Northeast
Centerline Capital Group Officially Renamed Hunt Mortgage Group
Centerline Capital Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, announced that it has been renamed Hunt Mortgage Group, completing the firm’s transition to Hunt Companies Inc.
Pennrose Properties Opens Heritage at Alexander Hamilton in N.J.
A ribbon-cutting ceremony has officially unveiled Phase III of the long-awaited Heritage at Alexander Hamilton in Paterson, N.J. The new affordable housing lifestyle community was developed by Pennrose Properties, in partnership with the Housing Authority of the City of Paterson.
TODAY’S DEALS: Kislak Completes $136M Multifamily Property Sale–Largest in New Jersey Since ‘11
The Kislak Co. Inc. announced the $136 million sale of Rachel Gardens, a 764-unit apartment community on more than 98 acres in the Pine Brook section of Montville, N.J.; and NorthMarq Capital supplies a $10.6 million refinance for a Chicago redevelopment.
Michaels Organization Educational Foundation Awards $500K
The Michaels Organization Educational Foundation has announced its scholarship distributions for 2014. The foundation gives college scholarships each year to aspiring students who live in the properties owned or managed by the companies.
Montroy Andersen DeMarco Hires David J. Stuart, AIA as Studio Director
David J. Stuart, AIA has joined the prominent New York City architecture, design, and planning firm of Montroy Andersen DeMarco (MADGI) as studio director.
TODAY’S DEALS: HFF Arranges $95M Construction Loan for Hi-Rise in Reston, Va.
HFF arranged a bank construction loan of $95 million for the development of BLVD at Reston Station; and Red Mortgage funds a $31M FHA supplemental loan for a new construction.
National Development Begins Construction on 83-Unit Boston Luxury Development
National Development has started construction on SEPIA at Ink Block, an 83-unit luxury condominium that is part of a planned six-building, mixed-use development in Boston’s South End.
Greystone Launches Seniors Housing Investment Sales and Advisory Group
Greystone, a national provider of multifamily and healthcare mortgage loans, announced it has launched a seniors housing real estate sales and investment advisory group through the acquisition of the ARA National Seniors Housing Group from ARA National Seniors Housing Group Ltd.
NYSERDA Partnership to Boost Financing for Clean Energy Projects in NY
The New York State Energy Research and Development Authority has announced a partnership with the Energy Improvement Corporation that will enable Commercial Property Assessed Clean Energy financing to direct low-cost capital toward multifamily and business projects across the state.
Lennar Opens Condos in Master Planned Port Imperial in NJ
1000 Avenue at Port Imperial, a condo building on the Hudson River waterfront in Weehawken, N.J., has opened.