Northeast
Hamilton Zanze Buys DC-Area Community
The real estate investment firm has acquired The Reserve at Ballenger Creek Apartments, a 204-unit asset in Frederick, Md. Mission Rock Residential has taken over property management.
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales recorded in June 2019 in New York City.
Pennsylvania Student Housing Portfolio Changes Hands
Rittenhouse Realty Advisors arranged the sale of the 44 properties for $21.3 million to a purchaser new to the student housing market.
NYC Moves Forward on $260M Harlem Project
Empire State Development approved a modified plan along with $4.5 million in grants for the redevelopment project, which will include more than 170 affordable and supportive housing units.
New Jersey Luxury Project Receives $60M Construction Loan
Cushman & Wakefield secured the financing for a joint venture of PCD Development and Saber Real Estate Advisors. The loan will be used for the construction of a 421-unit high-end community in Bogota, along the Hackensack River.
Exact Capital Rehabs 19 Buildings in the Bronx
The firm has teamed up with Bronx Shepherd Restoration Corp. to renovate and preserve 333 affordable apartments and four retail spaces across the New York City borough.
Manhattan Affordable Project Lands $223M in Financing
L+M Development Partners, Jonathan Rose Cos. and Acacia Network are developing Sendero Verde, a 100 percent affordable Passive House community in East Harlem.
Boston-Area Community Scores $49M in Affordable Financing
Developer WinnCompanies acquired the 284-unit property, a converted industrial leather tanning complex in Peabody. The deal ensures the apartments will remain accessible to low-income families.
Landlords File Lawsuit Challenging New Rent Laws
As expected, a group of landlords and two trade groups filed a federal lawsuit alleging that the new rent laws in New York violate the Constitution.
CBRE Hires New SVP in Philly
Sam Zell joins the firm from Buligo Capital Partners. In his new role, he will work with the company’s multifamily capital markets team.