Prior to receiving the Citigroup loan earlier this year, Kushner Cos. and its partner in the building, KABR Group, had trouble finding a firm to refinance more than $180 million of loans.
Jun 01, 2018
Investors benefit by keeping rents affordable following renovations.
Almost 4.5 million households -- or 9.1 percent -- owed more than their homes are worth in the fourth quarter of 2017, according to data firm Zillow.
Though tax-exempt municipals often finance affordable housing projects, it’s rare for debt with a tax break to finance luxury apartment buildings.
Rent growth is seriously slowing down in a handful of markets.
The buyer is a local apartment developer that had been eyeing the property ever since Kushner Cos. and Oaktree Capital Management LP acquired it five years ago.
Republican Bob Corker of Tennessee and Democrat Mark Warner of Virginia commented on the status of the two companies Wednesday at a Senate Banking Committee.
Gauging six measures, RentCafe has generated its take on America's most prosperous cities since 2000.