Multi-Housing News

3 days ago | multihousingnews.com | Claudiu Tiganescu

The community had an occupancy rate of 97 percent at closing. The Bungalows at San Tan Village comprises one-story homes featuring a private backyard and 10-foot ceilings, among other amenities. Image courtesy of Yardi MatrixAEW Capital Management has acquired The Bungalows at San Tan Village, a 159-unit build-to-rent property in Gilbert, Ariz., from Cavan Cos. The asset traded for $66.1 million, or $415,723 per home.

4 days ago | multihousingnews.com | Maria Maruta

The property is under new ownership for the first time since the 1960s. Hill Estates comprises 304 apartments and 92 townhomes. Image courtesy of Yardi MatrixThe Hamilton Co. has purchased Hill Estates, a 396-unit community in Boston’s suburb of Belmont, Mass., for $175 million. CBRE worked on behalf of the seller, the DiGiovanni family, and procured the buyer. This is the first time the asset has changed hands since its 1960s completion.

5 days ago | multihousingnews.com | Claudiu Tiganescu

The property is within a $1.8 billion mixed-use development. Completed last year, the five-story property provides direct access to Frisco Station’s 15-acre park. Image courtesy of Yardi MatrixAEW Capital Management has acquired The Casey, a 300-unit luxury property in Frisco, Texas, from Hillwood Communities, according to Yardi Matrix data.

5 days ago | multihousingnews.com | Adina Rogoz

(From left to right) Udi Kore, John Valladares and Matt Linde. Images courtesy of Avenue Realty Capital, Slate Property Group and Property Resources Corp., respectivelyAs cities across the U.S. continue to grapple with both severe housing shortages and a glut of underused commercial space, developers and policymakers alike are increasingly turning to residential conversions.

1 week ago | multihousingnews.com | Claudiu Tiganescu

PNC Bank also issues agency loans. Earlier this year, it provided a $48.2 million Fannie Mae loan for the refinancing of San Tropez Apartments & Townhomes, a 334-unit property in South Jordan, Utah. Image courtesy of Yardi MatrixPNC Multifamily Capital has closed its LIHTC Fund 98, amassing commitments of more than $208 million for the development and rehabilitation of affordable housing across the U.S.Investors included PNC and seven other financial services and insurance companies.