Finance & Investment
ARA’s Dallas Office Adds Former Milestone Executive to Brokerage Roster
Dallas–Atlanta-headquartered ARA announces the addition of Richard Furr to ARA’s Dallas brokerage office. Furr will lead the Private Client Services team, specializing in product located throughout the Metroplex. Previously, Furr was head of acquisitions and a member of Milestone’s Investment Committee. Prior to that, he was an acquisition partner and divisional senior vice president at JPI. He has been responsible for over $1 billion of multifamily transactions throughout his 20-year career. Furr is a graduate of Texas Tech University and received his master’s degree in Land Economics and Real Estate from Texas A&M University.
Realfacts and Meyers LLC Strategic Partnership
Novato, Calif.—Realfacts and Meyers LLC have announced a strategic partnership to position itself as the preeminent source of information to the apartment industry. Together, they will provide a variety of services to meet the growing need for reliable data coupled with interpretive data analysis. The two entities lend 50+ years of experience in building successful businesses with respected brands. The partnership is a strategic alliance geared to comprehensively examine apartment markets as that sector gains momentum. Recent increases in demand and occupancy paint a healthy picture for apartment owners and investors in the next two years. Meyers and RealFacts each…
Cash, Stock and the REIT Market
For REITs seeking to invest, a big benefit lies in their ability to use stock instead of cash, which allows them to keep leverage low while still pursuing opportunities with private sellers.
REITs Rule Today’s Market–under the Right Circumstances
New York–The message from the NYU Schack Institute of Real Estate’s REIT Symposium was that it’s a good time to be a REIT, but the opportunities today are not for everyone.
TODAY’S DEALS: Raintree Partners Acquires 270-Unit Property in Burbank for $43M
Raintree Partners aquires a 270-unit Burbank property in Burbank, Calif.; Red Capital Markets provides $19M in tax credit equity; and Oak Grove Capital recently originated $20.7 million for two seniors housing communities.
East St. Louis Housing Authority Closes New Markets Tax Credit Deal
East St. Louis, Ill.–The East St. Louis Housing Authority has closed a complex and novel NMTC transaction that will fund the mixed-use Jazz @ Walter Circle project.
Structured Financing Does Not Come Cheap
While certainly not pervasive, the structured financing market is showing signs of returning to life after two moribund years.
Phoenix, Orbach Form JV to Own Midtown Manhattan MF
New York–Phoenix Realty Group and the Orbach Group have formed a partnership that has acquired an interest in a 13-building residential portfolio on West 49th Street in Manhattan.
Q&A with Carroll Organization’s Patrick Carroll
Patrick Carroll, CEO of the Atlanta-based Carroll Organization, talks with MHN about the multifamily discussion that took place at the Global Real Estate Institute’s annual U.S. gathering in New York.
Freddie Mac Securitizes More Multifamily Mortgages
McLean, Va.–Freddie Mac has made a new offering of about $1 billion of K-011 Certificates, backed by 76 recently originated multifamily mortgages.