Northeast
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.
Boston-Area Affordable Development Lands $23M Loan
The financing includes funds from MassHousing’s $100 million Workforce Housing Initiative. Just-A-Start intends to create 23 new apartments and preserve 65 units for low-income residents in Cambridge.
Harbor Group Buys Brooklyn Community for $117M
The 193-unit rental property, named The Frederick, was built in 2017 and is located in the popular Crown Heights neighborhood.
Brooklyn Multifamily Report – Summer 2019
The borough’s apartment supply and demand remained in relative balance amid New York City’s new rent regulations.
Equity Residential Makes $165M Boston Sale
ING Group provided LaSalle Investment Management and Jefferson Apartment Group with more than $104 million in acquisition financing for a rental community in the city’s Fenway-Kenmore neighborhood.