Finance & Investment
The Role of Affordable Housing in Stimulating the Economy
A study by the Center for Housing Policy shows that affordable housing can create jobs, stimulate the economy and give back to the tax base.
St. Anton Secures Funds for $57M Suburban SF Mixed-Income Project
San Ramon, Calif.–St. Anton Partners has managed to obtain a $48.6 million loan with relative ease for Highlands Point Apartments, its $57 million San Francisco Bay-area project.
Promising Predictions for the 2011 Apartment Industry
Some analysts expect apartments to perform at levels close to the last market peak.
Apartment REITs Score High Returns in 2010
Washington, DC–All sectors of the U.S. REIT market delivered positive returns in 2010, with apartment REITs leading the way.
Q&A with Sares Regis Group’s Kenneth Gladstein
Kenneth Gladstein, senior vice president of investments at Sares Regis Group, shares insights about the impact of renter psychology.
Lenders Take Over Seattle-Area Condo Development
Bellevue, Wash.–Morgan Stanley and the other senior lenders have finalized their ownership of the unsold units of Bellevue Towers after the original developer threw in the towel.
FHLB Awards $10M in Funding for New England Affordable Housing Initiatives
Boston–The Federal Home Loan Bank of Boston has unveiled a variety of funding initiatives to promote affordable housing in Connecticut and Rhode Island.
DEAL OF THE DAY: Raintree Acquires Its Eighth Property in 2010 for $16.7M
Livermore, Calif.–Raintree Partners completed the acquisition of Meadowbrook Apartments, a 125-unit multifamily property in Livermore, Calif.
AFL-CIO Puts $90M into LES Multifamily Development
New York–The AFL-CIO Housing Investment Trust has invested $90 million in the Lands End II property on Manhattan’s Lower East Side, which will allow rental units to remain affordable for low- and moderate-income renters.
New Partnership to Fund Affordable Housing Renovations
Chicago–The John D. and Catherine T. MacArthur Foundation, the National Affordable Housing Trust and Cornerstone Real Estate Advisers L.L.C. have partnered to preserve federally subsidized rental housing in a number of markets.