Property Types
TODAY’S DEALS: IPA Sells Newly Constructed L.A. Community for $133M
IPA completes the sale of a newly constructed 438-unit property in Los Angeles for $133 million; Tryko picks up a campus of age-restricted properties in West Philadelphia; and GFI sells a rent-stabilized building in Brooklyn for $5.15 million.
Housing Council Changes Name to Reflect Age Requirements
The Irvine-based 50+ Housing Council of the Building Industry Association of Southern California changes its name to accurately reflect its age requirement.
Work Begins on Affordable Seniors Housing in Gurnee
Gurnee, Ill.–Credit Capital L.L.C., together with partner Richman Group, have underwritten a $20.2 million private equity investment to construct an affordable seniors-housing complex.
New Ownership and $2M Upgrade Revitalizes Student Lofts
Atlanta–Cardinal Group’s $2 million renovation has resulted in an about-face for Atlanta’s Westmar Student Lofts, a 368-unit off-campus student-housing community.
HUD Awards $1.9B to Preserve Ailing Public Housing Stock
Washington, D.C.–HUD has awarded more than $1.9 billion to public housing authorities to make large-scale improvements to units very much in need of repair.
TODAY’S DEALS: Cornerstone Acquires $58.6M Mixed-Use Community
Cornerstone acquires a 163-unit mixed-use development in California; NorthMarq secures a $48M refi loan; and Boston Capital invests in the rehabilitation of an affordable housing community in Texas.
Former NYC Brownfield Now Site of Affordable Housing
New York–Developed by three partners working together, the mixed-use, low-income La Terraza rental development has been recognized for its affordable brownfield redevelopment.
TODAY’S DEALS: CBRE Sells Luxury Community in Cincinnati
CB Richard Ellis sells a 231-unit high-rise apartment in Cincinnati; Arbor completes a $40.7 million loan that refinances a 654-unit affordable housing community in Newark, N.J.; and Walker & Dunlop closes $8.6M refinance in Las Vegas.
Keystone Crossing Project Elevates Indy Luxury Rental Market
Flaherty & Collins Properties is transforming one of two Sheraton Hotel towers at I-465 and Keystone Avenue on Indianapolis’ north side into a new high-rise luxury apartment building.
Campus Suites Communities Go to Head of Class
Orlando-based Campus Suites is figuring out that today’s student housing market has a higher expectation built in than it once did.