Multifamily news in Pittsburgh

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.
Student Housing
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.
Affordable
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.
Affordable

  • 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

  • PA Community Receives $9M Freddie Mac Loan

    The borrower used the current loan to pay off debt service and prepayment penalty, while also recovering trapped equity, which will be reinvested into the apartment community.

    14 March 2018 13:32

  • $16M Senior Housing Community Opens in Pittsburgh

    The 66-unit Hillcrest Residences, which was developed by The Community Builders is located in the Carrick neighborhood.

    19 December 2017 17:29

  • Glasshouse Breaks Ground in Pittsburgh

    Station Square Apartments, located across the river from Pittsburgh's central business district, is slated to feature 319 Class A units and ground-floor retail space.

    18 December 2017 14:51

  • Pittsburgh Reveals Its Strength

    The region’s universities continue to provide a skilled workforce for the technology, robotics, education, health-care and financial sectors, pushing the city’s economy forward and sustaining multifamily demand.

    01 December 2017 17:22

  • Beacon Communities Buys NDC, $250M Portfolio

    The residential development company now owns National Development Corp. and its 59 properties, most of which are affordable communities. The portfolio is valued at more than $250 million and expands Beacon’s portfolio to 14 states.

    02 October 2017 21:01