Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.
TODAY’S DEALS: HFF Arranges $371.7M for Tishman Condo in San Francisco
Tishman Speyer lands construction financing with help from HFF; BRE Properties sells a Los Angeles asset for $46.8 million; and NorthMarq Capital arranges a $14 million loan from a life insurance company for note acquisition deal.
Construction Begins on Seniors Housing in Brooklyn
Developer CPC Resources Inc. has joined forces with Ground Community HDFC, East Brooklyn Congregations, Common St. Paul Community Baptist Church, the U.S. Department of Housing and Urban Development and the New York State Homes and Community Renewal on construction of Redwood Senior Living in the East New York section of Brooklyn.
Economy Watch: Construction Spend Rises in May
The Census Bureau said that U.S. construction spending during May was at an annualized rate of $874.9 billion, 0.5 percent above the revised April rate. The May figure is 5.4 percent above the May 2012 total of $830.4 billion.
TODAY’S DEALS: Capri Capital, Kennedy Wilson Buy 437 Units in Marina del Rey
Capri Capital and Kennedy Wilson complete a $225 million purchase; CBRE facilitates a 110-unit sale in San Diego; and Meridian Capital Group arranges a $12 million refinance loan for a Pennsylvania community.
‘Economy Watch’ Podcast with Dees Stribling: The Economy Didn’t Grow Much
The economy didn’t grow much in the first quarter, but there continues to be other good news.
Maryland Office Building to Become Apartment Community
A five-story office building at 11411 Georgia Ave. in Wheaton, Md. is being redeveloped as an apartment building.
Economy Watch: Mortgage Delinquencies Drop
Fannie Mae reported on Friday that the single-family serious delinquency rate for the mortgages that it owns and insures dropped in May to 2.83 percent from 2.93 percent in April, down to the lowest level since January 2009, when delinquencies were on the way up.
Work Under Way on San Francisco High-Rise Condos
Tishman Speyer and China Vanke have broken ground for Lumina, a mixed-use project at Main and Folsom streets in downtown San Francisco, near the waterfront. The development will include 655 condo units, along with retail and parking.
TODAY’S DEALS: CBRE Global Investors Acquires D.C.-Area Community
CBRE buys a 413-unit asset in Ashburn, Va. and HFF provides a $13.8 million mezzanine loan for an Edwards Companies development.
Boston’s Parcel 24 Development to be Called One Greenway
The joint venture development to be sited on Parcel 24 in Boston has been named One Greenway. The New Boston Fund Inc. and the Asian Community Development Corporation (ACDC) made the announcement.