Finance & Investment
Where are Apartments for the Middle Class?
MHN chats with Kevin Finkel of Resource Real Estate Opportunity REIT about the changing nature of the workforce and their housing needs. The fund is big on heavy value-add plays that create safe, affordable and hassle-free housing for the middle-class, with a particular emphasis on single working mothers.
TODAY’S DEALS: Centerline Provides Acquisition, Renovation Financing for Florida Asset
Centerline provides a Related affiliate with acquisition and renovation financing; Greystone closes $40.4 million for a Tennessee community; and Meridian Capital negotiates $39.3 million in financing for mixed-use properties in New York and New Jersey.
TODAY’S DEALS: NorthMarq Secures $12M Refinance for Oregon Multifamily Asset
NorthMarq arranges a $12 million refinance for a 207-unit asset; Hamilton Zanze buys a Las Vegas apartment community; and Hybrid Capital arranges $8.5 million in financing for 80 units in Brooklyn, N.Y.
Funding in Place for Monastery to Seniors Conversion in Chicago
Senior Lifestyle Corp. has obtained funding for the redevelopment of a monastery on the Northwest Side of Chicago. The Low Income Housing Tax Credits were provided by Boston Capital.
Outlook for Apartment REITs in 2014
Factors that influenced the performance of REITs in 2013 included the federal government shutdown, budget cuts imposed by sequestration, and interest rate concerns. So how will REITs perform in 2014?
What Lies Ahead for the Multifamily Market?
After several years of white-hot performance, the nation’s multifamily sector is beginning to post more normalized numbers.
TODAY’S DEALS: Aztec Group Secures $7.5M for Fractured Condo
Aztec Group provides financing for 144 units in Fort Lauderdale; Cohen Financial secures $37 million for five properties; and Marcus & Millichap brokers a 259-unit sale in South Carolina.
TODAY’S DEALS: MHA Brokers $18.5M Sale in South Carolina
Multi Housing Advisors brokers the $18.5 million sale of Walden Oaks in Anderson, S.C.; and Walker & Dunlop provides $62.5 million for apartments in Southern California.
David Durning: Construction Financing from an Insurance Company
VIDEO: David Durning, president and CEO, Prudential Mortgage Capital Co., describes the insurance company’s commercial property construction loan program.
MHN Interview: Alex Cohen of Liberty SBF
MHN catches up with Alexander Cohen, CEO of Liberty SBF. The Philadelphia-headquartered firm specializes in small-balance commercial lending products. Topics discussed include trends in the capital markets, the firm’s entry into apartment lending, and lending for pools of single-family rentals.