Cottages of Fall Creek Apartments

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    An affiliate of Birge & Held Asset Management acquired the asset from Gene B. Glick Co., the Indianapolis-based developer that built the property in two phases between 1980 and 1987.

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    The company worked with Fannie Mae and New York Mortgage Trust Inc. to secure financing for Concordia Properties, which purchased Autumn Park, a 360-unit community.

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    JP Morgan arranged the construction loan for Town Southern, located in Royal Palm Beach. The 392-unit community is scheduled for completion in 2018.

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    The bank provided a $9.1 million construction loan and purchased $12.0 million in federal tax credits. The money will be used to redevelop a nursing home into a 60-unit affordable housing project for seniors.

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    Director Mark Joseph and Project Manager Taryn Gress of the National Initiative on Mixed-Income Communities shared their research on the mixed-income housing strategy.

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    The company acquired The Washingtons, a 182-unit community in Melrose, Mass. JLL’s capital markets team brokered the deal.

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    The average price per square foot for all property types came to $207,000 in the second quarter of 2017, with CBD Office commanding the highest value at $397,000.

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    The community, developed by Altus Properties and Copaken Brooks, features design elements intended to make the building instantly recognizable in Kansas City and beyond.

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