In the money
By: Bendix Anderson | Yield PRO
Apartment investors are taking out more loans than ever. In 2021, they rushed to get loans to buy new apartment properties and refinance the debt on existing properties.
Investors spent more to buy apartment properties at the end of 2021 than ever before. They spent more than $80 billion in December 2021, which is roughly twice what they spent to buy apartment properties the month before, according to Real Capital Analytics (RCA) based in New York City. These sales are much more than apartment investors spent during the worst of the pandemic — often less than $10 billion a month.
Mid Atlantic Real Estate Journal – Best Of Issue
By: Mid Atlantic Real Estate Journal Editorial Team
The BEST REDEVELOPMENT – ADAPTIVE REUSE PROJECT of 2021. CHA Partners, a full-service real estate development firm, acquired the former Muhlenberg Regional Medical Center and repurposed the facility into a mixed-use project consisting of a community-based healthcare facility known as the Muhlenberg Medical Arts Complex and a 120-unit luxury residential apartment project known as The Randolph Apartments. The Muhlenberg Medical Arts Complex features an ambulatory surgical center, assisted living facility and others while The Randolph is a highly amenitized rental project and was fully leased in less than six months. This creative repurposing breathed new life into the shuttered hospital that was dormant for 10 years before CHA’s involvement.