Northeast
AIMCO Extends Philly Footprint With $445M Portfolio Buy
The company acquired six communities in the metro with a total of 1,116 units from Dranoff Properties. The deal is expected to close in the second quarter of this year, except for the purchase of one property that is expected to close in the first half of 2019.
Manhattan Condo Project Secures $72M
Highline Development Group’s property, 550 W. 29th Street, includes 19 units and more than 5,000 square feet of retail or gallery space.
Pennrose Debuts NJ Senior Redevelopment
The 62-unit independent living community is a $25 million adaptive reuse and historic renovation and adaptive reuse of the Roosevelt hospital, built in 1937.
Manhattan Luxury Condos Land $155M Financing
Sumaida + Khurana and LENY’s 35-story project will be the award-winning architect Alvaro Siza’s first U.S. development and will include 83 highly amenitized units.
On the Market: 5 Interesting Listings for the Week of 4/9
This week’s listings include a mixed-use investment opportunity on Manhattan’s Upper West Side and a newly renovated community in the Denver metropolitan area.
Asset Campus to Manage NY Community
The Brock is situated two blocks from SUNY Brockport University and offers one-, two-, three- and four-bedroom units across a three-story building.
GMH Capital Partners Opens PA Upscale Asset
The Pendleton at Cranberry Woods is 25 minutes north of downtown Pittsburgh and offers 320 units.
Harbor Goup Sells $25M MD Community
Annen Woods is located near the Baltimore Beltway and includes 131 units across 11 three-story buildings. The new owner is planning to upgrade 90 apartments and several common-area amenities.
Tishman Speyer to Develop 480-Unit Brooklyn Tower
The luxury community 11 Hoyt, the company’s first ground-up New York City condo project, will feature 190 floorplans and on-site parking.
Boston Financial Closes $145M LIHTC Fund
The financing covers properties in 11 states, and includes 2,800 units of affordable housing for 11 multifamily and six senior communities.