Northeast

Fairstead, a real estate firm committed to the preservation of affordable housing, has acquired Festival Field Apartments, a 204-unit Section 8 family apartment property located in Newport, Rhode Island for $33.25 million.

Tower Holdings Group, a development and construction firm headquartered in New York City, is coordinating with its subcontractors to lower the risk of infection at its project sites throughout the city, which have already seen a reduced number of staff, Iryna Suhnaska, executive vice president at Tower Holdings, tells GlobeSt.com.

Traffic to multifamily property websites are down 15% year-over-year, guest cards are down nearly 3% and lead volumes will likely plummet further as more cities adopt shelter in place ordinances, says RealPage.

With the CMBS market frozen, lenders that rely on this exit strategy are staying put.

The Park Avenue at Morris County property is a six-building, 1.16-million-square-foot trophy-quality office park at 100 - 600 Campus Drive in Florham Park, NJ at the Columbia Turnpike exit off Route 24.

BMC Hospital LLC is comprised of Wayne Hatami, Anthony Degradi, and Feliks Kogan who are part owners of multiple ambulatory surgery centers in New York and New Jersey.

Outpost Club, a New York-based real estate company operating 25 co-living communities across New York, New Jersey and California, will create dedicated housing for traveling doctors and nurses on the frontlines treating coronavirus, or COVID-19, patients.

DHL Realty has sold its 10,044-square-foot retail center in Oceanside on Long Island, situated along the South Nassau corridor, at 2882-2904 Long Beach Road for $3.95 million, or $393 per square foot. Cushman & Wakefield arranged the sale.