TODAY’S DEALS: Cohen Financial Obtains Lower Interest for $8.7M Loan
Cohen Financial arranges an $8.7M loan for the acquisition of Marcus Pointe apartments, and CT Realty and WLCM’s joint venture acquires a cluster of value-added opportunities for $10M.
TODAY’S DEALS: Marcus & Millichap Brokers Sale of Apartments in North Hollywood
Marcus & Millichap brokers sale of the Morrison Apartments in North Hollywood, and Bay Apartment Advisors oversees an apartment sale in Oakland, Calif. for $134K per unit.
Commercial Real Estate Has Not Truly Recovered, Says Trepp
Trepp LLC estimates that delinquencies, which have been falling in the latter part of last year, will decline slightly in the first quarter.
Governmental Impediments to Urban Development
Fiscal realities at all levels of government may put a brake on smart urban development, such as resistance to high-speed rail systems and the abolishment of TIFs.
‘Foong on Finance’: Commercial Real Estate Has Not Truly Recovered, Says Trepp
Both residential and commercial real estate may still be marked by weak growth. GDP growth has dropped to 1.8 percent in the first quarter, according to government estimates released this week. And there has been an unexpected rise in the number of unemployment claims. Now, Trepp LLC maintains that the recently improving numbers for delinquencies in commercial and residential real estate loans held by banks may be reversing itself. Trepp estimates that delinquencies, which have been falling in the latter part of last year, will decline slightly in the first quarter. “Our detailed research through earnings reports and call report…
Cuts in HUD Funding Mean Less Housing for the Needy
This week, the House passed FY 2011 Continuing Appropriations Act (HR 1473) to fund the federal government for this fiscal year. The shrinkage in the federal budget, amounting to $2.8 billion in HUD program funding, will result in low-income households losing access to affordable housing.”
‘Foong on Finance’: Cuts in HUD Funding Mean Less Housing for the Needy
This week, the House passed FY 2011 Continuing Appropriations Act (HR 1473) to fund the federal government for this fiscal year. Altogether, $38 billion in federal spending cuts have been passed. HUD’s budget, which was $46.9 billion in FY2010, is cut by 6.4 percent for this fiscal year. Funding for the HOME block grant program for developing low-income housing, and the Community Development Block Grant program, will be reduced. The budgets for the Section 8 voucher and project based programs will see some increases, though less than the President requested. The shrinkage in the federal budget, “amounting to $2.8 billion in…
‘Gimme Shelter’ with Daniel Gehman: Same-Day GB/GO–Feels Like Good Times
With unemployment dropping, money finally becoming available, and construction remaining on sale, there’s a window of opportunity in the multifamily space unlike anything we’ve seen in a while.
‘The Accidental Economist’ with Jack Kern: Provando et Riprovando
It seems the Fed will aver to the position of maintaining the final phase of QE2, the last part of the current round of expansionary monetary policy started near the end of last year.
‘The Accidental Economist’ with Jack Kern: 60 Is the New 60
This booming cluster of future renters–seniors–is becoming a more important force in property management, and yet we still see the focus on Gen Y.