Business Specialties
ULI and Enterprise Release Comprehensive Affordable Housing Solutions Report
The supply gap between affordable rental units and extremely low-income renters continues to widen. ULI and Enterprise Community Partners address the issues surrounding the availability of affordable housing in their new report: Bending the Cost Curve.
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.
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.
Enterprise Finishes 2013 by Closing 11 Affordable Housing Syndication Deals
Affordable housing finance and investment organization Enterprise Community Investments Inc. wrapped up 2013 with 11 new LIHTC-financed developments and rehabs.
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.
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.
JLL: Sunbelt Cities to Shine, Despite Heavy Delivery Pipeline
JLL’s 2014 Multifamily Outlook picks 14 markets where oversupply is not an option. A disproportionate number are Sunbelt cities.
Freddie Mac Chalks Up Second-Largest Year in Multifamily in ’13
Freddie Mac’s volume in the multifamily space was $25.9 billion in 2013, the second largest annual total for the GSE.
Oak Grove Capital Posts Record-Breaking Year
Oak Grove Capital provided $1.7 billion of affordable, market rate and seniors housing financing in 2013, a 16 percent increase over 2012 loan production.