Company Acquisitions
Standard Communities, a leading national affordable housing developer and investor, has expanded its principal offices and added staff reflecting robust business.
Housing Opportunities, Mortgage Assistance & Effective Neighborhood Solutions, Inc. (H.O.M.E.S., Inc.), a mission-oriented housing non-profit based in Fort Lauderdale, Florida, is thrilled to announce a new strategic partnership with First Lien Capital that resulted in the award and acquisition of 62 HUD HECM Reverse Mortgages on vacant homes located in New York, New Jersey, Illinois, Florida, and Connecticut. This collaboration sets the stage for more assets being sold by HUD to reach local non-profits and end users who are struggling to access quality single family homes at affordable prices.
Michigan Avenue Real Estate Group and its property management subsidiary, GERAM Property Management, announce today the launch of its new property management brand, The Maeve Group. The Maeve Group will continue to offer exceptional property management services for a boutique portfolio of apartment properties developed by Michigan Avenue Real Estate Group in the West Loop, Oak Park, and Evanston. Today’s announcement coincides with the launch of the brand’s new website, themaevegroup.com.
Standard Communities, a major national affordable housing developer and investor, has acquired controlling interest in an affordable housing portfolio of nearly 3,200 units in Florida and Georgia. The transaction is Standard’s largest acquisition.
Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company active in 10 states, has purchased its eighth multifamily community in North Carolina with the recent $96.3 million acquisition of Sycamore at Tyvola, located at 707 Sycamore Centre Drive in Charlotte. Developed by Switzenbaum & Associates and delivered in December 2018, the 288-unit four-story elevator-serviced community was 95.5 percent leased at the time of this transaction. As part of the acquisition, CRC will assume the in-place 40-year amortizing fixed-rate HUD loan at a 2.96% interest rate with a mortgage insurance premium. Michael Saclarides of Cushman &Wakefield represented the seller.
NEW YORK – Berkadia announces it has secured programmatic equity from a global institutional investor to finance Indiana-based The Sterling Group’s recapitalization of three apartment communities located in North Carolina, South Carolina and Tennessee.
BOYNTON BEACH, Fla. (November XX, 2022) – Berkadia announces it has secured a $93.6 million loan to refinance two multifamily communities located in Palm Beach County: Advenir at Banyan Lake and Advenir at La Costa, both vintage garden-style multifamily assets located in Boynton Beach, Fla. Senior Managing Director Charles Foschini and Managing Director Chris Apone of Berkadia Miami secured the financing on behalf of Advenir, a multifamily and single-family rental community developer and operator based in Aventura, Fla.
SAN ANTONIO, TX- (October 25, 2022)- Lynd Acquisitions Group (LAG), a division of The Lynd Group, has acquired another apartment community in San Antonio, recently closing on the 344-unit Parc 410 in the Leon Valley submarket. The acquisition price was not disclosed. Lynd plans on investing $6 million in renovating units and common areas, and performing deferred maintenance.
