NorthMarq Acquires New England Realty Resources
Minneapolis—NorthMarq Capital LLC has acquired New England Realty Resources (NERR) of Boston. NERR is a 30-year-old mortgage firm specializing in the origination and servicing of commercial mortgage investments. The acquisition is expected to significantly increase the production from that office. Joining NorthMarq from NERR are four industry veterans, including the firm’s founder, Jim Murphy, who will be the Boston office’s managing director. He is the former Chairman of the Mortgage Bankers Association of America and a former member of Fannie Mae’s National Advisory Council. In Boston, he served as a member of the Mayor of Boston’s Housing Finance Blue Ribbon…
830-Acre Purchase Paves Way for $2.5B Smart Growth Community
LNR Property LLC just wrapped up the acquisition of the final 830 acres required to bring SouthField, a 1,400-acre, $2.5 billion project to fruition.
Travis D’Amato Named Senior Vice President at Recap Real Estate Advisors
Travis D’Amato has joined Recap Real Estate Advisors as senior vice president, a role in which he will be responsible for building Recap’s growing transaction advisory practice.
Walker & Dunlop Hires Vice President of FHA Finance
Bethesda, Md.—Walker & Dunlop Inc. has hired Keith L. Melton as vice president, FHA Finance in its newly opened Nashville, Tenn. office. Melton will run Walker & Dunlop’s Nashville office along with David Strange, who joined the company in December. Melton will focus on multifamily and healthcare loan originations utilizing FHA financing. Prior to joining Walker & Dunlop, Melton was an FHA originator with Deutsche Bank Berkshire Mortgage Inc. He originated loans under all FHA programs during his seven-year tenure with the firm. Prior to Deutsche Bank, Melton was a commercial lender for Fifth Third Bank and First American National…
Economy Watch: Fed Pulls in Tidy Sum, Hands it to U.S. Government
The Federal Reserve gave the U.S. Treasury $76.9 billion in profits in 2011, not quite as much as in 2010, but still a very high total by historical standards.
830-Acre Purchase Paves Way for $2.5B Smart Growth Community
LNR Property LLC, developer of the SouthField master-planned community outside of Boston in Southfield, Mass., has just wrapped up the acquisition of the final 830 acres required to bring the 1,400-acre, $2.5 billion project to fruition.
Enterprise Launches Re-Designed Integrated Website
Columbia, Md. – Celebrating its 30th anniversary year, Enterprise Community Partners Inc., together with Enterprise Community Investment Inc. recently launched a new website that integrates a wealth of information and resources into one interactive and easy-to-navigate portal serving the housing and community development industry. Using the same URL and cloud computing, users are invited to experience the impact of Enterprise’s work across the nation through compelling images and powerful stories that highlight the organization’s expertise across multiple disciplines. Developers, investors, policymakers and many other community development partners will find the latest information, technical resources and tools they need. Innovative features …
Canyon-Johnson Urban Fund Invests in L.A. Development
Canyon-Johnson Urban Fund provided preferred equity capital to the partnership developing One Santa Fe, a $160 million mixed-use project located in LA’s Arts District.
ARA Finance Achieves $1 Billion in Multi-Housing Financings
Atlanta—ARA Finance, a joint venture of ARA and CWCapital LLC, a subsidiary of CW Financial Services, has closed over $1 billion in multi-housing loans. Launched in April of 2009, ARA Finance, through CWCapital, has provided multihousing investors with a full range of mortgage finance services, providing a successful combination of convenience, service and competitive terms. The venture marked the beginning of a new era for ARA which has, since its inception in 2003, focused solely on the brokerage of multi-housing properties on behalf of an array of institutional, REIT and private client sellers. ARA Finance, through CWCapital, originally offered Fannie…
Axiometrics Names Keith Walters Chief Operating Officer
Axiometrics Inc., a provider of data and analysis on the multifamily housing sector, recently announced that Keith Walters has been appointed chief operating officer. Walters was an outside director of Axiometrics prior to becoming the company’s COO. Previously, Walters was president and COO of IT managed services provider Sagiss LLC. While at Sagiss, he led the company through a complete change in its business delivery model, gaining recognition for the company in the MSPMentor 100 as one of the top IT-managed service providers in the U.S. Prior to Sagiss, he served as vice president and general manager of Global Program and…