Business Specialties
TODAY’S DEALS: Largo Arranges Construction Financing for Buffalo Redevelopment
Largo Group of Companies provides construction to permanent financing for a mixed-used redevelopment in Buffalo, N.Y.; PointOne initiates a value-add play with a $12.8 million acquisition in Georgia; and NorthMarq Capital arranges $15.5 million in refinances.
Arbor Appoints Patrick Boyle as Vice President
Uniondale, NY—Arbor Commercial Mortgage, LLC has announced the appointment of Patrick Boyle as vice president. Boyle is responsible for originating multifamily loans nationwide utilizing Arbor’s entire product line, including FHA, Fannie Mae, CMBS, Bridge, Mezzanine and Preferred Equity. He is based in the company’s Bel Air, MD, office and reports to Ken Fazio, senior vice president, national production manager. Boyle brings more than 13 years of commercial real estate financial services to Arbor. Most recently, he served as vice president of a private Washington, DC-based lender specializing in commercial real estate financings nationwide. Boyle began his career with J.P. Morgan’s…
APARTMENT MARKET STATISTICS: January 2014
Returns from multifamily property investments fell in the third quarter of 2013, according to the National Council of Real Estate Fiduciaries. Returns from commercial real estate as a whole, however, increased to 2.57 percent.
TODAY’S DEALS: Greystone Closes $54.5M Bridge Loan for Hamptons Skilled Nursing Acquisition
Greystone closes a bridge loan for a 280-unit skilled nursing facility; Hybrid Capital arranges $12 million for an affordable housing asset in Camden, N.J.; and Waypoint Residential acquires a Tennessee apartment community.
Washington Property Co. Opens 232 Units in Suburban D.C.
Though a few finishing touches remain, residents are now moving into Solaire Wheaton, a LEED Silver certified TOD community in suburban Washington, D.C.
Meeks + Partners-Designed Elan City Centre in Dallas Completed
Greystar’s newest Dallas development has opened. The asset was designed by Meeks + Partners and features luxurious amenities and modern floor plans.
Stillman and Ceruzzi Plan Manhattan High-Rise
Stillman Development International and Ceruzzi Properties acquire 151 E. 86th on Manhattan’s Upper East Side with the intent to erect a 21-story condo and retail tower.
Perspective: The Military Housing Privatization Initiative is at Risk
Federal budget cuts could reduce housing allowances for military personnel, affecting apartment firms with boots on the ground in those communities.
Cozy Up to the Newest Fireplace Trends
On a day like today, it would sure be nice to curl up next to a fireplace with a warm drink after work. The community fireplace, both indoors and out, is a tried and true crowd pleaser when it comes to amenities.
First Post-Recession Condo Underway on Miami’s Brickell Avenue
Rilea Group is bringing Brickell Avenue something it hasn’t seen since the economic downturn: a new condo development. The Bond on Brickell, a 44-story luxury community, is expected to open in early 2016.