Business Specialties
Apartments Coming to Ohio City Neighborhood
Apartments are coming to one of the oldest neighborhoods in Cleveland. Two recently announced projects are expected to deliver more than 250 apartments to Ohio City, a place where apartments are greatly needed.
City of Cincinnati Approves Plans for Multimillion-Dollar Developments
Cincinnati City Council approved last Wednesday plans for a 30-story apartment tower at the northwest corner of 4th Street and Race Street in the city’s downtown. The project is expected to cost about $80 million.
MHN Interview: Modernizing HUD Communities
The Aspen Company, based in Teaneck-N.J., invests in HUD properties across the country. MHN talks to John VanMetre, the new director of operations at The Aspen Company, about his new role, and how he plans to modernize the affordable communities his company acquires.
TODAY’S DEALS: Beech Street Refinances NYC Portfolio
Beech Street Capital closes a $49.5 million loan for a NYC portfolio; Cohen Financial secures $34 million for a Colorado development; and Centerline Capital provides an $11.4 million refinance loan for a Maryland property.
U.S. Bank Completes Financing Deal for Two L.A. Senior Affordable Housing Projects
An important financing deal securing the future of two urban senior housing developments in Los Angeles was completed last week when U.S. Bank confirmed that it is providing $55.1 million for the projects. The two affordable housing complexes have groundbreaking ceremonies scheduled this month. U.S. Bank is working with the Retirement Housing Foundation to get the two developments done. The banking giant will present the organization with a $30,000 check, in support of its current senior housing endeavors.
TODAY’S DEALS: NorthMarq Arranges a $20M New Construction Loan in Chicago
NorthMarq’s Chicago regional office arranged construction loan financing of $20 million for Webster Square; and Lucent Capital completes an $11.84 million permanent loan for the recapitalization of a building.
‘What Renters Want’ with Jessica Fiur: What to Do About Residents Who Break Up
Couples who rent together sometimes break up. How do you deal with this situation?
2013 Mid-Year Outlook: Economic Growth On the Road to “Normal”
The U.S. may be well into a prolonged period of steady economic growth, but it hasn’t yet reached its full potential, according to Fannie Mae’s Economic & Strategic Research Group.
Detroit and Other Michigan Cities to Share $100 Million Demolition Grant
In an effort to solve the issue of blighted and dangerous properties across the state and reduce crime in neighborhoods, Gov. Rick Snyder last week announced that the U.S. Department of the Treasury granted $100 million under a pilot program that enables states to decide locally on actions that prevent foreclosures and support the housing recovery.
Two Louisiana Apartments Obtain $23M Refi
Interest rates remain low, and apartment owners are still eager to take advantage of that environment, according to Beech Street Capital. Recently the company closed on two Fannie Mae loans to refinance a pair of Louisiana apartment buildings owned by the same entity.