Northeast
948 Affordable Units Preserved in the Bronx
LIHC Investment Group, Belveron Partners and Camber Property Group will rehabilitate Stevenson Commons in the New York City borough. The initiative is moving forward through an agreement with the New York City Housing Development Corp.
WinnDevelopment Tapped for $1.6B Boston Project
The Mary Ellen McCormack site will be transformed into a 3,000-unit mixed-income community set to be constructed over four phases.
Ceruzzi Gets Massive Loan for Midtown Manhattan Condos
The company received $300 million for completion of a 72-story building with 124 condos, 7,500 square feet of retail space and a 25-space garage.
JV Wraps Up NYC Mixed-Income Community Makeover
Nelson Management Group and L+M Development Partners have completed a complex, four-year renovation of the 318-unit Promenade Apartments in the Bronx.
Philadelphia Portfolio Lands $35M Refi
Meridian Capital arranged the financing on behalf of Lindy Communities for six buildings. One of the largest properties is the 111-unit Academia Suites.
Capano Residential Nabs DE Community
Merion Realty Partners sold the 231-unit property in Wilmington, Del., after completing a $2 million refurbishment that included the renovation of 84 units.
Manhattan’s Beekman Tower Lands $70M Refi
Meridian Capital Group arranged the 10-year CMBS loan for the 26-story Art Deco building. The property recently underwent a $24.2 million renovation to reposition it as corporate housing.
WinnCos. Eyes $19M Rehab for NJ Affordable Community
The firm plans to make significant interior and exterior upgrades to the newly acquired Bridgeton Villas Apartments, a 156-unit community in Bridgeton, N.J.
RXR to Develop 28-Story Mixed-Use Towers in New Rochelle
Anchors of the New York City suburb’s $4 billion redevelopment plan, the two high-rises will comprise about 700 units between them. City officials are eyeing up to 12 million square feet of new construction.
Lower Average Loan Sizes Are Likely
Rising interest rates have yet to strongly impact the multifamily market, as specialists are confident the market will continue to see healthy fundamentals in the near future. While loan origination volumes are expected to stay up, the average value of credit facilities might dip.