Northeast
Partners Buy Hurricane Sandy-Affected Apartments, Plan Rehab
The Community Development Trust, a private REIT that provides capital for the preservation of affordable housing, has partnered with Proto Property Services to buy and rehab Ocean Towers in the Coney Island section of Brooklyn.
Chelsea Apartments Sell for $15.9 Million
Two mixed-use buildings on the west side of Eighth Avenue between West 20th and 21st Streets in Manhattan have traded hands for $15.9 million.
Maplewood Readies Connecticut Site for Seniors Development
Maplewood Senior Living has closed on a six-acre development site in Bethel, Conn., for an assisted living and memory care facility.
South Orange Mixed-Use Property Under Way
Ground has been broken for The Gateway, a mixed-use property in South Orange, N.J. The development will include 57 one- and two-bedroom apartment units, as well as about 9,100 square feet of high-end retail space.
Mill Creek Residential Breaks Ground on Luxury N.J. Community
Mill Creek Residential Trust announced that it has broken ground on Phase I of Latitude, a luxury community in Morristown, N.J., as part of the redevelopment of Speedwell Avenue. This is the first residential development in four years in the area.
Greystone Welcomes Andrew Warren to Affordable Housing Preservation Group
Greystone, a financial services and real estate firm, has announced the addition of Andrew Warren to the firm’s affordable housing preservation division as director of investments.
Campus Advantage Celebrates Ongoing Success by Adding Seven Properties
Campus Advantage’s current Fall 2013 lease-up rates are 6 percent higher than at the same time last year. The company announced in January a second, $75 million joint venture with the California State Teachers’ Retirement System.
Freddie Mac Approves Greystone as Designated Seniors Housing Seller/Servicer
Greystone, a national provider of multifamily and healthcare mortgage loans, today announced that it has been approved as a National Senior Housing Seller/Servicer by Freddie Mac to originate and service multifamily seniors housing loans nationwide.
L+M founders to be honored by Greyston Foundation
Sandy Loewentheil and Ron Moelis, co-founders of L+M Development Partners (L+M), will be honored by The Greyston Foundation, a pioneer in social enterprise that creates jobs and provides integrated programs that move individuals toward self-sufficiency, at its 2013 Annual Benefit on May 22.