Multifamily

STAMFORD, CONN. — The NHP Foundation (NHPF) has closed on $17.7 million construction financing for the renovation and preservation of Bayview Towers Apartments in Stamford. The Connecticut Housing Finance Authority provided the loan. NHPF will undertake $12.3 million in renovations and upgrades to 200 units of the low- and moderate-income housing. PNC Bank served as the tax credit investor for Bayview Towers Apartments, providing $7 million in federal low-income housing tax credit equity. The Connecticut Light and Power Co. is also supporting the project by making a $500,000 contribution through the State of Connecticut's Housing Tax Credit Contribution program to assist with the rehabilitation of the project. Bayview Towers Apartments was built in 1973 and is located at 300 Tresser Blvd.

HOBOKEN, N.J. — The Milestone Group & Invesco has sold The Juliana, a 128-unit luxury multifamily property in Hoboken for $67 million. AEW Capital Management LP purchased the asset on behalf of the AEW Core Property Trust, the firm’s core open-end fund. Completed in 2007, The Juliana includes two four-story buildings surrounding a 25,000-square-foot courtyard. The property, which is 95 percent leased, offers one-, two- and three-bedroom units averaging 1,068 square feet. Located at 600 Jackson St. and 601 Harrison St., The Juliana is within walking distance to the 9th St. Light Rail station and local bus lines. HFF represented The Milestone Group in this deal.