Development
TODAY’S DEALS: HFF Arranges $22.5M Permanent Loan from Life Insurance Company
HFF arranges $22.5 million in financing from a life insurance company; Parse Capital closes a $8.9 million mezzanine loan for a Los Angeles development; and Berzack Investment Property Advisors brokers a 40-unit sale in Santa Clarita, Calif.
Apartment and Condominium Market Gains Momentum in Second Quarter, According to NAHB
Production of apartments and condominiums gained momentum in the second quarter of 2013, according to the latest Multifamily Production Index, released today by the National Association of Home Builders.
TODAY’S DEALS: Northwestern Mutual Provides Gables with a $233M Refinance
Northwestern Mutual helps Gables Residential refinance a 19-property portfolio; HFF secures $21.4M for a Oregon development; and Alliant Capital completes an $8.99 million 10-year refinancing loan.
Do Not Rush to Construction: Make Sure Final Designs are Really Final
After construction has commenced, design changes to add value can lower your rate of return.
MHN Interview: Philadelphia Freedom—An Interesting Opportunity for Multifamily
LCOR recently announced that Donald Tracy, the company’s new vice president, would be leading the Philadelphia development team. MHN talks with Tracy about his plans on expanding LCOR’s development pipeline in that market, as well as why he considers Philadelphia a unique area for the multifamily industry.
APARTMENT MARKET STATISTICS: August 2013
Apartment prices continue to increase. According to PPR/Costar, price per unit of apartments in the first quarter was $147,257—increasing from $110,380 in the fourth quarter.
Auction.com Research Looks at Impact of Unemployment Rates
Based on the most recent July 2013 Bureau of Labor Statistics Report, Auction.com Research is predicting a slowdown in real estate for the second half of the year.
Builder Confidence in the 55+ Housing Market Shows Significant Improvement in Second Quarter
Builder confidence in the 55+ housing market for single-family homes showed strong continued improvement in the second quarter of 2013 compared to the same period a year ago, according to the National Association of Home Builders’ (NAHB) latest 55+ Housing Market Index (HMI).
Design Team Selected for The Paseo Del Norte/I-25 Interchange Reconstruction Project
A reconstruction project meant to reduce traffic congestion and improve safety and air quality has selected its design team. The corridor in question is the Paseo Del Norte/I-25 Interchange and has allocated $93 million – $75 million for the actual project and an additional $18 million for the preliminary design, acquisition of rights, and additional fees.
Lease-Ups: Six Ways to Leverage Touch Technology
In the last five years, the touch screen interface has become almost omnipresent. One of the more recent innovations is the use of large touch panels and touch-surface tables to provide property information and virtual tours at multifamily communities.