DEAL OF THE DAY: Charles Dunn Represents Buyer in $1.9M REO Sale by Citibank
Los Angeles–Michel Hibbert of Charles Dunn Company negotiated a $1.9 million sale of a 19-unit apartment complex in Los Angeles.
DEAL OF THE DAY: Cushman & Wakefield Facilitates Loan Transaction in Las Vegas
Las Vegas–Cushman & Wakefield multifamily specialists Ed Rosen, John Chu and Alejandro Lombrozo have facilitated the sale of the loan on Carefree Willows, a senior living apartment community.
DEAL OF THE DAY: HFF Arranges 4.66% Acquisition Loan for Purchase of Property Foreclosed by Freddie Mac
Jacksonville, Fla.–HFF has secured financing for Waterford at Mandarin, a 432-unit multi-housing community in Jacksonville.
‘Foong on Finance’ with Keat Foong: Staying Alive
The final proposal from the National Commission on Fiscal Responsibility and Reform was shot down at the end of this week. But don’t worry, at least some Republican and Democratic lawmakers, as well as probably the President himself, are eager to keep the the package’s ideas alive through next year. Recommendations from the President Obama-appointed co-chairs include: eliminating or limiting the mortgage interest deduction, taxing dividends and capital gains as ordinary income‑and eliminating the Low Income Housing Tax Credit. The proposal of the National Commission on Fiscal Responsibility and Reform co-chairs got only 11 votes, not the supermajority 14 votes…
‘Foong on Finance’: Staying Alive
The final proposal from the National Commission on Fiscal Responsibility and Reform was shot down at the end of this week. But don’t worry, at least some Republican and Democratic lawmakers, as well as probably the President himself, are eager to keep the the package’s ideas alive through next year.
DEAL OF THE DAY: E&G Group Awarded LIHTC Project by Washington, D.C. Housing Department
Washington, D.C.–E&G Group, LLC and its principals have completed the purchase of five properties in Washington, D.C. from five limited equity cooperatives.
DEAL OF THE DAY: Bell Partners Fund Purchases Apartment Property
Chesapeake, Va.–Bell Partners Inc. has joined with a group of high net-worth ownership entities to purchase the 192-unit Alta Great Bridge Apartments in Chesapeake, Va.
DEAL OF THE DAY: Arbor Replaces Mortgage with $1.33 Fannie Mae Small Loan at More Favorable Terms
Brookhaven, Miss.–Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,332,500 loan under the Fannie Mae DUS Small Loan product line for the 96-unit complex known as Lakeview Arms Apartments in Brookhaven, Miss. The 10-year loan amortizes on a 30-year schedule.
Impediments of Aging Affordable Housing
Industry experts face up to the issues presented by the nation’s older stock of affordable housing.
DEAL OF THE DAY: Berkadia Advances $42.66M Freddie Mac Capital Markets Loan for Acquisition
San Diego–Berkadia Commercial Mortgage originated a total of $42,660,000 in fixed-rate debt through the Freddie Mac Capital Markets Execution (CME) program for the acquisition of Canyon Hills and Flower Fields, two multifamily properties in San Diego County.