News
Video – Reis Q4 2013 Apartment Trends
Reis VP of Economics & Research, Dr. Victor Calanog, provides an update on the apartment sector performance for the fourth quarter of 2013.
Mack Urban Plans New Development in Portland
Mack Urban has purchased 1.67 acres of prime waterfront property in Portland’s South Waterfront District, and plans to develop a six-story mid-rise multifamily structure featuring up to 281 apartments.
Carroll Organization Acquires 11th Florida Multifamily Property
Carroll Organization continues to expand its southern portfolio. The group recently completed its eleventh acquisition in Florida with the purchase of the 204-unit Island Club at Atlantic Beach.
Economy Watch: CBO Says Budget Deficit Shrinking for Now
The Congressional Budget Office estimates a $514 billion deficit for 2014. In addition, CoreLogic reports that year-over-year home prices are up 11 percent for December, though the trend points to a plateau.
Freddie Mac Singles Out Top 2013 Multifamily Lenders
After a year that saw Freddie Mac settle nearly $26 billion in new multifamily volume, its second largest figure ever following a banner 2012, the GSE announces its top lenders for 2013.
ULI and Enterprise Release Comprehensive Affordable Housing Solutions Report
The supply gap between affordable rental units and extremely low-income renters continues to widen. ULI and Enterprise Community Partners address the issues surrounding the availability of affordable housing in their new report: Bending the Cost Curve.
Luxury TF Cornerstone Condo in L.I.C. Reaches Full Occupancy
The View, a luxury condo in the Queens neighborhood of Long Island City, has reached 100 percent occupancy. Modern Spaces handled sales.
TODAY’S DEALS: Virtú Investments Enters Colorado with $16.6M Apartment Acquisition
Virtú Investments buys a 186-unit asset in Castle Rock, Colo.; Trade Street closes on a $75 million credit facility; and IPA sells a development site in Manhattan’s Hudson Yards subdistrict.
Economy Watch: Investors Head for the Exits
While investors continue to stare down a potential market correction, good news in the multifamily sector comes from the NAHB’s 55+ Housing Market Index and the Census Bureau.
BofA Merrill Lynch Increases Community Development Lending by 25 Percent
Bank of America Merrill Lynch’s Community Development Banking business finalized about $3.3 billion in loans, tax credit equity investments, and other real estate development mechanisms in 2013, roughly 25 percent more than during 2012.