Deals
CPC Helps Keep NYC Community Affordable
With funding through Freddie Mac, Community Preservation Corporation has closed on a $40 million loan for the refinancing of Cathedral Parkway Towers. Refinancing helps prevent otherwise unavoidable rent increases that would have resulted from escalating operating costs at the 309-unit Mitchell-Lama project on West 110th Street in New York City.
Successful Structures
CBRE’s Trehubenko favors transparency, patience and clarity when structuring complex affordable housing financing.
ResiModel Announces Additions to Client Roster
ResiModel, a platform for aggregating, standardizing and analyzing financial data for multifamily transactions, reported a roster of clients that it onboarded during the first quarter of 2015.
Is the Gap Widening Between the Rich and Poor?
A new report by the Brookings Institution looks at the gap between the richest and poorest households.
Economy Watch: Is the Strong Dollar Good for Real Estate or Not?
The world is turning to the U.S. dollar. What does this mean for real estate?
TODAY’S DEALS: Millennium Tower Boston Completes $650M in Sales in Four Months
Millennium Partners demonstrates an appetite for the ultra-luxury condos in Boston; Bluerock Residential Growth REIT is attracted to Austin; and Hunt Mortgage provides a Fannie Mae loan facility to a property located in Rochester, N.Y.
MIPIM Special Report: Five Cities that Lead the Way
Cities need to leave the traditional concept of competition behind and embrace the notion of teamwork on a regional scale.
TODAY’S DEALS: Massachusetts Buyer Finds Value Outside Atlanta
Aspen Square Management buys 440 units in Peachtree Corners, Ga.; Berkeley Point arranges $24.2 million for a senior housing asset in Utah; and Capital One Bank closes a Fannie Mae loan for manufactured housing.
Freddie Mac Closes Largest MHC Portfolio with Walker & Dunlop
Walker & Dunlop Inc. announced the closing of a $177 million loan portfolio with Sun Communities (Sun) that includes 13 manufactured housing communities in Michigan, Colorado, Minnesota, Wisconsin and Florida.