Senior Housing
TODAY’S DEALS: ARA Brokers Sale of Fla. Seniors Community
ARA brokers the sale of a 310-unit seniors housing asset; Preferred Apartment Communities acquires a 216-unit community near Philadelphia; and Cushman & Wakefield handles the $26.4 million transaction of River Pointe at Den Rock.
TODAY’S DEALS: Cushman & Wakefield Sells Boston Area Apartment for $7.8M
Cushman & Wakefield brokers sale of 32-unit apartment near Boston; Boston Capital invests in to-be-built Texas affordable seniors housing; and Walker & Dunlop advances $21 million Freddie Mac CME loan for a just-stabilized property.
Bridge Housing Breaks Ground on Sacramento Affordable Housing
Sacramento–Bridge Housing, a nonprofit affordable housing specialist, has broken ground for Foothill Farms Senior Apartments in Sacramento. The property will feature 138 affordable apartments and community space in four buildings, with a slated completion in July 2012.
TODAY’S DEALS: Raintree Partners Acquires 270-Unit Property in Burbank for $43M
Raintree Partners aquires a 270-unit Burbank property in Burbank, Calif.; Red Capital Markets provides $19M in tax credit equity; and Oak Grove Capital recently originated $20.7 million for two seniors housing communities.
East St. Louis Housing Authority Closes New Markets Tax Credit Deal
East St. Louis, Ill.–The East St. Louis Housing Authority has closed a complex and novel NMTC transaction that will fund the mixed-use Jazz @ Walter Circle project.
‘The Accidental Economist’ with Jack Kern: 60 Is the New 60
This booming cluster of future renters–seniors–is becoming a more important force in property management, and yet we still see the focus on Gen Y.
Ground Breaks on $14M Upscale Rental Retirement Community in Florida
Melbourne, Fla.–Work has gotten underway on Sonata at Melbourne, a 127-residence rental retirement community that will help fulfill a need for seniors housing.
TODAY’S DEALS: HFF Closes $42.8M Atlanta Sale
Holliday Fenoglio Fowler closes a 301-unit apartment sale in Atlanta; Marcus & Millichap sells an 84-unit assisted living facility in Louisiana; and Hendricks & Partners Brokers sale of townhomes at 5.13% cap.
Del Webb Makes Solar Power Standard at River Pointe in N.J.
At River Pointe, a housing community catering to the 55 and older crowd, residents are embracing a decision made by developer Del Webb to make solar power standard.
Historic Property in Maine to Become Affordable Seniors Housing
Lewiston, Maine–After having been vacant for about six years, the historic 81 Ash St. in Lewiston will be converted into an affordable 32-unit multifamily residence for seniors.