Greystone Arranges $287 Million Financing Package for Douglaston Development’s 456-Unit Mixed-Income Rental Development in Brooklyn, NY
Greystone, a leading national commercial real estate finance company, announced it has arranged $287 million in combined construction financing and preferred equity for Douglaston Development’s 1057 Atlantic Avenue, a 474,000-square-foot, 17-story, 456-unit mixed-income multifamily rental development in Brooklyn’s Bedford-Stuyvesant neighborhood. Notably, the project will also be one of the last large-scale new rental housing developments eligible to receive a 35-year real estate tax exemption under the recently expired Affordable New York Housing Program (formerly known as 421-a). Greystone Capital Advisors’ Drew Fletcher, Paul Fried, and Bryan Grover served as exclusive advisors in arranging the financing on behalf of Douglaston Development.
KW PROPERTY MANAGEMENT & CONSULTING Welcomes Diana Rivera as Executive Director of Association Finance
KW PROPERTY MANAGEMENT & CONSULTING, a premier Florida-based association management company, continues to strengthen its leadership team with talented new additions. In the latest example, longtime Certified Public Accountant Diana Rivera joined KWPMC as Executive Director of Association Finance.
Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company active in 10 states and with a portfolio value exceeding $3.5 billion, has promoted Melanie Allender to Senior Regional Portfolio Manager. Allender, who has more than 22 years of diversified residential real estate experience, joined CRC in 2016 and was formerly Regional Portfolio Manager.
Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company which owns and operates a multifamily and shopping center real estate portfolio exceeding $3.5 billion, has announced the promotion of Kara Brogden to Asset Manager, Multifamily Division. Brogden has worked for the company since 2019 and was formerly an Asset Management Associate.
Partnership to develop 214 townhome-style units in rapidly growing master-planned community following successful site acquisition
Construction proceeding on 184-unit Five43 Apartments in Harford County, Maryland, with delivery set for early 2024
Construction is proceeding on Five43 Apartments, an upscale multifamily community situated in the Bel Air section of Harford County, Maryland which, upon its scheduled completion in early 2024, will offer a modern, mid-rise living environment with unique design features highlighted by above-average unit sizes and a full-range of amenities to residents. The project, positioned at the intersection of US 1 and MD Route 543, is a development of Lutherville-based Peak Management, LLC, an affiliate company of Hill Management Services, Inc. Leasing activities are expected to commence this fall.