‘Foong on Finance’ with Keat Foong: 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. The properties are located in Rhode Island, Massachusetts, New York, Maryland, Kentucky and Iowa. The awards were presented at NHRA’s Fall Developers Forum. “It is a privilege to honor these innovators who are so skilled at preserving the charm and values of the past in their communities while at the same time providing housing and economic development that fulfill contemporary needs,” says Thom Amdur, executive director of NHRA. One of the winners was a…
DEAL OF THE DAY: Wood Partners and Area Property Acquires Condo Construction in Miami
Miami–Wood Partners and AREA Property Partners have closed on the acquisition of Terrazas River Park Village, a 324-unit Class A property along the Miami River.
DEAL OF THE DAY: Berkadia Originates $7.5M Refi for Mixed-Use Property on Behalf of ING Financial
Santa Cruz, Calif.–Berkadia Commercial Mortgage originated $7,500,000 in permanent, fixed-rate debt for the refinance of 1200 Pacific Avenue, a mixed-use property in Santa Cruz, Calif.
‘Foong on Finance’: Foreclosure Fears
There is now bubbling under the surface the possibility of another banking crisis, a home foreclosure-generated crisis.
DEAL OF THE DAY: HFF brokers $70.1M Sale of Washington, D.C. Property to Home Properties
Fairfax, Va.–The Washington, D.C. office of HFF (Holliday Fenoglio Fowler L.P.) closed the sale of The Courts at Fair Oaks, a 364-unit, luxury multi-housing community in Fairfax, Va., known prior to the sale as The Point at Fairfax.
‘Foong on Finance’ with Keat Foong: Foreclosure Fears
There is now bubbling under the surface the possibility of another banking crisis, a home foreclosure-generated crisis. Big banks that face possible legal action from mortgage bond investors for improper mortgage documentation have seen their shares drop last week. There are fears they will be forced to buy back the mortgage bonds from the investors. The root of the problem: foreclosures have been improperly filed by the servicers, and/or servicers cannot produce the mortgage documents that they were required to keep. But there are calls for foreclosure moratoriums also because some homeowners are also being erroneously foreclosed on by the…
DEAL OF THE DAY: ARA Brokers Sale by Lender of 1,398-Unit Portfolio in Denver
Denver–ARA brokered the sale of three-property, 1,398-unit multifamily portfolio in metro Denver. The buyer, Jackson Square Partners, a California-based apartment investment group, purchased the portfolio for $62,000,000.
DEAL OF THE DAY: Arbor Closes $4.56M Fannie Mae 3Max Loan to Rent-Controlled Property
Bronx, N.Y.–Arbor Commercial Funding LLC recently funded a $4,560,000 loan under the Fannie Mae 3Max product line for the 60-unit complex known as 655 East 233rd Street Apartments in Bronx, NY.
DEAL OF THE DAY: Sperry Van Ness Brokers Sale of Two Apartment Properties for $3.055M
Jefferson, Wis.–Sperry Van Ness represented the seller in the sale of two apartment properties here for $3,055,000.
DEAL OF THE DAY: Behringer Harvard Acquires Town Center-Style Property Built in 2008
Atlanta– Behringer Harvard acquired The Reserve at Lavista Walk, a luxury multifamily community comprising 283 apartment homes located immediately south of the exclusive Buckhead district near major employment centers in Midtown and Downtown Atlanta.