News
MidCap Closes First Mortgage Loan for Student Community Refi
The lender provided a $20 million loan for The Arch, a 252-unit property in Louisville, Ky.
Market Pulse for December 2016
Market Pulse section compiled by Suzann Silverman. To comment, email ssilverman@cpexecutive.com. Multifamily Starts: According to the Census Bureau and the U.S. Department of Housing and Urban Development, multifamily housing starts—both two to four unit buildings and buildings with five or more units combined—recorded a steep decline in September. Over the month, multifamily starts fell by 38 percent from a seasonally adjusted annual rate of 426,000 to 264,000, starts of buildings with two to four units dropped from 17,000 to 14,000, but starts of five or more unit buildings declined by 38.9 percent from 409,000 to 250,000. Over the past 12…
Jobs Data Points to Higher Wages, Participation
Employment gains were middling for the second straight month in October, as the economy added 161,000 jobs and the unemployment rate stood still at 4.9 percent.
JV Acquires Student Housing Near USC
Campus First Student Living will oversee the management of the property as well as complete a $2.7 million renovation.
Upscale Lower Manhattan Condos Hit the Market
The project includes 45 condominiums and is slated for completion in the first quarter of 2018.
SC Apartment Community Scores $22M
Toro Real Estate Partners’ purchase of Enclave Grandview brings the firm’s portfolio to 1,200 units worth more than $70 million.
NMHC Special Report: 2016 Product Showcase
Exciting innovations include a cloud-based intercom, an online talent retention system, a resident move-in streamlining program and a pet-waste product.
NRP to Build Lone Star Brewery’s First Apartments
The $300 million redevelopment project will include at least 750 residential units.
Capstone Announces Lease-Up of Houston Community
The 142-unit LIHTC rental property is situated on the city’s northwest side.
HFF Secures $34M Loan for Georgia Student Housing Community
The company worked on behalf of owner IMS Development to arrange the 10-year, fixed-rate loan through a national bank.