Northeast
FHLB Awards $10M in Funding for New England Affordable Housing Initiatives
Boston–The Federal Home Loan Bank of Boston has unveiled a variety of funding initiatives to promote affordable housing in Connecticut and Rhode Island.
Hoboken Brownstone Donates Riverfront Park to City of Hoboken
Hoboken, N.J.–Hoboken Brownstone Company’s socially conscious endeavors along New Jersey’s Hudson River Gold Coast continue with its recent gifting of the 13.5-acre Maxwell Park in Hoboken.
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.