Freddie Mac Singles Out Top 2013 Multifamily Lenders
After a year that saw Freddie Mac settle nearly $26 billion in new multifamily volume, its second largest figure ever following a banner 2012, the GSE announces its top lenders for 2013.
Luxury TF Cornerstone Condo in L.I.C. Reaches Full Occupancy
The View, a luxury condo in the Queens neighborhood of Long Island City, has reached 100 percent occupancy. Modern Spaces handled sales.
TODAY’S DEALS: Virtú Investments Enters Colorado with $16.6M Apartment Acquisition
Virtú Investments buys a 186-unit asset in Castle Rock, Colo.; Trade Street closes on a $75 million credit facility; and IPA sells a development site in Manhattan’s Hudson Yards subdistrict.
Economy Watch: Investors Head for the Exits
While investors continue to stare down a potential market correction, good news in the multifamily sector comes from the NAHB’s 55+ Housing Market Index and the Census Bureau.
BofA Merrill Lynch Increases Community Development Lending by 25 Percent
Bank of America Merrill Lynch’s Community Development Banking business finalized about $3.3 billion in loans, tax credit equity investments, and other real estate development mechanisms in 2013, roughly 25 percent more than during 2012.
TODAY’S DEALS: Sares Regis Grabs an Oregon Asset
Belkorp Industries sells a 129-unit asset to Sares Regis; and Pembrook Capital closes two bridge loans totaling nearly $19 million.
Carter Breaks Ground on Texas Student Housing Asset
Carter has broken ground on a 198-unit, 590-bed student housing community near the University of Texas at San Antonio.
Economy Watch: Personal Income, Consumption Rise in December
The Bureau of Economic Analysis reports that personal income ticked up in December, though the Reuters /University of Michigan sentiment index shows that consumers are a bit more glum.
Ismael Leyva to Design Manhattan Student Housing for School of Visual Arts
Magnum Real Estate Group has tapped Ismael Leyva Architects to design the new School of Visual Arts dormitory at 407 First Ave. in Manhattan.
TODAY’S DEALS: HFF Arranges Construction Financing for Boston Condo
HFF arranges construction financing for a luxury condo development in Boston’s Seaport District; Marcus & Millichap closes two Illinois transactions; and Franklin Street brokers the sale of three communities in South Florida to foreign buyers.