Marcus & Millichap 2014 Outlook: Refinance Now, Look to Value-Add
Long term fundamentals for the apartment industry are looking strong according to Marcus & Millichap’s 2014 Apartment Market Outlook.
TODAY’S DEALS: Queens Apartment Commands $47.3M
TIAA-CREF sells an Astoria apartment asset; Pathfinder Partners acquires an 18-unit condo in Denver; and CMC arranges a pair of multifamily loans.
MHN Exclusive: Landmark Adds $443M in Assets During 4Q13
The fourth quarter capped an extremely active 2013 for Landmark Apartment Trust of America. Over the course of the year the company acquired close to 16,000 units, representing over $1 billion in transaction value.
TODAY’S DEALS: Azure Partners Buys Newark Towers
HFF brokers a high-rise sale in Newark; Venture West Funding refinances six California apartment buildings; and NorthMarq Capital arranges a $10.7 million Freddie Mac refinancing.
Condo Prices Up in Three Major West Coast Markets
Condo prices increased significantly in downtown Seattle, Los Angeles, and San Francisco over the past year according to a recent report by The Mark Co.
TODAY’S DEALS: Wood Partners JV sells 116-Unit Asset for $50.5M
Intercontinental Real Estate Corp. buys an asset from Wood Partners; NorthMarq Capital arranges $30 million in construction financing for an affordable asset; and HFF closes $14.8 million in permanent financing for a newly-built Massachusetts asset.
Oak Coast Properties Developing West Hollywood Apartment Community
Oak Coast Properties is developing a new 53-unit upscale apartment community in the high barrier market of West Hollywood.
Economy Watch: Federal Government Records Surplus in December
The U.S. Department of Treasury reports the first December surplus ($53.2 billion) since 2007, while the ICSC presents a 3.4 percent gain in chain-store comparable sales for December year-over-year.
MBA Survey: Multifamily Lending Volume Expected to Increase in 2014
A majority of respondents expect loans for CMBS, commercial banks, life companies, and pension funds to increase this year, while loans for Fannie Mae, Freddie Mac and FHA will decrease.
TODAY’S DEALS: Fairfield Residential Acquires Baker Chocolate Factory in Boston
Beacon Communities sells a 133-unit asset in Boston to an affiliate of Fairfield Residential; Levin Realty completes a 559-unit acquisition in Greenville, S.C.; and a 12-unit Manhattan loft building trades for $12 million.