Finance & Investment
Fairfield Residential Secures $51M for MD Apartments
The seven-year, fixed-rate Fannie Mae loan for the 386-unit Rock Spring has three years of interest-only payments and five years of yield maintenance with a 1 percent prepayment penalty afterward.
Houston-Area Communities Land $87M in Financing
Two Houston-area multifamily assets, totaling 1,553 units, received $87 million in financing. Combining first mortgage and mezzanine loans, both projects obtained floating-rate, interest-only and non-recourse loans.
Invesco Expands Portfolio With MA Buy
CBRE/NE represented the seller and procured the buyer. The property is three blocks away from Nantasket Beach and offers easy access to the South Shore.
Denver-Area Community Nets $11M Loan
Constructed in 1968 and renovated in 2016, the property is centrally located in Boulder, near the University of Colorado campus and other large employers.
5 Trends in Multifamily Investing for 2018
If you’re an investor, there will be a few surprises and some changes you should be prepared for, according to Karlin Conklin, vice president of private equity at Investor’s Management Group and principal at IMG Northwest.
CAPREIT Snags $48M Memphis Property
The company plans to renovate 1,002-unit Madison Cypress Lakes community, including exterior upgrades and a new clubhouse.
MG Properties Acquires $58M Vegas Community
The company purchased the 432-unit Bristol at Sunset from Kennedy Wilson. CBRE arranged a $39.4 million acquisition loan through Fannie Mae on behalf of MG Properties Group.
On the Market: 5 Interesting Listings for the Week of 10/9
This week’s listings feature a renovated 1926-built property in Jacksonville, Fla., and a well-located duplex in Los Angeles.
CA Treasurer, Governor Hopeful Doubles Down on Housing Affordability
California State Treasurer John Chiang is a man with a mission, and that mission is affordable housing. He offers details in a candid interview with MHN.
22-Property Portfolio Commands $467M
HFF helped Equus Capital Partners sell the 3,426 units. The assets are in suburban Philadelphia, Lancaster, Harrisburg, Wyomissing, Lehigh Valley and northeastern Pennsylvania.