News

Revenue for the 2019 third quarter surpassed the $213.5 million in third quarter 2018, and operating income for the quarter totaled $27.3 million versus $21.5 million in the prior year third quarter.

The portfolio totals 2,800 market-rate units. More than 1,800 of the units are slated to become rent-regulated in the long-term.

Gavin Newsom recently signed into law a bill to create a state historic tax credit of 20% of qualified rehabilitation expenditures, with an increase to 25% of QREs that meet certain criteria, i.e. affordable housing.

"Demand has kicked in throughout the Greater Philadelphia Metro, which includes Philadelphia proper as well as South Jersey and the city's northern and western suburbs," says Gebroe-Hammer executive managing director Joseph Brecher.

The 11-property portfolio consists of class-A communities located in Florida, Georgia and Nevada.

Peter Rader assumes V.P. and regional education practice lead role for JLL's Project and Development Services group in the tristate region.

B6 Real Estate has agents in 21 territories throughout the New York tristate area and half are unfulfilled with capital advisory agents.

The property prior to the sale, entered into a 10-year, 340-bed master lease with Columbia College in August. Greystar reports that the remaining 48 beds are fully leased for the 2019/2020 academic year.