L+M Companies, one of the country’s leading affordable and mixed-income housing developers, on Wednesday announced a strategic partnership and significant investment from Sixth Street, a leading global investment firm. The partnership will support L+M’s 40-year track record of development and preservation work in New York and 14 other states and expand its work to additional areas of the country. L+M will remain the majority partner in L+M Companies and its long-term leadership team will remain in place.
L+M Companies, a newly established holding company, comprises L+M Development Partners, L+M Fund Management and LMXD. L+M Companies will be led by Lisa Gomez, Eben Ellertson, Carrie Van Syckel and David Dishy.
“The creation and preservation of affordable housing is a pressing national priority, and L+M is committed to strengthening economically diverse communities decades into the future,” said Van Syckel. “Partnering with a leading investor like Sixth Street creates a powerful foundation for L+M to deliver on our mission and foster transformative, community-driven development that ensures long-term housing solutions for families across the country.”
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
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The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
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