Gimme Shelter with Daniel Gehman: Sounds Crazy, but It Just Might Work
Like almost every other facet of development, the protracted process of obtaining project approval is not for beginners or the faint of heart.
DEAL OF THE DAY: Colliers Represents Hamilton Zanze in $9.7M Sale
Mesa, Ariz.–Colliers International-Greater Phoenix negotiated the sale of Sorrento Apartments, a 226-unit multifamily property located at 901 South Dobson Road in Mesa, Ariz., for $9.7 million or $42,920 per unit.
INVESTMENTS: Jones Lang LaSalle Offers Class A West Houston Apt. Property for Sale
Houston–Jones Lang LaSalle says its capital markets experts have been retained by Investment Realty Holdings LLC
DEAL OF THE DAY: USAA Buys New, 100% Leased, Apartment Property from Wood Partners
Orlando, Fla.– USAA Real Estate Company announces the purchase of Patterson Court, a Class-A multifamily community located in Little Lake Bryan, a master development in Orlando, Fla. The property was purchased from Atlanta-based Wood Partners.
‘Foong on Finance’ with Keat Foong: Looking Up
Is a disconnect developing between the level of unemployment and the health of commercial real estate? The nation’s unemployment rate remains stuck at about 20 percent, if you take into account people who have given up looking for a job or are working part time because they cannot find full-time employment. At the same time, many sectors of the commercial real estate industry are starting to look good, with the multifamily sector leading the way: Apartment occupancies have been rebounding rapidly across the board, in both top and bottom markets alike. At the National Association of Real Estate investment Trusts…
DEAL OF THE DAY: RED Provides $36M in Fannie Mae DUS Financing for Randall Realty’s West Coast Properties
Columbus, Ohio–Red Mortgage Capital, LLC, one of the nation’s top Fannie Mae DUS lenders and the mortgage banking arm of comprehensive capital provider, Red Capital Group, structured Fannie Mae DUS multifamily financings for The Randall Group.
SPECIAL REPORT: Real Estate Companies See Businesses Strengthening Despite High Unemployment Levels, Cite ‘Unprecedented’ Availability of Capital
New York– Commercial real estate executives expressed growing optimism about their businesses although U.S. employment growth is expected to remain weak through 2011.
DEAL OF THE DAY: NorthMarq Arranges $44M Mortgage at 4.04% Interest on Behalf of Amli
Woodridge, Ill.–Frank Relihan, vice president, Kenneth Gentzel, senior vice president and managing director and Gary McGlynn, senior vice president and managing director of NorthMarq’s Washington, DC Regional office arranged first mortgage financing of $44 million for AMLI at Seven Bridges, a 520-unit multifamily complex located at 6566 Double Eagle Drive in Woodridge, Ill.
DEAL OF THE DAY: KeyBank Provides $106M in Seniors Housing Financing in New Jersey
East Brunswick, N.J.–KeyBank Real Estate Capital provided $106.7 million in Freddie Mac funding for seven assisted living and age-restricted communities in New Jersey.
DEAL OF THE DAY: Stalled Condo Project in Scottsdale, Ariz. Sells for $237,800 Per Unit
Scottsdale, Ariz.–Hendricks and Partners brokered the sale of the former condo project Ten Wine Lofts, located at 7126 E. Osborn Road in Scottsdale, Ariz.