Northeast
DEAL OF THE DAY: Walker & Dunlop Closes $26.1M Partial Interest-Only Acquisition Loan
Lakeland, Fla.–Walker & Dunlop provided a $26,100,000 acquisition loan for Victoria Manor Apartments.
MARKET SNAPSHOT: Larger Units in Manhattan Experienced Greatest Rent Growth
New York–The Real Estate Group NY (TREGNY)’s December Manhattan Rental Market Report showed a market more driven by the economy than the season.
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.