By Anuradha Kher, Online News EditorCarrolton, Texas–RealPage Inc. recently released OneSite Leasing & Rents Military Housing, a focused version of the RealPage property management software, which handles the requirements of managing privatized military family housing. This on-demand tool enables property managers to manage prospective military residents, service member housing assignments, collection of housing allowance and provision of maintenance for on-base residents. It accommodates the demographic information relevant for housing entitlements and provides for automatic processing of clearinghouse transactions in each branch of service.”United Communities is excited to be the first Air Force/Army Privatization contractor to deploy the RealPage property management…

By Anuradha Kher, Online News EditorColorado Springs, Colo. and Woodbridge, Va.–Love Funding recently closed two refinance loans totaling $9,176,000 for two multifamily projects located in Colorado and Virginia. The national mortgage-banking firm was able to secure Federal Housing Administration (FHA) financing for both communities. The first loan, totaling $3,974,700, was closed for the 171-unit Arbor Pointe Apartments located in Colorado Springs, Colo. Funded through the FHA 223(f) loan program, terms of the deal include a 6.4 percent fixed interest rate and a 35-year amortization. Love Funding was also able to secure $5,201,300 in financing through the FHA 223(a)(7) loan program…

By Anuradha Kher, Online News EditorIrving, Texas–KeyBank Real Estate Capital recently closed a $25 million loan for Canal Side Lofts (pictured), a 306-unit urban loft complex in Irving, Texas. KeyBank provided a permanent loan through Freddie Mac, refinancing an existing construction loan KeyBank had provided when the property was built in 2006. The borrower is Canal Side lofts, Ltd.Arbor Closes $15,035,900 Fannie Mae DUS Loan, and Other TransactionsStone Mountain, Ga.–Arbor Commercial Funding LLC recently completed a funding of a $15,035,900 loan under the Fannie Mae DUS product line to finance the 435-unit complex known as Hidden Pointe Apartments in Stone…

By Anuradha Kher, Online News EditorSt. Paul, Minn.–CommonBond Communities announces that Kelly Matter, former vice president of mission services for Goodwill/Easter Seals, has been named vice president of advantage services at the organization. CommonBond is a nonprofit affordable housing developer, manager and service provider in the Upper Midwest. “Kelly Matter provides the leadership and vision to sustain and strengthen the CommonBond ‘more-than-housing’ model of community development,” says Paul Fate, president and CEO, CommonBond Communities. “The department she manages serves the varied needs of the resident population, which includes seniors, families and people with special needs.” CommonBond residents, on average, earn less…

By Anuradha Kher, Online News EditorWashington, D.C.–Delinquency rates continued to tick up in the third quarter for most multifamily mortgage investor groups, but remained at the lower end of their historical averages, according to the third quarter Commercial/Multifamily Delinquency Report from the Mortgage Bankers Association (MBA). “The frozen credit markets and deteriorating economic conditions are placing increased pressure on the performance of commercial and multifamily mortgages,” says Jamie Woodwell, MBA’s vice president of Commercial Real Estate Research.  “Multifamily mortgages have not seen the same kind of deterioration in performance witnessed among other real estate loans, and at the end of the…

By Anuradha Kher, Online News EditorAtlanta–To help companies and individuals struggling with the credit crisis, Morris, Manning & Martin LLP, a law firm based in Atlanta, has launched a commercial real estate debt management practice, offering legal support and practical business advice to real estate owners. Due to the state of the economy and the housing market in particular, several other firms have recently launched groups to help clients deal with financial or management issues. For example, Colliers Abood Wood-Fay recently launched its Distressed Property Services Group and Cushman & Wakefield formed the Resolution Group, a team of property investment…

By Anuradha Kher, Online News EditorOlympia, Wash.–Alliant Capital LLC has recently completed funding of three multifamily properties for one borrower, totaling $14,449,800. They include Candlewood and Northwood in Everett, Wash., and Willshire Cove (pictured) in Lynnwood, Wash. Candlewood is a 151-unit apartment community built in 1970. Northwood features 55 units and was built in 1968. The 118-unit Willshire Cove was built in 1967. Candlewood and Willshire Cove have eight-year terms with seven years of yield maintenance and 30-year amortization. The rate is fixed for the first seven years and then adjustable in the final year.  Northwood has a 10-year term, the…

By Anuradha Kher, Online News EditorBloomington, Minn.–NorthMarq Capital Inc. arranged first mortgage financing of $71.186 million for an eight-property apartment portfolio. These multifamily properties are located in Ohio, Colorado and South Carolina and feature a total of 1,529 units. Financing was based on a 10-year term with three years interest only and a 30-year amortization schedule thereafter. The company also arranged first mortgage financing in the amount of $2.012 million for the New Country Village, a 48-unit multifamily property located in Cicero, N.Y. Financing was based on a 10-year fixed term plus 1-year floating and a 30-year amortization schedule.Plus, NorthMarq…

By Anuradha Kher, Online News EditorOverland Park, Kan.–NorthMarq Capital Inc.’s Kansas City regional office recently arranged first mortgage financing of $71.186 million for an eight-property apartment portfolio. These multifamily properties are located in Ohio, Colorado and South Carolina and feature a combined total of 1,529 units. Financing was based on a 10-year term with three years interest only and a 30-year amortization schedule thereafter. NorthMarq arranged the financing through its seller/servicer relationship with Freddie Mac. 33-Unit Rental Property Sold for $4.1MVista, Calif.–Hendricks & Partners has arranged the sale of Meadow Ridge, a 33-unit property located at 415 Plymouth Dr. in…

By Anuradha Kher, Online News EditorNew York–With long lines and waits for voting this Nov. 4 across many neighborhoods, the multi-housing industry ensured that their employees got ample time and no penalties for any time they spent out of the office today, casting their ballot.The National Multi Housing Council (NMHC) encourages everyone to vote. Employees are given paid time off to vote in any municipal, county, state or federal political party primary or election. “And judging by the number of ‘I voted’ stickers around the office today, nearly everyone has done so,” a spokesperson for the NMHC tells MHN.The National…