New York-based co-living company The Collective has secured a $75 million construction loan from ACRES Capital to finance 292 North 8th St., an 11-story student housing and co-living development in Williamsburg, Brooklyn.
The NMTC loans included a $4-million allocation from Capital One Community Renewal Fund and a $10.5-million allocation from NJCC, which also provided Hugo Neu with a $2.5-million term loan.
Data shows that more and more, upwardly mobile Millenials are choosing to rent and invest in growing their assets in other financial sectors instead.
Luxury real estate developer SHVO on behalf of a joint venture including Deutsche Finance America and BLG Capital Ltd. has secured a $230 million loan from LoanCore Capital in the acquisition of 530 Broadway in SOHO.
Workplace management platform Eden has acquired its competitor Managed by Q from WeWork after a months-long bidding process. The acquisition amount is undisclosed for the investment round that Jones Lang LaSalle Technologies led to cement the acquisition.
Dynamic Star, a real estate development and investment firm, is in search of an equity partner to capitalize on the Opportunity Zone benefits at its development site in the Bronx called Fordham Landing, a $3.5 billion mixed-use community.
Nominations are now open for GlobeSt. Real Estate Forum’s Women of Influence Awards. Chosen individuals will be recognized at our GlobeSt. Women of Influence Awards Dinner in Park City, Utah on July 23. The submission deadline is April 3.
Due to mounting concerns about the coronavirus, the Federal Reserve has slashed interest rates, which in turn can lead a flurry of homebuyers to the market to secure investments. However, that sugar high isn’t expected to last long.
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