“Foong on Finance” with Keat Foong: Gladwell Speaks at Colliers Event
Colliers held its first annual Global Leadership Summit in Manhattan recently. The three-day meeting, which brought together clients and Colliers brokers from all over the world, concluded with a talk by best-selling author Malcolm Gladwell at the Jazz at Lincoln Center theater. Collier’s recent Global Leadership Summit consisted of high-level strategy sessions and client meetings. Douglas Frye, global CEO of Colliers International, said, when introducing Gladwell, that the investment sales industry would need a different approach in the next three years.
DEAL OF THE DAY: Arbor Closes $22M Fannie Mae DUS Loan for Apartment Complex
Arbor Commercial Funding LLC announced the recent funding of a $22,000,000 loan under the Fannie Mae DUS product line for the 302-unit complex known as Brook Arbor Apartments in Cary, N.C.
Selling Standards
Companies have reasons to abide by common rules when reporting real estate investment performance.
DEAL OF THE DAY: HFF secures $23.13M Refi Loan for AMLI
Dallas–HFF has secured $23.13 million in financing for AMLI at Bryan Place.
DEAL OF THE DAY: Walker & Dunlop Navigates Complex Leasehold Refi Loan
Lancaster, Pa. Walker & Dunlop provided a refinance loan of the leasehold interest on the Bentley Ridge Apartments located in Lancaster, Pa. The loan was structured with a 10-year term and a 30-year amortization. Walker & Dunlop says it was able to leverage over 20 years of Fannie Mae Multifamily underwriting experience in order to quickly address all issues involved with the transaction, including Fannie Mae leasehold guidelines, to position the borrower to lock in a low interest rate. Greg Cassel of High Real Estate Group, LLC comments, “We appreciate the opportunity provided to us by Walker & Dunlop in…
DEAL OF THE DAY: Marcus & Millichap Brokers Largest Exchange Funding Transaction in Texas Under American Recovery and Reinvestment Act
Austin–Marcus & Millichap Real Estate Investment Services brokered the sale of Malibu Apartments, a 218,600-square foot, 476-unit multifamily property in Austin.
DEAL OF THE DAY: Arbor Completes $9.5M Fannie Mae Refi Loan
Raleigh, N.C.–Arbor Commercial Funding LLC recently funded a $9,500,000 loan under the Fannie Mae DUS.
‘Foong on Finance with Keat Foong’: The Government Presents Plan to End Homelessness
The U.S. Interagency Council on Homelessness (USICH) has put forth its plan to end homelessness. The USICH was mandated by the HEARTH Act, enacted by Congress in May 2009, to present a “national strategic plan” to end homelessness to Congress and the President. The plan puts forward strategies to end homelessness among veterans and the chronic homeless by 2015, and homelessness among children, family and youth by 2020. Sheila Crowley, president of the National Low Income Housing Coalition, said that her organization looked forward to working with the Administration this year to “identify funding sources” to help communities provide…
DEAL OF THE DAY: Raymond James Tax Credit Funds Partners with Capital One Bank To Provide $13.8M for Houston Affordable Apartments
Houston–Raymond James Tax Credit Funds partnered with Capital One Bank to provide $13.8 million in housing tax credit equity.
DEAL OF THE DAY: NorthMarq Arranges $6.6M in Permanent Financing for Apartments
Tulsa, Okla.–NorthMarq arranged permanent financing of $6,637,500 for the Summer Stone Duplexes.