Historic Property in Maine to Become Affordable Seniors Housing
Lewiston, Maine–After having been vacant for about six years, the historic 81 Ash St. in Lewiston will be converted into an affordable 32-unit multifamily residence for seniors.
Detroit Revitalization Fellows Program
Detroit–Wayne State University has launched the Detroit Revitalization Fellows Program, to build the capacity of public, for-profit, nonprofit and other organizations to facilitate the redevelopment of Detroit.
Freddie Mac Securitizes More Multifamily Mortgages
McLean, Va.–Freddie Mac has made a new offering of about $1 billion of K-011 Certificates, backed by 76 recently originated multifamily mortgages.
Economy Watch: Housing Starts in the Basement in February
Housing starts dropped 22.5 percent in February; the Producer Price Index increased again; and the nuclear incident in Japan continues to fog the economic outlook surrounding Japan.
Aries Capital Affiliate Awarded $35M in New Markets Tax Credits
Chicago–Urban Development Fund L.L.C. has received an allocation totaling $35 million under the NMTC program for redevelopment of low-income areas in the United States.
Economy Watch: World Economy Still Roiled
The world economy continues to be vexed by the disaster in Japan; the Fed remains optimistic about quantitative easing; and Americans are pessimistic about retirement.
Waterton Goes Hunting for More Multifamily
Chicago–Waterton Residential has closed on a $500 million multifamily investment fund that will specialize in seeking value-add multifamily opportunities through repositioning and recapitalization properties.
Economy Watch: Japanese Disaster Reverberates Worldwide
The damage to Japan is widespread, with ripples affecting numerous facets of finance and industry. And hackers at Anonymous are accusing Bank of America of playing dirty with homeowners insurance.
Dune and TDI Form $1B Multifamily JV
Dune Real Estate Partners and TDI Real Estate Holding have formed a joint venture to acquire and develop multifamily assets throughout the United States.
CRE Consultant Predicts Lower CRE Returns until the Mid-10s
The San Francisco-based real estate advisory Wolfback is predicting a slump in U.S. commercial real estate investment returns for the next four years.