Northeast

HVPG Acquires Long Island Affordable Housing Property for $145 Million

by Lynn Peisner January 8, 2026

HEMPSTEAD, N.Y. — Hudson Valley Property Group (HVPG) has acquired 100 Terrace Apartments, a 430-unit affordable housing community located at 100 Terrace Ave. in Hempstead, a city in Nassau County. Total acquisition costs were approximately $145 million. HVPG is planning to invest roughly $23 million in renovations to the property, which was originally constructed in 1972. To ensure long-term affordability for residents, HVPG has secured a renewed HUD Project-Based Section 8 Housing Assistance Payment (HAP) contract covering 99 percent of the property’s units. Under this agreement, income-qualified residents will pay …

January 8, 2026

Berkadia Finance News Northeast Washington, D.C.

Berkadia Arranges $9.5 Million Refinancing for July Residential’s Bonsai Apartments in D.C.

by Lynn Peisner January 8, 2026

WASHINGTON, D.C. — Berkadia has arranged a $9.5 million refinancing loan for July Residential’s Bonsai Apartments, a newly constructed, 41-unit community in Washington, D.C.’s H Street corridor. The lender was Revere Capital, which provided a two-year floating-rate loan. Berkadia’s Mitch Sinberg, Matt Robbins, Scott Wadler and Brad Williamson of Berkadia Boca Raton and Miami, alongside Brian Gould of Berkadia D.C. Metro, arranged the financing. The transaction closed on Dec. 29. July Residential is headquartered in New York City with offices in Washington, D.C., and Boca Raton, Florida. The owner-operator’s portfolio …

January 8, 2026

Affordable Housing Development Finance New York News Northeast

Gilbane Secures Financing for $193 Million Bronx Affordable Housing Development

by Lynn Peisner January 5, 2026

NEW YORK CITY — Gilbane Development and several project partners have closed on financing for Renova West at 860 Concourse Village East in the Morrisania neighborhood in the Bronx. The $193 million project encompasses a 19-story mixed-use affordable housing development along with a new 7,000-square-foot ICL Bronx Health Hub, which provides physical and behavioral health care. Development partners include the Institute for Community Living (ICL), Tredway, New York City’s Department of Housing Preservation and Development (HPD) and Housing Development Corp. (HDC). The capital stack is comprised of debt and equity …

January 5, 2026

Build-to-Rent Investment Sales News Northeast Pennsylvania

PPR, Bel Canto Buy Botanica Cottages in Metro Philadelphia

by Lynn Peisner December 29, 2025

LIMERICK, PA. — Locally based PPR Capital Management, along with Bel Canto Asset Growth Fund, has acquired Botanica Cottages, a 199-unit property in Limerick, 35 miles northwest of Philadelphia. Developed in 1999, the townhome community offers one-, two- and three-bedroom floor plans. An attached garage is included in each direct-access unit. Amenities include a 24-hour fitness center and resort-style pool and hot tub. PPR and Bel Canto plan to implement a value-add strategy through interior unit renovations, which are expected to begin in the first quarter of 2026.

December 29, 2025

Finance Massachusetts News Northeast

JLL Arranges $23 Million Refinancing for Metro Boston Property

by Lynn Peisner December 23, 2025

CAMBRIDGE, MASS. — JLL Capital Markets has arranged a $23 million loan through Manulife/John Hancock Life Insurance Co. to refinance 1008 Mass Ave, a 65-unit luxury community in Cambridge. The borrower was Boston Residential Group. The seven-story building, constructed in 1999, features 65 studios, one- and two-bedroom apartments along with ground-floor retail space currently occupied by Gibson Sotheby’s International Realty. The property is home to 67 covered parking spaces and amenities including 24-hour concierge services, a fitness center, a seventh-floor deck with panoramic city views and laundry facilities on every …

December 23, 2025

Investment Sales New York News Northeast

KABR Group Buys Mid-Rise Asset in Port Chester, New York, for $30.7 Million

by Lynn Peisner December 22, 2025

PORT CHESTER, N.Y. — KABR Group has acquired 1 North Main Street in Port Chester for $30.7 million. The seller was an entity affiliated with G&S Investors and Robert Martin Co., which developed the 209-unit property between 2020 and 2022. The JLL Capital Markets team representing the seller was led by Jose Cruz, Jeffrey Julien, Steve Simonelli and Austin Pierce. The asset features five stories of market-rate apartments and 7,630 square feet of ground-floor retail. The new owners will be party to a PILOT (Payment In Lieu Of Taxes) agreement …

December 22, 2025

Development Finance New York News Northeast

JV Secures $384 Million for Jersey City Waterfront High-Rise Development

by Lynn Peisner December 22, 2025

JERSEY CITY, N.J. — Panepinto Properties and AJD Construction have secured $306 million in senior non-recourse construction financing and $78 million in preferred equity for the land purchase and vertical construction of Harborside 8, a 678-unit, luxury waterfront development along the Hudson River in Jersey City. JLL’s Capital Markets group arranged the floating-rate senior loan through Kennedy Wilson. JLL also arranged the preferred equity through Affinius Capital. The development partners plan to break ground in the first quarter of 2026 with stabilization estimated for the first quarter of 2030. The 65-story …

December 22, 2025

Affordable Housing Development New York News Northeast

The Habitat Co. to Break Ground in Spring on $600 Million Redevelopment of Buffalo Waterfront

by Lynn Peisner December 19, 2025

BUFFALO, N.Y. — The Habitat Co. has closed on financing for Marine Drive Apartments in downtown Buffalo. The project will mark the start of a three-phase, $600 million redevelopment of the historic waterfront site, which will include infrastructure work, that will be led by Habitat in partnership with Duvernay + Brooks and Bridges Development, an affiliate of the Buffalo Municipal Housing Authority (BMHA). The Phase I project cost is approximately $208 million. It is financed through public-private partnerships between Enterprise Community Partners, Buffalo-based M&T Bank and New York State Homes …

December 19, 2025

Development Massachusetts News Northeast

HYM, Cathexis Break Ground on Second Residential Project in Boston’s Suffolk Downs Redevelopment

by Lynn Peisner December 18, 2025

REVERE, MASS. — The HYM Investment Group, along with project partners Cathexis Holdings, the City of Revere, Related Fund Management and Suffolk, have broken ground on Portico, the second residential building at the 161-acre Suffolk Downs, a redevelopment of a former horse racing track. HYM and Cathexis bought the site in 2017 with a plan to redevelop the property into a mixed-use district. The first project, Amaya, was completed in 2024. Portico is slated for a February 2028 completion. Additional partners on the 473-unit project include Prellwitz Chilinski Architects, MEP …

December 18, 2025

Affordable Housing Finance New Jersey News Northeast

JLL Arranges $47.5 Million Refinancing for Kaplan’s Camelot West at Townelake Project in New Jersey

by Lynn Peisner December 18, 2025

SAYREVILLE, N.J. — JLL has arranged a $47.5 million refinancing loan through a regional bank secured by Camelot West at Townelake. The newly delivered 176-unit luxury property was developed by sponsor Kaplan Cos. and consists of seven residential buildings. The luxury mid-rise community offers 166 market-rate units and 10 units reserved for tenants earning up to 80 percent of area median income. Floor plans are offered in one-, two- or three-bedroom options. Amenities include a fitness center, a pool, lounge area with a coffee bar, a parcel room, a barbecue …

December 18, 2025

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