The project will include 160 new units of high-quality, affordable rental housing for older adults and adults with special needs.

“Siena is indicative of active living communities, a rapidly growing subsector of senior living that appeals to adults ready to downsize, live near neighbors like themselves, but not quite ready for the more traditional independent senior living community,” says Michael Hartman, principal – active living, Capitol Seniors Housing.

New ownership plans to upgrade building infrastructure and improve the overall tenant experience at the property.

"With its current occupancy rate of 98%, strong fundamentals, along with corporate and business expansion, we believe this acquisition is an excellent opportunity to increase our presence in Georgia, a target area for our firm,” says Albert Lord III, founder and CEO of Lexerd.

From the time the LSRP program was fully implemented in 2012 to the end of 2015, NJDEP reported that the number of cases closed rose from 1,200 to 7,500. This number surpassed 10,000 in 2017 and is on pace to reach 12,000 this year.

With the Calhoun facility and another location in Florida, MAPEI Corporation operates 13 plants and warehouses in the United States.

A roundup of the latest leases, sales and other transactions in the Northeast middle markets.

“I've seen firsthand the stimulus of tax credits on the affordable housing industry and how they help to create quality homes," says Monarch Private Capital's Sean Cammann.