DEAL OF THE DAY: NorthMarq Arranges $19.8M First Mortgage for 300-Unit Property
David Farrell, senior vice president and managing director of NorthMarq Capital’s Kansas City Regional office, arranged first mortgage financing of $19.8 million for Schoettler Village, a 300-unit multifamily complex located in Chesterfield, Mo.
DEAL OF THE DAY: HFF Brokers Sale of Beachfront Redevelopment Site to Related Group’s Perez
The Miami office of HFF (Holliday Fenoglio Fowler LP) has closed a joint venture and sale of the former Ireland’s Inn beachfront redevelopment site in Ft. Lauderdale, Fla. for $27.1M to investors including Jorge Perez of The Related Group.
DEAL OF THE DAY: Arbor Participates in Small Loans Space with $688,000 Financing
Arbor Commercial Funding LLC recently funded a $688,000 loan under the Fannie Mae DUS Small Loan product line for the 17-unit complex known as Cedar Brook Apartments in Portland, Ore.
INSIDE THE DEAL: Beech Street Capital provides $1.6M Fannie Mae Permanent Loan
Beech Street Capital, LLC provided a $1.6 million fixed-rate loan for the refinance of Steven’s Walk Apartments. The transaction was originated by Beech Street Capital under the Fannie Mae DUS Small Loan program.
DEAL OF THE DAY: Raymond James to Supply $12M in LIHTC Equity
Raymond James Tax Credit Funds says it will provide nearly $12 million in Low Income Housing Tax Credit (LIHTC) equity for the construction of a multi-family housing development located in Tuscaloosa, Ala.
‘Foong on Finance’ with Keat Foong: Centerline’s Schnitzer to Head New Venture
As we know, prices for Low Income Housing Tax Credits (LIHTC) have come down considerably. Marc Schnitzer is making a move to help players take advantage of what can be a great time to invest in LIHTC properties. Schnitzer, Centerline Capital Group’s CEO and president, is leaving Centerline to join an affiliate of Island Capital Group LLC. At his new company, Schnitzer will establish and lead a business venture to help investors take advantage of the favorable terms in the Low Income Housing Tax Credit market. “Tax credit market conditions have created unique opportunities for savvy investors to take advantage of historically…
DEAL OF THE DAY: Great Lakes Financial Completes $11.2M Financing for Seniors Preservation Project
Great Lakes Financial Group LP closed a preservation deal through the MSHDA Tax-Exempt Direct Loan Program with Longfellow Apartments, a 149-unit residential, active adult apartment building development for $3,874,000.
DEAL OF THE DAY: Walker & Dunlop Closes $45.6M Fannie Mae Refi Loan
Walker & Dunlop provided a $45,600,000 loan for The Presidio complex
DEAL OF THE DAY: NorthMarq Capital Arranges $7.24M 2-Year-Interest-Only Mortgage
Greg Duvall, senior vice president and senior director of NorthMarq Capital’s Kansas City Regional office, arranged a first mortgage of $7,237,500 for Highland Ridge Apartments, a 219-unit multifamily complex located in Atlanta.
INVESTMENT: Eastern Consolidates Tapped to Exclusively Market Coop Buildings at Asking Price of $7.65M
A portfolio of 43 occupied cooperative apartments, 34 of which are located at the Towers at Water’s Edge luxury co-op community in Bayside, Queens, N.Y.; six in two elevator buildings in Jackson Heights and Forest Hills, N.Y.; and three in Manhattan’s historic Gramercy Park neighborhood, is on the market for sale at an asking price of $7.65 million.