Finance & Investment
Risky Business
Winning insurance strategies depend on the details, but don’t just rely on cutting costs
DEAL OF THE DAY: Alliant Capital Refinances Two Chicago Properties
Alliant Capital LLC made a $1.6 million refinance of Kedzie Boulevard Apartments,
DEAL OF THE DAY: Marcus & Millichap Brokers $11.7M Sale of Property in Washington, D.C.
Marcus & Millichap Real Estate Investment Services sold The New Amsterdam, a 75,375-square foot multifamily and retail asset in Washington, D.C. The sales price of $11,750,000 represents $156 per square foot, or $130,556 per unit.
America on Sale: Foreign Investors are Cashing In
Doomsday predictions in the U.S. commercial real estate market are becoming more prevalent on a daily basis and the potential for commercial mortgage defaults is said to reach $1 trillion by 2012.
DEAL OF THE DAY: Franklin Street Brokers Sale of Distressed Notes on Section 8 Properties
Tampa‑Franklin Street Real Estate Services has arranged the sale of distressed notes on a four-property multifamily portfolio formerly subject to Section 8 contracts.
Carlton to Sell $257M of Non Performing, First Mortgage Loans Secured by Small Balance, Multifamily and Retail Commercial Properties
The Carlton Group has been retained by a major financial institution to sell $257 million in first mortgage loans secured by a variety of commercial properties including retail, multifamily and industrial assets.
DEAL OF THE DAY: Berkadia Commercial Mortgage Originates $18,664,000 for Altamont Summit Refinance
Portland, Ore.–Berkadia Commercial Mortgage LLC originated $18,664,000 in permanent, variable-rate debt through its Freddie Mac program to refinance Altamont Summit, a 439-unit multifamily community in Portland, Ore.
SPECIAL REPORT: Educational Sessions at MBA Conference Track Mortgage Bankers’ Concern with Problem Loans
Las Vegas—Master servicers are witnessing greater numbers of borrowers trying to force the transfer of their loans to special servicing, according to Kevin Donahue, senior vice president of PNC Real Estate/Midland Loan Services Inc. “Borrowers are becoming a little savvier” in pursuing their alternatives, said Donahue. They understand that the master servicer cannot perform “material modifications” on the loan, he said.
MBA Voices ‘Serious Concerns’ Over Consumer Financial Protection Bill
The Mortgage Bankers Association (MBA) said it has “serious concerns” with the legislation passed by the House Financial Services Committee that would create a consumer financial protection agency.
EDITOR’S NOTE: FHA Watch
Will the Federal Housing Administration (FHA) be next to need the government to keep it afloat?