Multifamily news in Pittsburgh
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Pittsburgh STEM Growth Drives Rental Market
A diverse and balanced economy has begun to slow the region’s population decline, underpinning multifamily demand. An increasing number of young professionals have begun to call Pittsburgh their home.
15 January 2019 13:05 -
Solomon Org. Expands Pittsburgh Holdings
Siara Management sold the 308-unit Class B property in Moon Township, Pa. M&T Bank provided the new owner with a 15-year acquisition and development loan.
04 January 2019 06:46 -
Carnegie Mellon Purchases Pittsburgh Community
A private investor traded the 78-unit multifamily property for $17 million. The new owner plans to renovate the building and repurpose it as dedicated university housing.
21 November 2018 07:22 -
Vintage School’s New Assignment: Mixed-Income Community
Vacant since 1980, the 122-year-old school building will be transformed by Pittsburgh's housing agency into 35 residential units.
20 November 2018 06:02 -
Affordable Pittsburgh Asset Receives HUD Loan
Maple Ridge, which was acquired by Telesis Corp. this spring, is a 91-unit Class C rental property located in the East Hills submarket.
19 November 2018 14:00 -
Solomon Org. Acquires Pittsburgh Community for $41M
The buyer financed the acquisition of the 316-unit property with a $32.4 million Freddie Mac loan originated by M&T Bank.
25 October 2018 15:18 -
Pittsburgh Community Changes Hands
The 124-unit Class C property was sold for nearly $5 million. The new owner financed the transaction with a $7.5 million acquisition and development loan.
25 October 2018 15:14 -
Health Care, Technology Drive Growth in Pittsburgh
A recent boost in higher-paying jobs will bolster multifamily demand this year, especially in the metro’s downtown area, which experienced a 24 percent population surge from 2010 to 2017.
04 September 2018 11:11 -
Top 10 Pittsburgh Apartment Owners
The metro's slow-but-steady economic growth is reflected in an insignificant rise in apartment rents and tepid housing demand, with public authorities making up nearly half of the biggest owners.
06 August 2018 16:42 -
PA Retirement Community Completes Affordable Expansion
The $10 million project added 48 rental units for residents 62 and over to the existing Windy Hill Village, which houses 179 people.
25 July 2018 17:24 -
Suburban Pittsburgh Asset Trades for $61M
Buligo Capital and Graycliff Capital acquired Ascent Four Thirty, a 319-unit community in Wexford. The property is currently 94 percent occupied.
12 June 2018 16:13 -
CPC Arranges $11M for PA Asset
Terrain Apartments, formerly a hotel, includes 152 units across 19 buildings. The borrower used Freddie Mac’s Green Advantage program and committed to a 27.8 percent water savings.
21 May 2018 15:32 -
Radnor, Harrison Street Pick Up Pittsburgh Student Housing
The partners acquired the 314-unit high-rise at Duquesne University for $23 million and will modernize the half-century-old community over the course of four summers.
11 May 2018 18:46 -
GMH Capital Partners Opens PA Upscale Asset
The Pendleton at Cranberry Woods is 25 minutes north of downtown Pittsburgh and offers 320 units.
11 April 2018 17:35 -
Pittsburgh’s Growth Spurt
Although underperforming against the U.S. average, the city's multifamily market has stayed relatively stable.
26 March 2018 14:45