From the news
Real Estate Weekly
Bevery Hills investor buys 1,200 unit affordable housing portfolio
Beverly Hills-based Stonebridge Global Partners has closed on $47 million in financing for the acquisition of seven affordable housing properties comprising over 1,200 apartments.
Walker & Dunlop Structures $21.4 Million in Financing for Two Affordable Properties
Walker & Dunlop, Inc. announced today that it structured $12,500,000 in financing for Windsor Court Apartments and $8,925,000 for Lindsay Commons, two apartment complexes located in Milwaukee, Wisconsin. Both properties are affordable, with all 354 units having Section 8 HAP contracts and Low-Income Housing Tax Credit (LIHTC) restriction
Gray Reed Represents Client in Purchase of Nine Multifamily Properties Totaling $100 Million in 2020
Throughout 2020, Gray Reed represented Stonebridge Global Partners, LLC, of Beverly Hills, California, in the acquisition of nine affordable housing properties located in the Midwest and along the East Coast totaling $100 million. Each of the properties are subject to Section 8 HAP contracts, Low-Income Housing Tax Credit (LIHTC) or Section 236 restrictions
Beverly Hills investor pays $16 million for 239-unit apartment property in Milwaukee
An investment group based in Beverly Hills, California has acquired the 239-unit Windsor Court Apartments in the King Park neighborhood on Milwaukee’s near west side for $15.95 million, according to state records.
Affordable Senior Housing Property in Historic Chicago Neighborhood Receives $14 Million in Financing via Walker & Dunlop
Walker & Dunlop, Inc. announced today that it structured $13,920,000 in financing for Willa Rawls Manor, an 11-story, 123-unit affordable housing community for seniors aged 62 and above. The property was originally developed in 1979 and is 100 percent covered by a long-term Section 8 Housing Assistance Payments (HAP) contract.
Financing for $42.4 Million, Five-Property Portfolio in New York and Michigan Arranged by Walker & Dunlop
Two of the properties, Colonial Manor Apartments and Hay Creek Apartments, qualify as affordable housing due to Section 8 HAP contracts on 100 percent of the units. In addition, Hay Creek Apartments is entirely dedicated senior housing. The remaining three properties contain a combination of affordable and workforce housing units.
Affordable Housing Finance
Walker & Dunlop Arranges Financing for 3 Sec. 8 Properties
Walker & Dunlop (NYSE: WD) announced that it has arranged nearly $16 million in Freddie Mac financing for the acquisition of three Sec. 8 housing communities located in the Southeast.
Stonebridge Refinances Trio of Affordable Assets
Bethesda, Md.— Walker & Dunlop Inc. has arranged $13.7 million for three multifamily buildings in Florida and Missouri. The borrower is Stonebridge Global Partners, a company which focuses primarily on acquiring and managing affordable housing projects.