage 419 beds at one of the largest co-living buildings in the country.
Berkley Properties Secures $21M Refi for New York Community
The property last changed hands in 2016 and has since undergone $2 million worth of upgrades.
Naftali Group Secures $103M Loan for Manhattan Condos
The financing will be used to develop a 13-story mixed-use property on the Upper East Side.
Adaptive Reuse Project Lands $17M Loan in Providence
With help from Berkadia, the owner of a former mill turned into loft-style residences has obtained HUD 223(f) financing.