News
IHP, Intracorp to Develop Alhambra Residential Project
IHP Capital Partners and Intracorp Homes formed a joint venture to acquire a two-acre infill site in Alhambra to develop The Cordova, a new 49-home residential community. The community will feature nine detached homes and 40 townhomes, 10 of which will be affordable units. Site development is underway, with vertical construction expected to begin in September....
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JV Will Focus on NJ Residential Projects
Black Bear Asset Management (BBAM), Bettina Equities Management and Echevarria Industries have formed a joint venture to invest up to $125 million in residential development projects throughout New Jersey, with a primary focus in North Bergen, Guttenberg and West New York. The venture has already acquired three projects with a total capitalization of $65 million and in various stages of development. The...
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Mixed-Income Chicopee Housing Secures Public and Private Financing
MassHousing has closed on $37.3 million in affordable housing financing to the joint venture of Sydney Capital Group LLC and Brisa Builders Development LLC to develop Singing Bridge Residences on a vacant parcel adjacent to the Chicopee River in Chicopee, MA. Other financing comes from $31.6 million in housing tax credits, $29.4 million in construction financing from Citizens Bank and $900,000 in...
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Fully Entitled Development Site Trades in San Rafael
Berkadia closed the sale of 703 Third St., a half-acre property entitled for up to 120 multifamily units in San Rafael. The property sold to a confidential buyer for an undisclosed sum. Senior managing director Brett Betzler of Berkadia Irvine, and Senior Director Kaohu Berg-Hee, Senior Managing Director Jason Parr and Managing director Scott MacDonald of Berkadia...
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San Francisco Multifamily: Where the Demand Drivers Are
By Jack Markey, Matthews Real Estate Investment Services Market Overview Multifamily demand increased throughout San Francisco, due to a population influx that added more renters to the market. New residents have flocked here for growing tech employment opportunities, as well as the latest efforts by the City of San Francisco to improve safety concerns in...
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Essex Realty Completes Sale of Melrose Park Portfolio
Chicago-based multifamily brokerage firm Essex Realty Group has completed the sale of a 105-unit apartment portfolio located in the Chicago suburb of Melrose Park for $8.9 million. The transaction was facilitated by Essex Principal Brian Karmowski, who represented the seller, and Essex Director Abe Eilian, who represented the buyer. The portfolio is comprised of seven...
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Luxury Townhome Community in Pennsylvania Opens
Stonemill Village, located at 5 Grayson Lane in Downingtown, Pennsylvania, has opened. The community features 89 two-story townhomes ranging from 1,825 to over 2,114 square feet. The property offers easy access to shopping, dining, recreation, and major highways. “We are excited to offer our signature build-to-order homes as well as beautiful quick move-in homes at...
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Adams Commits $24.7B to Affordable Housing Over 10 Years
Mayor Eric Adams said Monday that his administration will allocate $24.7 billion toward affordable housing through the city’s 10-Year Capital Plan, including a $1-billion commitment for housing as part of the “City of Yes for Housing Opportunity” initiative. Further, New York City will invest an additional $350 million in the Permanent Affordability Commitment Together and New...
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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