Tribeca Sells Multifamily Assets Acquired through Loan Purchase in 2009
San Francisco–Tribeca Cos. has sold nine of the 12 properties that it acquired through a loan purchase from lender UBS in late 2009, then acquired the title through foreclosure of the properties.
Economy Watch: Leading Economic Indicators See Uptick
The Conference Board’s Leading Economic Index registered a bump up in May, but consumer sentiment dropped in early June. And large numbers of corruption charges are moving through Chinese courts.
Solar Power System Completed at San Diego Affordable Housing Property
San Diego–Community HousingWorks and HelioPower have completed a Multifamily Affordable Solar Housing project at Las Serenas, an affordable housing property in San Diego.
Restarted Sterling at Silverleaf to Include Upscale Condos
Scottsdale, Ariz.–When Sterling at Silverleaf returns to the market, it will feature 16 villas, 12 “custom estates” and 180 upscale condos.
ACC Starts Work on 3,200-Plus Student Housing Units
Austin–American Campus Communities has broken ground on four different student housing projects in different states, representing a total development cost of $156.6 million.
Work Begins on Conversion of Randolph Tower to Apartments
Chicago–When restoration is complete, Village Green’s Randolph Tower City Apartments will be a mixed-use, 45-story historic high-rise including 313 rental units.
Armstrong Place Rental and For-Sale Residences Completed
San Francisco–Armstrong Place, an affordable housing development in San Francisco, includes a rental community for seniors as well as below-market-rate homeownership options for first-time homebuyers.
Ground Broken for Towson Green Townhouses near Baltimore
Towson, Md.–Bozzuto Homes has broken ground for Towson Green, a new sustainable townhome development in Baltimore County.
HUD Unveils Multifamily Refinance Program that Also Pays for Green Upgrades
Washington, D.C.–HUD has kicked off Green Refinance Plus, which will allow owners of affordable rental housing properties to refinance into new mortgages that include funding for energy upgrades.
Paul Dincin: Multifamily Workout Specialist
Catapult’s Paul Dincin and Brian Columbus specialize in assisting banks, special servicers and other financial institutions deal with their distressed multifamily properties, fractured condominium developments and other broken CRE assets.