The 234 Apartment

TORONTO / DALLAS, TX, Oct. 30, 2014 (Canada NewsWire via COMTEX) -- Milestone Apartments Real Estate Investment Trust (MST.UN) ("Milestone" or the "REIT") today announced that it has completed the purchase of Villas at Shadow Creek ("Shadow Creek" or the "Property"), a 560- unit multifamily apartment community located in the Pearland submarket of Houston, Texas, for a purchase price of US$74.0 million. This acquisition was previously announced by the REIT on September 15, 2014. Shadow Creek was built in two phases in 2006 (296 units) and 2007 (264 units) and is currently approximately 95% occupied, with average monthly rents of approximately US$1,200 per unit. The Property's average in-place rents are higher than the REIT's portfolio average in part due to a higher proportion of two and three- bedroom apartment suites . Shadow Creek has the potential for a value- add program relating to unit interior upgrades . The Property features ...

NEW YORK, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Greystone, a real estate lending , investment and advisory company , today announced its closing of a $550,000, 000 permanent Freddie Mac loan made to joint-venture partners The Moinian Group and SL Green Realty Corp . for Sky Residences (“Sky”), one of Manhattan’s premier mixed-use residential buildings . The Greystone Bassuk debt advisory team , led by Richard Bassuk and Drew Fletcher, represented the Borrower and assisted in obtaining the Freddie Mac loan through Greystone’s Affordable Lending team . The transaction marks the largest-ever single-asset tax- exempt financing completed by Freddie Mac and a first-of-its- kind private placement structure that includes permanent financing for hundreds of affordable housing units in New York City. Steve Rosenberg , CEO of Greystone, together with Billy Posey, Joe Mosley, and Jeff Englund, collaborated with Freddie Mac on the structure for Moinian and SL Green, and spearheaded the loan proc...

LAS VEGAS, NV – 29th Street Capital (29SC), a privately- held real estate investment and advisory firm, has acquired Woodlake Villas Apartments , a 218- unit multifamily community in Las Vegas, Nevada. 29SC plans to implement a $1. 9 million capital improvement program to renovate unit interiors , enhance the property’s exterior and curb appeal and improve the amenity package. 29SC will also implement energy-efficient upgrades through the Freddie Mac Green financing program .The Las Vegas market has experienced significant economic improvements in recent years. In 2016 alone, the Las Vegas market ranked third in rent growth (Axiometrics), added 24,800 jobs and had a positive net migration of 40,000. Additionally, the Las Vegas MSA reported millennial population growth of 3.0% in 2016, which ranked the highest in the U.S.  “We are very pleased with the addition of Woodlake Villas to the 29SC portfolio and our expansion into the ever- improving Las Vegas market ,” said...

A Macon apartment development sitting on 50 acres with a pond in the center of the site has been sold to an Atlanta company. Kenilworth Manor, formerly known as Crystal Lake Apartments , on Crystal Lake Circle , has been bought by Crown Bay Group , according to a news release. The company has already change the name back to Crystal Lake Apartments . “This is a very interesting property and we are very excited to bring it back to a high standard,” Crown Bay CEO Steve Firestone said in an email. Work on the properties has already begun and “some big improvements” should be seen soon, he said. Kenilworth Manor is comprised of an 11- story apartment block , a five- story midrise block as well as a mix of two- story garden apartments , townhouses and “even a cluster of odd cubed-shaped single-story houses,” the release said. “This was built as a cutting edge dynamic community project at the time, but has gone into some disrepair over the years.” The buildings are surrounded by trees wit...

KeyBank Arranges Loans for Affordable Seniors Housing Projects Cleveland- based KeyBank Real Estate Capital (NYSE: KEY) has arranged a $23. 8 million Fannie Mae loan for Harmony Housing , a 501(c)(3) non- profit organization based Douglassville , Georgia. KeyBank’s John Gilmore, IV, and Jeff Rodham arranged the financing. The funds will be used to acquire three affordable and senior housing properties in Texas and Wisconsin, including the acquisition of Prairie Park Senior Apartments , a 96-unit, low- income housing tax credits (LIHTC) property in Madison, Wisconsin. The company has also arranged a $6. 9 million FHA loan for Millennia Housing Development Ltd., for the renovation of Sherman Thompson Towers Apartments , a 151- unit affordable seniors housing community in Ironton, Ohio. The project was awarded tax credits by the Ohio Housing Finance Agency (OHFA), and has a housing assistance payments (HAP) contract that provides rental assistance to 150 of the 151 units. KeyBa...