News
PCCP Provides $65M Refi on Long Island City Apartments
PCCP recently provided a $65-million senior loan to an ownership group managed by L+M Development Partners for the refinance of Pearson Court Square, a 197-unit, Class A apartment building located at 40-50 Pearson St. in Long Island City. Built in 2014, the mid-rise property is 98% occupied. Terms of the loan were not disclosed. “PCCP is pleased...
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Rockland Trust Lends $31M for Oak Bluffs Mixed-Income Rentals
The nonprofit Island Housing Trust and joint venture partner Affirmative Investments Inc. secured $31 million from Rockland Trust for the construction of Tackenash Knoll, a 60-unit affordable housing neighborhood coming to Oak Bluffs on Martha’s Vineyard in May 2027. “Affirmative Investments, Inc. is excited to continue our strong relationship with Rockland Trust, Island Housing Trust,...
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Boston Issues Annual RFP for Affordable Housing Development
The City of Boston has issued its annual Request for Proposals (RFP) for affordable housing, providing $40 million to support the creation and preservation of affordable housing across the city. This year’s funding is available to nonprofit and for-profit developers for rental, cooperative and supportive housing projects. “This $40-million investment will enable us to support...
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Berkadia Lands Financing for Naples Rental Property Sale
Berkadia secured financing for Interface Properties’ acquisition of Wild Pines of Naples, a 200-unit apartment community with 100 income-restricted affordable units in Naples, Florida. Mitch Sinberg, Michael Basinski, Scott Wadler, Brad Williamson and Matt Robbins aided the sponsors in assuming a $20.62 million senior loan and secured an additional $6 million supplemental through Freddie Mac,...
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Clarion, Cortland Offload Boca Raton Apartments for $152.5M
Clarion Partners and Cortland sold a 384-unit Boca Raton apartment complex for $152.5 million, or nearly $400,000 a unit. The investment arm of the Church of Jesus Christ of Latter-day Saints was the buyer. The South Florida Business Journal reports the apartment complex at 7801 N. Federal Highway last sold for $120.84 million in 2019. Del Ola,...
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George Smith Partners’ Matt Hiller Assesses Growth Outlook at Connect’s Upcoming Texas Multifamily Event in Dallas
Texas is still in the midst of a population boom, with the state adding over 2 million new residents since 2020. Those new residents are going to need a place to live. And that fact is not lost on investors and developers of multifamily communities. At the upcoming Connect Texas Multifamily event (Thursday, August 28th), leading industry...
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Prairie Provinces, Quebec Multi-Res Projects Drive Increase in Canadian Housing Starts
Housing starts in Canada rose 4% year-over-year in July, with 23,464 units recorded in centres of 10,000 people or more, up from 22,610 a year earlier, according to the Canada Mortgage and Housing Corporation (CMHC). The year-to-date total reached 137,875, also a 4% increase from the same period in 2024. The seasonally adjusted annual rate...
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Veris Divests Park Ridge Apartments for $117M
A team led by Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, and Travis Langer of CBRE Institutional Properties, in partnership with Roland Merchant and Tom Pryor of CBRE’s Investment Banking team, closed the sale of The James, a Class A multifamily community in Park Ridge, NJ. CBRE advised the owner, Veris Residential, on the $117-million sale....
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout