Member News

FTK Construction Services, LLC, (FTK) a full-service nationwide general contractor specializing in LowIncome Housing Tax Credit (LIHTC) rehabilitation projects, announced a contract award for the rehabilitation of Bridgeview Village Apartments in Charleston, SC. The company said the amount of the contract award is approximately $19 million.

Gary Lacey has joined Pennrose, LLC as regional vice president to establish and lead the company’s Texas region office in Dallas, TX, and to oversee and manage multifamily real estate development activities in the state of Texas, the company said in an announcement.

Berkadia announced  the addition of senior director Johnathan Smith to its investment sales team.  Smith has been involved in the sale of more than 300 multifamily assets amounting to more than 37,000 units with a total real estate value exceeding $3 billion, according to Berkadia.

Dominium announced it has acquired Tranquility Bay located in Pearland, TX. The property, which is being renamed Lakeside Pointe, is a 274-unit mixed-income development originally constructed in 2005 and financed through the four percent LIHTC program, according to a company statement.

Bank of America Community Development Banking, in partnership with Enterprise Community Partners, is investing $60 million–$30 million in loans and $30 million in equity financing–to support Enterprise’s Equitable Path Forward, a five-year initiative to help facilitate racial equality in housing, Enterprise said in an announcement.

Standard Communities announced that Sean Carpenter has joined the company as the director of northeast development, a new position. Based in Boston, Carpenter will primarily focus on New England and will be an essential resource nationwide on new construction deals, the company said.

R4 Capital, a national affordable housing tax-credit syndicator, lender and asset manager, said in an announcement it is celebrating ten years of financing quality affordable housing resulting in the creation and preservation of more than 46,000 residential units across 47 states and territories surpassing $5 billion of tax credit equity and debt invested since inception.

Standard Communities, the affordable housing division of Standard Companies, announced it has acquired the L.P interest in Norway Housing, a 136-unit family designated affordable housing property in Boston. 

Cinnaire and CDFI Friendly America announced they have joined forces to launch Impact Jobs: CDFIs 101 for Young Professionals, a four-part virtual learning series beginning May 5.

Standard Communities, the affordable housing division of Standard Companies, said in a press release that it acquired Baltic Plaza Apartments, a 169-unit affordable senior community in Atlantic City.

The National Trust Community Investment Corporation (NTCIC) announced its 200th tax credit investment to support the restoration of the Huntington Theatre in Boston, MA.

WNC announced it has closed WNC Institutional Tax Credit Fund 50 LP (WNC Fund 50). The fund raised $176 million in institutional low-income housing tax credit (LIHTC) equity that will be used to develop and renovate more than 2,160 affordable housing units in 16 states. WNC said it is their largest fund to-date.