Original Southeast commercial real estate news & events for Atlanta, Carolinas, Memphis, Miami, Nashville, Orlando and Washington D.C. metro area; plus expert insights, commentary and analysis into secondary and tertiary regional and local markets.
With New York City’s affordable housing crisis, the developers plan to tap into tax credits and to return more than 1,800 market-rate apartments to rent regulation.
KKR and Banyan Street Capital are planning an additional $5 million in capital improvements that they state will address enhancements to the fitness center, retail concourse, outdoor plaza and tenant elevator landings and corridors.
The REIT has sold its stake in the Benchmark Senior Living portfolio for $1.8 billion and is also acquiring a handful of facilities including 6-building, 270,000 square foot medical office campus for $140 million from Summit Medical Group.
The financing package consisted of six new Freddie Mac Value Add Green Advantage loans, five loan assumptions from Fannie Mae and $40 million in equity over the entire portfolio.