Northeast
Archstone Commences Construction of 349-Unit Apartment Project in Suburban DC
Gaithersburg, Md.–Archstone is not pulling any punches in the construction of the Archstone Olde Towne development in Gaithersburg.
AFL-CIO Puts $90M into LES Multifamily Development
New York–The AFL-CIO Housing Investment Trust has invested $90 million in the Lands End II property on Manhattan’s Lower East Side, which will allow rental units to remain affordable for low- and moderate-income renters.
Advanced Mixed-Use Project Wins New Jersey State Environmental Award
Jersey City, N.J.–Hoboken Brownstone Company has been honored with a Governor’s New Jersey Environmental Excellence Award for its conversion of a seven-acre brownfield site in Jersey City, N.J. into a progressive, energy-efficient mixed-use property.
DEAL OF THE DAY: CB Richard Ellis Completes $3.6M Sale
Passaic, N.J.–CB Richard Ellis brokered the $3.6 million sale of a multifamily building at 37-47 High Street in Passaic, N.J.
Aimco Energizes Three Philadelphia Properties with New Cogeneration Plants
Philadelphia–With the assistance of a $1 million competitive, matching grant from the State of Pennsylvania’s Green Energy Works! Program, Apartment Investment and Management Company has installed an energy-efficient system that will significantly decrease tenants’ utility bills.
DEAL OF THE DAY: Marcus & Millichap Arranges 80% LTV for $3.3M Fixed-Rate Mortgage
Greensboro, N.C.–Marcus & Millichap arranged a $3,304,000 loan for the acquisition of a 159-unit garden-style multifamily asset in Greensboro.
DEAL OF THE DAY: CBRE Brokers $9.5M Value-Add Transaction in D.C. Area
Oxon Hill, Md.–CB Richard Ellis arranged the sale of Azalea Woods, a 305-unit apartment community located at 1101 Kennebec Street.
DEAL OF THE DAY: Donaldson Group and Equity Partner Buy Value-Add Opportunity from Tarragon
Temple Hills, Md.–The Donaldson Group and Angelo, Gordon & Co. acquired a 459-unit apartment community in Temple Hills, Md. for $38 million in an all-cash transaction.
Peterson and Bozzuto Partner for First National Harbor Apartments
Washington, DC–With the joint venture of The Peterson Companies and The Bozzuto Group, National Harbor will have its first apartment community.
Value Cos. Upgrades, Leases Up North NJ Apartment Complex
Bergen County, NJ–Dorchester Manor, an apartment complex in New Milford, NJ, is nearing a complete lease-up of its 200 apartments.