Northeast
TODAY’S DEALS: George Smith Partners Secures $70M Cash-Out Refinance for Downtown LA Property
George Smith Partners provided financing for the takeout of a maturing construction debt; and Edgewood Capital supplies $2.15M for acquisition of non-performing loan.
TODAY’S DEALS: Wood Partners JV sells 116-Unit Asset for $50.5M
Intercontinental Real Estate Corp. buys an asset from Wood Partners; NorthMarq Capital arranges $30 million in construction financing for an affordable asset; and HFF closes $14.8 million in permanent financing for a newly-built Massachusetts asset.
Greystone Closes First Freddie Mac Revolving Credit Facility in Seniors Sector
Greystone closes the first Freddie Mac Revolving Credit Facility for the seniors housing sector on behalf of Oakmont Senior Living.
Gebroe-Hammmer Completes $136M in Northern New Jersey Sales
In a testament to just how hot the northern New Jersey investment sales market is, Gebroe-Hammer Associates has closed 27 deals totaling 1,515 units in only two months.
Brooklyn: Sales Prices Up, Number of Sales Down
A quarterly market report by Ideal Properties Group shows that residential sales prices in Brownstone Brooklyn and North Brooklyn increased by more than 13 percent in the fourth quarter of 2013 from the previous year.
NYC Announces New, Expanded Carbon Challenge that Now Includes Multifamily
Spurred by big drops in greenhouse gas emissions, New York City has unveiled new and expanded programs aimed at building efficiency, including an expansion of its Carbon Challenge to include multifamily buildings.
Financing in Place for $278M Brooklyn Mixed-Income Project
A 586-unit mixed-income asset is set to break ground in Downtown Brooklyn now that land, LIHTC and $177.5 million in financing are in place.
JP Morgan Unit Acquires Massachusetts Luxury Apartment for $63.1M
Institutional investors advised by J.P. Morgan Asset Management acquire Reading Commons, a 204-unit luxury apartment community located 10 miles north of Boston in Reading, Mass.
New Boston Fund, Asian CDC Land Financing for Mixed-Income Development in Boston
New Boston Fund and Asian Community Development Corp. land $114.7 million via HFF for a mixed-income development in Boston’s Chinatown.
Tryko Partners Acquires Affordable Housing Community in Pennsylvania
New Jersey-based Tryko Partners acquires an 86-unit affordable housing community in Leechburg, Pa.