News
MULTIFAMILY MONDAY; THE DEAL SHEET
April 16, 2012
| Boston Capital topped the National Multi Housing Council's ranking of the largest owners of apartments earlier this month. COO Jeff Goldstein tells us most of the firm's Chicago affordable housing holdings (say that five times fast) are seniors, and more are in store. | ||
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| Jeff says his firm has 3,060 affordable units in Illinois and expects to close its 15th and 16th Chicagoland seniors affordable properties within six months: Autumn Green at Midway Village at 6700 S Keating Ave and Norwood Park at 6016 N Nina Ave. Boston Capital's heavy holdings in seniors here owe to a relationship with one sponsor that specializes in that sector. Jeff also tells us his firm is closing a 38-unit family affordable building in Rockford. ("I'm a Peach!" Know that reference? Hint: There's no crying in baseball, especially for Jeff, who got to dress down for Red Sox Appreciation Day at the office.) He also tells us yields don't differ for inner city, suburban, or rural affordable housing properties, except in those cities where hyper competition for Community Reinvestment Act credits drives down yields. See more on those in today's Bisnow New York. | ||
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