Finance & Investment
Enterprise Finishes 2013 by Closing 11 Affordable Housing Syndication Deals
Affordable housing finance and investment organization Enterprise Community Investments Inc. wrapped up 2013 with 11 new LIHTC-financed developments and rehabs.
TODAY’S DEALS: Sares Regis Grabs an Oregon Asset
Belkorp Industries sells a 129-unit asset to Sares Regis; and Pembrook Capital closes two bridge loans totaling nearly $19 million.
TODAY’S DEALS: HFF Arranges Construction Financing for Boston Condo
HFF arranges construction financing for a luxury condo development in Boston’s Seaport District; Marcus & Millichap closes two Illinois transactions; and Franklin Street brokers the sale of three communities in South Florida to foreign buyers.
JLL: Sunbelt Cities to Shine, Despite Heavy Delivery Pipeline
JLL’s 2014 Multifamily Outlook picks 14 markets where oversupply is not an option. A disproportionate number are Sunbelt cities.
Freddie Mac Chalks Up Second-Largest Year in Multifamily in ’13
Freddie Mac’s volume in the multifamily space was $25.9 billion in 2013, the second largest annual total for the GSE.
Oak Grove Capital Posts Record-Breaking Year
Oak Grove Capital provided $1.7 billion of affordable, market rate and seniors housing financing in 2013, a 16 percent increase over 2012 loan production.
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.