Avanti Residential, a Denver-based multifamily investor and operator, has rolled out its new affiliate Avanti Residential Housing, which will focus on Low-Income Housing Tax Credit (LIHTC) development, acquisition, and preservation. The new Tampa-based affiliate will...
Four real estate investors were sentenced for coordinating a multi-year conspiracy that fraudulently obtained multimillion-dollar loans on commercial and multifamily properties. Aron Puretz and his son, Chaim “Eli” Puretz, both of New Jersey, were sentenced to prison...
The delinquency rate for commercial mortgage-backed securities (CMBS) rose by 35 basis points to 6.65% in March, according to new data from Trepp Inc. Year-over-year, the overall CMBS delinquency rate is up 198 basis points from 4.67%. Last month, the overall...
Sunstone Two Tree, a developer and operator of rental housing communities, has acquired Terraza Hills, a 200-unit apartment property in San Diego, for $45 million or $225,000 per unit. The property was built in 1976 and still in its original condition. Sunstone Two...
Real estate developer Thomas O’Brien is reportedly planning to declare his candidacy for mayor of Boston. WCVB.com reports that O’Brien is expected to announce his bid in the next few days. He is the CEO and managing partner of The HYM Investment Group, which...
Canada’s Ottawa Police Service arrested Timothy LaFlamme for running a real estate investment scam. According to the charges brought against him, LaFlamme is accused of defrauding friends and acquaintances of over $240,000 between December 2023 and September 2024....
