NorthStar Announces $95M Sale of Assisted Living P/F

NorthStar Realty Finance Corp. sold 18 assisted living facilities, containing approximately 1,300 beds, located in North Carolina to a private investor group for $95 million.

AFI USA Completes $267M Refi of Times Square Building

AFI USA, a subsidiary of Africa Israel, has completed a five-year refinancing of the Times Square Building for about $267 million, plus access to a revolving line of credit from Banco Inbursa SA that will enable the owners to execute a comprehensive repurposing and revitalization of the property. Five Mile Capital Partners LLC will convert its existing debt to equity to become a 50 percent equity partner in the property.

CBRE Brokers $52.5M Sale of 3 Apartments by Principal Financial

CB Richard Ellis has announced it arranged the sale and financing of a three-property portfolio of multi-housing communities located in Richmond’s West End.

CAS Financial Recaps Largest Affordable Housing Property

CAS Financial Advisory Services (CAS FAS) recently completed the recapitalization and preservation of Starrett City in Brooklyn, N.Y.

New Sales Team Increases Contract Signings at Brooklyn Condominium

Since joining One Brooklyn Bridge Park as its exclusive sales and marketing firm two months ago, The Developers Group, has signed 14 new contracts and has more than 20 contracts out or in negotiations.

HDC, UNHP Celebrate Renovation of Rose Hill Apartments

NYC Development Corporation (HDC) and University Neighborhood Housing Program Inc. (UNHP) recently celebrated the grand opening of Rose Hill Apartments, a 119-unit building originally constructed in 1984 to serve low-income elderly residents.

White Plains’ Energy-Efficient Property Celebrates Opening

Community Housing Innovations (CHI) recently hosted a ribbon-cutting ceremony for Minerva Place Condominiums, a 14-unit workforce housing community and reportedly the city’s most energy-efficient residences.

Construction Resumes at Brooklyn Condominium

Construction has resumed at [email protected], Jamestown Properties and SDS Procida’s 246-unit condominium. Sales are expected to re-launch in spring 2010.

CPC Closes $2.16M Permanent Loan to Refinance 3-Story Rental Building

New York–The Community Preservation Corporation (CPC) recently closed on a $2.16 million permanent loan to refinance a newly constructed three-story rental building in the Parkville section of Brooklyn.

The property, located at 315 Foster Ave. between Seton Place and East 5th St., features nine, 1,005-square-foot two-bedroom units each with two bathrooms, separate dining areas, radiant heat and modern kitchens with granite countertops, hardwood floors and stainless steel appliances. Market rents are affordable to families at 110 percent of Area Median Income.

Somerville Landfill Redevelopment Project Receives BDA Designation from N.J. Department of Environmental Protection

Whitman, one of New Jersey’s leading environmental and engineering management firms, has announced that the Somerville landfill redevelopment project has been designated a Brownfield Development Area (BDA) by the New Jersey Department of Environmental Protection (NJDEP).