Northeast
Adaptive Reuse Student Housing Finished in Philly
Philadelphia–The adaptive reuse redevelopment of part of the former Women’s Medical College of Pennsylvania into new student housing at Philadelphia University has been completed.
AvalonBay Wins Bid to Acquire NJ Hospital Site for Redevelopment
Princeton, N.J.–AvalonBay Communities Inc. has inked a deal to buy the University Medical Center at Princeton from the nonprofit Princeton HealthCare System (PHCS), as well as nine houses that the health-care organization owns nearby.
Moinian Wins Mortgage Extension for 100 John Street
New York–The Moinian Group has obtained an extension of the securitized $84 million mortgage loan on the Renaissance at 100 John Street, the residential portion of a 36-story mixed-use property in downtown Manhattan.
Two Ribbon Cuttings Cap Affordable Housing Effort in Albany
Albany, N.Y.–On Tuesday, July 12, officials of Omni Housing Development attended a pair of ribbon cuttings marking completion of two different affordable apartment renovations in the Albany area.
Related to Preserve, Renovate Affordable Apartment Communities
New York–Keeping families in affordable apartments not only enhances their quality of life, but does a great deal to stabilize neighborhoods. That’s why the recent acquisition, renovation and preservation of the 48-unit New Horizons affordable housing development on West 111th St. in Harlem was cause for rejoicing.
TODAY’S DEALS: CB Richard Ellis Brokers $40.5M Multi-Housing Sale to Home Properties
CB Richard Ellis completes the sale of The Commons at Haynes Farm in Shrewsbury, Mass., and NorthMarq arranges a $33.5 million mortgage on behalf of Prometheus Real Estate Group.
Historic Rhode Island Property Receives Financing for More Apartments
East Providence, R.I.–Rumford Center, the mixed-use redevelopment of a historic mill complex, has obtained $15.5 million to complete the residential aspect.
International Buyers Attracted to Condos in New York and Miami
New York–Two luxury condominiums developed by Africa-Israel USA are attracting international buyers from countries including China, Italy, Brazil, Russia and Singapore.
New Condos Coming to 250 West St. in Tribeca
New York–The early-20th-century building at 250 West St. in Manhattan’s Tribeca neighborhood is in the midst of being reborn as a luxury condominium development.
MARKET SNAPSHOT: New York Experiences Decline in Transaction Volume; New Capital Comes to Market
New York–New York experienced a decline in transaction volume in May, according to Ariel Property Advisors’ Multifamily Month in Review.