DEAL OF THE DAY: Prudential Mortgage Capital Provides $26.9M Perm for Newly Built Property
Elkridge, Md.–Prudential Mortgage Capital Co. closed a $26.9 million permanent loan on behalf of Fannie Mae for Penniman Park Apartments, a newly constructed rental apartment located in Elkridge, Md.
How to Design Affordable Small-Lot Housing in Urban Areas
Small-lot infill housing has become more ubiquitous in urban areas such as New York City as developers seek to cash in on trendy older neighborhoods. Architect Carmi Bee describes his development and application of contemporary prototypes for such housing.
‘Foong on Finance’: Will the Deficit Commission Propose to Eliminate the LIHTC Program?
The chairmen of the president’s commission to reduce the federal deficit released their proposals yesterday.
SPECIAL REPORT: Experts Forecast Stronger Market Conditions Despite Weak Job Growth
New York–Companies may finally be feeling comfortable enough again to begin to play a strong role in supporting the economy.
DEAL OF THE DAY: Kislak Markets and Sell Foreclosed and Renovated Property for $13.5M
Lindenwold, N.J.–The Kislak Company, Inc. announced the sale of Emerald Ridge Apartments, a 376-unit property in Lindenwold, N.J. that sold for $13,500,000. Vice president Matt Weilheimer handled the sale.
‘Foong on Finance’ with Keat Foong: Will the Deficit Commission Propose to Eliminate the LIHTC Program?
The chairmen of the president’s commission to reduce the federal deficit released their proposals yesterday. Meanwhile, the release of the full committee’s recommendations is scheduled for Dec. 1. Congress is expected to vote on the recommendations. Some say the commission’s package of proposals to reduce the federal deficit would include recommendations to shelve the Low Income Housing Tax Credit program.
DEAL OF THE DAY: Tikijian Represents Seller Who Purchased Mortgage Note and Negotiated Deed in Lieu
Indianapolis–Tikijian Associates participated in the sale of Presidential Estates Apartments, a 255-unit community located on Indianapolis’ far north side. Presidential Estates was listed for $6,750,000, and the sale closed in Ocotber.
DEAL OF THE DAY: Harrison Street Real Estate Capital Sells Three Student Housing Communities in Partner’s IPO
Chicago–Harrison Street Real Estate Capital LLC, a real estate private equity firm based in Chicago, has announced the disposition of HSRE’s entire interest in three student housing communities, totaling a combined 528 units and 1,488 beds, in connection with the initial public offering of Campus Crest Communities Inc.
Affordable Housing Architecture Strives for Creativity
Architecture from the New York City-based firms Meltzer/Mandl Architects and RKT&B Architects show that affordable housing design doesn’t have to be boring or unappealing despite budget limitations.
DEAL OF THE DAY: Deutsche Bank Berkshire Mortgage Provides $161.45M Loan for Acquisition of 11 Properties
Boston–Deutsche Bank Berkshire Mortgage (DBBM) recently provided a fund managed by Eaton Vance Management with a $161,450,000 loan to acquire a pool of 11 multifamily properties located across seven states.