TODAY’S DEALS: Cornerstone Acquires Baltimore Apartment from The DSF Group
HFF brokers the sale of a 14-story high-rise in Baltimore; Berkadia provides $28 million for two Texas acquisitions; and RED closes a $26.2 million seniors housing construction loan.
George Smith Partners Secures Construction Loan for Las Vegas Property
George Smith Partners has arranged $51 million in construction financing for a 360-unit asset in Las Vegas. The developer is a joint venture between The Calida Group and Cypress Equity Investments.
Economy Watch: Mortgage Delinquencies Closer to “Normal” Levels
The MBA reports a decrease in residential delinquencies, while Bureau of Labor stats show that the the Consumer Price Index increased 0.1 percent in January.
Ivanhoé Cambridge Invests in Quebec City Mixed-Use Development
Ivanhoé Cambridge has entered into a partnership to build Projet QB, a mixed-use complex that will feature more than 400 rental units and 200 condominiums in the Cité-Universitaire district of Quebec City.
IMMOFINANZ-Owned BUWOG to Buy 18K-Unit Portfolio in Germany for $1B
BUWOG is giving the German multifamily market a boost by acquiring an 18,000-unit portfolio in Germany and Austria for $1.2 billion.
MARKET SNAPSHOT: Dallas-Fort Worth Growth Poised to Continue
The Dallas/Fort Worth multifamily market continued to grow in the fourth quarter of 2013. Asking rents edged up, and the vacancy rates declined, creating a favorable context for multifamily to thrive.
TODAY’S DEALS: KBS Legacy Partners Acquires 240-Unit Asset in North Carolina
KBS Legacy Partners completes a $28 million apartment acquisition; The RADCO Companies picks up a 297-unit multifamily property in Atlanta; and NorthMarq Capital finalizes the $10.2 million refinancing of a USC student housing portfolio.
Economy Watch: Home Starts Take a Dip in January
Housing starts drop 16 percent in January, and the Fed releases minutes hinting that tapering will continue at the slow pace previously seen.
CBRE Global Investors Buys 330-Unit Apartment Complex in Atlanta from Equity Residential
CBRE Global Investors has boosted its Atlanta multifamily portfolio with the purchase of Alexander on Ponce, a 330-unit apartment complex in the city’s Midtown submarket, from Equity Residential.
Pembrook Originates Acquisition, Renovation Financing for Denver-Area Apts.
Pembrook Capital Management originates an $18.6 million bridge loan to facilitate the sale of Mountain Vista, a 257-unit multifamily property located in the Denver suburb of Lakewood.