Business Specialties
Lower Average Loan Sizes Are Likely
Rising interest rates have yet to strongly impact the multifamily market, as specialists are confident the market will continue to see healthy fundamentals in the near future. While loan origination volumes are expected to stay up, the average value of credit facilities might dip.
Hunt Mortgage Procures $44M for Seattle Community
Soma Towers consists of two buildings offering 276 units, of which 20 units are affordable. Soma Towers Phase II was developed by Soma Towers DE LLC, in 2016.
CBRE Closes Sale of Ft. Lauderdale-Area Community
The affordable apartment complex boasts various community amenities including an outdoor swimming pool, sun decks and a fully equipped fitness center.
Tradition Senior Living Enters Houston
The company broke ground on a 316-unit community slated for completion in late 2018. The two-building property will offer a continuum of care, including independent living, assisted living and memory care.
MHN’s Top 5 July 2017 Articles
Miss out on any MHN stories in July? Here are five of our most popular articles for the month, including the top 10 apartment owners in Atlanta and design trends and products from NAA’s Education Conference & Exposition.
St. Paul Eyes 135-Acre Urban Village
A rezoning plan calls for as many as 4,000 residential units on a site owned by Ford, which is expected to be put on the market by early 2018.
Starlight Launches $1.3B Acquisition Drive
The firm will continue to target Class A properties in the South and West through a new partnership with two institutional investors.
Supply Concerns Bypass Securitized Multifamily: KBRA
The bulk of underlying collateral for Freddie Mac and CMBS multifamily loans is Class B and Class C properties, the bond rating agency reports. KBRA forecasts a positive performance for these assets.
East Dallas Townhomes Lands Construction Loan
AHC Funds secured $11.4 million for the first development stage of a 125-unit community in Dallas. Metropolitan Capital Advisors’ Justin Laub negotiated the financing on behalf of the borrower.
Steadfast REIT Purchases $63M Denver Asset
The acquisition of Belmar Villas marked the REIT’s sixth multifamily purchase. The 318-unit community comprises 17 three-story buildings featuring one-, two- and three-bedroom floorplans that will soon undergo renovations.