Finance & Investment
How Southern Land Company Broke Nashville Multifamily Sales Records
Southern Land Company recently rocked the Nashville real estate market with the $95.1 million sale of Elliston 23 Apartments, a mixed-use luxury multifamily development. MHN asked Southern Land Company’s VP of mixed-use development Michael L. McNally, Jr. what the sale means for the company and for the white-hot apartment market of Nashville, TN.
HUD and Fannie Mae Announce Expansion of Green Preservation Plus
Fannie Mae, with support from the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA), today announced the expansion of Green Preservation Plus.
TODAY’S DEALS: Milestone Buys in Denver and Atlanta
Milestone buys two properties for a combined $78 million; Bell Partners buys an apartment community in the Baltimore-D.C. metro area; and Sabra Health Care REIT purchases a seniors housing campus in Indiana.
APARTMENT MARKET STATISTICS: May 2014
According to PPR/CoStar, average apartment sales price was $107,501 per unit in the fourth quarter of 2013, down slightly from the same period in 2012.
TODAY’S DEALS: Abacus Capital Picks Up Chicago Asset from AEW JV
HFF arranges a 100-unit sale in Chicago; Boston Capital invests in two LIHTC developments in Boulder, Colo.; and Hendricks-Berkadia negotiates the sale of an apartment community in Tampa, Fla.
TODAY’S DEALS: Toronto-Based Starlight Acquires Houston Apartments
Starlight U.S. Multi-Family Core Fund acquires a 257-unit asset in Houston; RED Capital Group provides $10.1 for the acquisition and rehab of a low income seniors housing asset; and Carroll Organization adds a multifamily asset to its Florida portfolio.
TODAY’S DEALS: Berkadia Arranges $146M for First Seniors Housing Early Index Lock Deal
Berkadia closes a first-ever seniors housing Early Index Lock transaction; Investor’s Bank closes 80 deals in 1Q14 with strong multifamily business; and Cohen Financial secures $16 million in equity for a condominium development in South Florida.
Centerline Introduces Proprietary Bridge Loan Program for Pre-Stabilized Properties
Centerline Capital Group announced a new multifamily bridge loan program that will provide short-term financing for multifamily properties that have not reached stabilization.
CHW to Break Ground on Green Affordable Housing Community in Vista, Calif.
Community HousingWorks will hold a ground breaking ceremony to kick off construction on its latest development, North Santa Fe Apartments.
The ROI of LED: Why Marnie Abramson Fell in Love with Lighting
Marnie Abramson, M.B.A., M.S., LEED AP, the co-founder of NextGen LED, knows a thing or two about owning and operating green buildings that provide a return on investment. Her family owns The Tower Companies where she served for a number of years as a principal and communications director.