DEAL OF THE DAY: NorthMarq Arranges $7.6M Mortgage via AmeriSphere Affiliate
Richfield, Minn.–NorthMarq Capital’s Minneapolis regional office arranged first mortgage financing of $7.6 million for The Oaks on Pleasant.
DEAL OF THE DAY: Transwestern Arranges Sale of Waco’s Largest Apartment Complex
Transwestern’s Austin Multifamily Group has brokered the sale of the Sanger Oaks Apartments in Waco, Texas.
DEAL OF THE DAY: Arbor Closes $17,882,500 Fannie Mae Loan at 5.68% Interest
Fairview Heights, Ill.–Arbor Commercial Funding LLC recently funded a $17,882,500 loan under the Fannie Mae DUS product line for the 252-unit complex Longacre Ponds in Fairview Heights, Ill.
‘Foong on Finance’ with Keat Foong: New Real Estate Investment Fund
There is plenty of private funds seeking below-market properties to scoop up. Recently, GoldOller Real Estate Investments formed a new real estate investment fund to invest opportunistic and value added opportunities east of the Mississippi.
DEAL OF THE DAY: HFF Obtains $26.5M Construction Loan for Downtown Apt. Development
Oakland, Calif.–The Los Angeles and San Francisco offices of HFF (Holliday Fenoglio Fowler L.P.) have arranged a $26.5 million construction loan for City Walk, a 264-unit, transit-oriented multi-housing project in Oakland, Calif.
DEAL OF THE DAY: Mixed-Use Property Purchased at 7.2% Cap
Portland, Ore.–An investor has purchased the Box & One, two mixed-use buildings at 2724-2728 SE Ankeny, in Portland, Ore., for $1.7 million.
DEAL OF THE DAY: ARA Finds 1.01-Acre Site in Houston for Pelican Builders
Houston–Atlanta-headquartered Apartment Realty Advisors (ARA) brokered the sale of a 1.01 acre land site located in Houston.
DEAL OF THE DAY: Hendricks & Partners Closes on $4.6M Sale
Hendricks & Partners brokered the $4,600,000 sale of the 268-unit Alpine Lake, located at 665 North Alpine Lake Drive.
‘Foong on Finance with Keat Foong’: Spread the News: President Obama Wants to Privatize Public Housing
Whether you are for or against it, would anyone be really surprised if President Obama tries to privatize social security, or impose regressive VAT taxation, down the road? For now, President Obama wants to privatize public housing. That is one interpretation of his Preservation, Enhancement and Transformation of Rental Assistance Act (PETRA). PETRA proposes to convert public housing—on a voluntary basis, it is emphasized—to project-based Section 8. This may be a boon to private multifamily owners and developers. Bankers also stand to benefit under the Act. Think of the immense, publicly owned, housing stock that is at stake. As they say,…
Should You Invest in the TALF Program?
Multifamily and commercial real estate players may want to consider participating in this government financing program. The rewards are tempting.