6th Annual MHN Capital Choice Awards 2008
Despite all of the fluctuations in today’s economy, multifamily housing developers still need funding sources for their deals. The winners of our 6th Annual Capital Choice Awards represent excellent choices in terms of where to start that funding search. The companies shown here represent the leading edge in a fast-changing landscape. You and your peers have voted these lenders as the “best of the best” at providing valuable services, speed of processing, flexibility of terms, scope of loan products offered, and the quality of loan servicing. Some of the financial institutions listed here have been bought by larger banks. We…
Cornerstone Group Delivers First Building in Second Phase of Townhome Community
The Cornerstone Group has announced the delivery of the first building in the second phase of construction at Preserve at Boynton Beach, a 180-unit townhome and villa community.
Organization Launches $4B Green Initiative for Affordable Housing
The green movement in commercial real estate has caught on like wildfire and even with the recession having left most clutching their pocketbooks, it continues to spread. Now Columbia, Md.-based Enterprise Community Investment Inc. plans to take the trend to new heights with the kicking off its $4 billion Green Communities initiative, which is designed to propel the greening of affordable housing development across the country. Enterprise, a development capital and solutions provider for affordable housing, leverages low-income housing, new markets and historic rehabilitation tax credits, as well as short and long-term debt to finance development and retrofitting projects. The…
Renters Are Willing to Pay More Rent for Additional Security Amenities
Renters seek a safe haven when searching for an apartment. According to a national Apartments.com survey—conducted during national crime prevention month—96 percent of respondents said neighborhood crime rate influences where they choose to live.
CPC Closes $2.16M Permanent Loan to Refinance 3-Story Rental Building
New York–The Community Preservation Corporation (CPC) recently closed on a $2.16 million permanent loan to refinance a newly constructed three-story rental building in the Parkville section of Brooklyn.
The property, located at 315 Foster Ave. between Seton Place and East 5th St., features nine, 1,005-square-foot two-bedroom units each with two bathrooms, separate dining areas, radiant heat and modern kitchens with granite countertops, hardwood floors and stainless steel appliances. Market rents are affordable to families at 110 percent of Area Median Income.
Somerville Landfill Redevelopment Project Receives BDA Designation from N.J. Department of Environmental Protection
Whitman, one of New Jersey’s leading environmental and engineering management firms, has announced that the Somerville landfill redevelopment project has been designated a Brownfield Development Area (BDA) by the New Jersey Department of Environmental Protection (NJDEP).
TODAY’S DEAL: NorthMarq Capital Arranges $60Million A/B Note Bridge Financing for 446-Unit Rental Community
NorthMarq Capital’s (NorthMarq) Washington, DC office has arranged A/B Note bridge financing of $60 million for the 446-unit Highlands at Dearborn Apartments located in Boston.