Finance & Investment
Seniors Community Funded by WNC LIHTC Equity Opens in Honolulu
Pacific Housing Assistance Corporation recently held a dedication ceremony to officially mark the opening of Senior Residence at Iwilei, an affordable seniors housing building that was partially funded with $24 million in LIHTC equity from Irvine, Calif.-based WNC.
TODAY’S DEALS: Canyon Capital Provides Related JV with $157M for Miami Condo/Hotel
HFF arranges $157 million for a mixed-use Miami development; Equus Capital Partners acquires 288 units in Atlanta; and Berkadia arranges more than $26 million for two multifamily properties on the East Coast.
Economy Watch: Black Friday Sales Edge Down
A variety of retail sales estimates came out over the weekend, all pointing to the conclusion that Black Friday by itself isn’t quite the sales driver it once was.
TODAY’S DEALS: StarPoint Grabs 259 Units in Los Angeles County
StarPoint completes a $51.8 million acquisition; Marcus & Millichap brokers a 26-unit sale in Illinois; and NorthMarq Capital arranges $11.86 million in Fannie Mae acquisition financing.
Fannie Mae Partners with Detroit Land Bank Authority to Stabilize Neighborhoods
Fannie Mae has partnered with the Detroit Land Bank Authority to help stabilize neighborhoods hard-hit by foreclosure.
Empty Nesters and Millennials Drive Urban and Suburban D.C. Multifamily Market
The greater Washington D.C. area has more than 30,000 apartment units coming online, scaring some institutional investors.
TODAY’S DEALS: Olympus Property Acquires Luxury Adaptive Reuse High-Rise in Downtown Dallas
A 440-unit high-rise in Dallas trades hands; Domain Acquisitions and BH Equities acquire 672 units in North Phoenix; and NorthMarq Capital secures $103.7 million in Freddie Mac refinancings to take out bank loans.
APARTMENT MARKET STATISTICS: November 2014
Multifamily housing starts hit 423,000 units in July, reports the National Association of Home Builders (NAHB).
Setting the Stage for a Comeback: Multifamily Sector to Stay Strong as GDP Expansion Peaks in 2015, Single-Family Starts Break 1M in 2016
According to the National Association of Home Builders, the economy is back on track, and economic growth will accelerate into next year. Will that mean the multifamily market will strengthen further?
Freddie Mac Picks Lenders for Small Loan Product
Freddie Mac has tapped three lenders as the first ones to sell loans to the company as part of its new Small Business Lending product: Hunt Mortgage Group, Greystone Servicing Corp. and Arbor Commercial Mortgage.