DEAL OF THE DAY: George Smith Supplies Large, $32M, Construction Loan to Buyer to Complete Multifamily Project
Hollywood, Calif.–George Smith Partners, on behalf of an institutional client, completed a $32 million multifamily construction loan transaction.
‘Foong on Finance’ with Keat Foong: Free Marketers vs. Fannie and Freddie
The high-power summit organized by the Treasury Department to discuss the future of Fannie and Freddie occurred this week, yesterday. It seems to be the tendency of 21st Century Big Money to have a ideological opposition to “Big Government.” But in this case, homeowners and renters are lucky because industry is coming out in favor of government support, as in government support for the mortgage finance system. Free Marketers are not so pro-Free Market when the government support also helps them. It is a fundamental fact of human society that certain things cannot be handled by the Free Market. And…
DEAL OF THE DAY: Berkadia Originates $8.01M Construction Loan Via Credit Union
Arlington, Texas–Berkadia Commercial Mortgage originated a loan via a local credit union for the construction of a student housing community in Arlington.
DEAL OF THE DAY: Local Buyer Snaps Up Class B Property, Seller Provides Secondary Loan
Beaumont, Texas — Atlanta-headquartered ARA arranged the sale of Greentree Village Apartments in Beaumont, Texas.
DEAL OF THE DAY: CBRE Brokers FDIC’s $24.8M Sale of Former Condos to Tax Credit Housing Developer
CB Richard Ellis Group arranged the sale of the Argent, a 96-unit 91,483 square foot mid-rise apartment complex located at 1200 Blair Mill Road in Silver Spring, Md.
DEAL OF THE DAY: Mesa West Supplies $12.5M through its Fund for Acquisition and Lease Up of New Multifamily Property
Woodinville, Wash.–Mesa West Capital has provided an affiliate of Pacific Property Co. and JP Morgan Investment Management with $12.5 million in first mortgage financing.
DEAL OF THE DAY: WRH Realty Acquires Garden Apartments in Palm Harbor, Fla.
WRH Realty Services, Inc. completed the acquisition of Landings at Boot Ranch Apartments in Palm Harbor, Fla.
‘Foong on Finance’ with Keat Foong: Low Rates! Hurrah!!
There was news this morning of a new wave of economic pessimism: exports have fallen and the possibility grows that the 2.4 percent second quarter GDP growth figure could be revised lower. And the accompanying news was that the yield on the benchmark 10-year Treasury bills had fallen back further, to 2.69 percent. Recently, the yield has been in the 2.90 percent range, and we thought that was low (albeit higher than the low-2 percent levels reached during the depths of the financial crisis in late-2008/early-2009). Just as I was getting ready to submit a blog today on this subject, I…
DEAL OF THE DAY: Raintree Partners Acquired Three Properties in Calif. For $30.6M
Pomona, Calif.–Investor and developer Raintree Partners has acquired a portfolio of three multifamily properties.
DEAL OF THE DAY: Alliant Capital Completes $7.4M Refinance for Maturing CMBS Loan
Marion, Iowa –Alliant Capital LLC has refinanced the Regal Townhomes in Marion, Iowa.