Finance & Investment
Hunting Down Alternative Sources of Development Financing
Capital may seem abundant when it comes to the big players and the big projects. For the other guys, obtaining financing for new construction requires some creativity.
MHN Interview: R4’s Kevin Price on ‘Green Shoots’ in the Condo Market
Principal Kevin Price, who heads R4, talks to MHN about pockets of opportunity for developers as well as buyers in Southern California and in the condo market at large.
The Case for a First Time Renter’s Tax Credit
Market-rate renters are a unique bunch, in that, of all the household configurations, they are the only group that isn’t subsidized in one way or another.
Affordable Housing Project in Suburban Seattle Obtains Financing
Kirkland, Wash.–Saint Andrew’s Housing Group has won financing for construction of Francis Village Apartments through $10 million in Low Income Housing Tax Credits.
HUD Experiences Cuts in FY11 Budget, Faces Uncertain FY12
Washington, D.C.–Now that the long-delayed fiscal 2011 federal budget has been settled by Congress, the impact on HUD can be quantified.
Suburban D.C. Apartment Project Wins Senior and Mezz Financing
Merrifield, Va.–DSF Group has obtained financing for the second phase of Halstead Square, which will consist of 436 apartments in two mid-rise buildings.
Fieldstone Seeks TIF for Massive Multifamily Renovation
Greenbelt, Md.–Fieldstone Properties has decided to seek about $15 million in tax-increment financing for a variety of public infrastructure improvements to a massive 153-acre rental apartment and townhome property.
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.