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June 29, 2021

LGBTQIA+ Seniors Need Dedicated Affordable Housing. There Isn’t Nearly Enough Of It

[In-Person] HYM Investment Group talks massive Suffolk Downs development Aug. 5

Donald Capoccia was on a bike ride during a vacation in New Mexico about a decade ago when he caught a glimpse of an affordable housing complex for LGBTQIA+ seniors. Capoccia, a managing principal at New York-based affordable housing developer BFC Partners, stopped his ride to take a closer look, captivated by the idea of the development. 

“I immediately thought, ‘Why in the world do we not have this in New York?’” he said. 

LGBTQIA+ Seniors Need Dedicated Affordable Housing. There Isn’t Nearly Enough Of It

Capoccia, who is gay, became set on building something similar back home, he told Bisnow in an interview this month. Less than two years ago, his dream became a reality. BFC Partners delivered Stonewall House, a 145-unit, 17-story affordable housing building designed to cater to LGBTQIA+ seniors, on…

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Blackstone Pays $325M For East Cambridge Apartment Complexes

Blackstone is spending $325M for two apartment buildings in East Cambridge in one of Greater Boston's largest investment sales of the year.

Blackstone Pays $325M For East Cambridge Apartment Complexes

The private equity giant, through its LivCor multifamily arm, bought 1 Leighton, a 426-unit, 22-story tower, for $281M and 10 Glassworks Ave., a 103-unit loft building behind 1 Leighton, for $44M from Avalon Bay Communities earlier this month, according to Middlesex County land records.The neighboring…

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Maturing Life Sciences Industry Seeks More Refined, Mixed-Use Spaces

Maturing Life Sciences Industry Seeks More Refined, Mixed-Use Spaces  

A new $330M development taking shape inside a former 1915 Ford Motor plant in Pittsburgh aims to be a center of innovation and new industry, which in 2021 means building space for the life sciences.

The repurposing of the 335K SF industrial site, where Model T automobiles were once assembled, seeks to turn industrial space into an innovation center. The six-story crane shed where raw materials were moved from railcars will become an open-air atrium and collaboration space.

The Assembly, set to open early next year in the Bloomfield/Shadyside neighborhood, showcases how the design of life sciences spaces is maturing along with the industry and favoring more mixed-use developments, often at a larger scale. As the industry continues to boom — Cushman & Wakefield predicts $90B in investment in…

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Blackstone’s Debt Business Has $9B To Lend, And This Is Where It Wants To Put It

 

There is a flurry of change underway at Blackstone’s real estate debt business, with new leaders in place for its flagship mortgage trust and its European property lending arm. 

As the pandemic ebbs, new opportunities are arising to lend the more than $9B (£6.4B) of dry powder that Blackstone’s $47B lending division has available. After the Global Financial Crisis, debt markets stayed frozen for more than two years. After the coronavirus-induced recession of the past 16 months, they are already liquid again. 

Leisure hotels, logistics and life sciences on both sides of the Atlantic are at the top of the list for new deals, Blackstone Mortgage Trust Chief Executive Katie Keenan and Blackstone Real Estate Debt Strategies European Head Steve Plavin told Bisnow. 

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