DEAL OF THE DAY: Raintree Acquires Two-Property Portfolio for $65M
Carlsbad and Rancho Peñasquitos, Calif.,–Raintree Partners completed the acquisition of a two-property, multifamily portfolio for $65 million.
DEAL OF THE DAY: NorthMarq Arranges $95.81M Tax-Exempt Bond Securitization for Multifamily Portfolio
Omaha, Neb.–John Reed, vice president of NorthMarq Capital’s Omaha Regional office, arranged a $95.81 million Freddie Mac tax-exempt bond securitization for a national bond portfolio owned by America First Tax Exempt Investors L.P.
DEAL OF THE DAY: Harbor Group Returns to Orlando, Fla. Market with $7.45M Purchase from AIMCO
Orlando, Fla–Harbor Group International L.L.C. (HGI) says that its affiliate has acquired the 164-unit Village Green Apartments for $7.45 million. The property is located in the Altamonte Springs submarket of Orlando, Fla., and is purchased from an affiliate of AIMCO.
‘Foong on Finance’: A Wave of Distressed Properties
Special servicers are so inundated with defaulted loans that often they can barely return borrowers’ calls. But if you think there are a lot of loans defaulting currently, this is not even the peak year of CMBS loan maturities.
INVESTMENT: Helios Capital Transacts More than $40M in Non-Performing Mortgages
Woodbridge, N.J.– Helios Capital LLC, a New Jersey-based commercial loan-advisory firm specializing in small balance non performing commercial loans in the secondary market under $25 million, says that it has completed more than $40 million in commercial loan transactions in N.Y. and N.J. over the past 12 months.
‘Foong on Finance’ with Keat Foong: A Wave of Distressed Properties
The word is that special servicers are so inundated with defaulted loans that often, they can barely return the borrowers’ calls. Well, if you think there are a lot of loans defaulting currently, this is not even the peak year of CMBS loan maturities. According to data from reserach company Trepp, L.L.C., only $9.3 billion in CMBS loans are maturing this year—compared to $44.7 billion in 2011 and $57.6 billion in 2010! “The real refinancing hurdle for the market will not take place until the 2015 to 2017 time period,” says Paul Mancuso, vice president of product management. “During this…
DEAL OF THE DAY: George Smith Arranges $112M 223(f) Refi at 3.75% Interest, 80% LTV
Santa Clarita, Calif.–Commercial real estate investment banking firm George Smith Partners (GSP) arranged the refinance of a multifamily property, The Colony Townhomes, in Santa Clarita, Calif., utilizing HUD’s 223(f) program.
DEAL OF THE DAY: Chozick Realty Brokers Sale of Property for $7.05M
Bloomfield, Conn.- Rick Chozick and Ryan Perkoski of Hartford based Chozick Realty Inc. arranged the sale of Wedgewood Apartments, located in Bloomfield, Conn. for $7,050,000.
‘Foong on Finance’: Historic Preservation Awards
The National Housing & Rehabilitation Association (NHRA) in association with the National Trust Community Investment Corp. has honored eight historic buildings in its annual awards ceremony.
DEAL OF THE DAY: Arbor Closes $2.7M Refinance for Small Loan
Mankato, Minn. – Arbor Commercial Funding, LLC recently funded a $2,866,500 mortgage under the Fannie Mae DUS Small Loan product line for the 70-unit complex known as Village Place Apartments in Mankato, Minn. The 10-year loan amortizes on a 30-year schedule.