Multifamily

The luxury apartment community, located in Montgomery County, MD, will feature more than 15,000 square feet of amenity space.

The apartment communities, obtained from Aimco, comprise 376 units in Columbia, Maryland.

"Adding new affordable housing has been a major focus of the bank."

"Jacksonville continues to have an abundance of value-add opportunities coming on market, which has put the metro on the top of many buyer's target lists right now."

The new ownership states that while the acquisition will provide immediate cash flow, Merion's investment strategy includes the implementation of a value-add strategy including: unit interior upgrades, clubhouse and common area refresh, LED lighting upgrades, and property amenity upgrades.

If materials cost increases from the trade wars moderate, housing production could pick up.

Its year-end transactions included a $10-million loan to finance the reconstruction of Seaside Heights' historic Belle-Freeman Pier, which was destroyed by Superstorm Sandy and a subsequent fire.

Following California State legislation reducing the ADU regulations, homeowners are taking full advantage of the opportunity.