News
Oak Grove Capital Posts Record-Breaking Year
Oak Grove Capital provided $1.7 billion of affordable, market rate and seniors housing financing in 2013, a 16 percent increase over 2012 loan production.
TODAY’S DEALS: Largo Arranges Construction Financing for Buffalo Redevelopment
Largo Group of Companies provides construction to permanent financing for a mixed-used redevelopment in Buffalo, N.Y.; PointOne initiates a value-add play with a $12.8 million acquisition in Georgia; and NorthMarq Capital arranges $15.5 million in refinances.
Economy Watch: Real Estate Sounds off on State of Union
NMHC and AGC respond to the State of the Union address and the Fed continues tapering. In addition, CoreLogic reports a 24 percent decrease in foreclosures for 2013.
Auction.com Welcomes Paul Weiskopf to Corporate Development Team
Irvine, Calif.—Online real estate marketplace Auction.com, LLC has named Paul Weiskopf, a veteran Silicon Valley corporate strategist, as senior vice president of corporate development. For 20 years, Weiskopf has designed corporate strategies, executed mergers and acquisitions, and managed strategic alliances for some of the world’s top technology companies. Based in Auction.com’s Belmont, Calif. office and reporting to Chief Financial Officer Bruce Felt, Weiskopf is working closely with top executives to plan for the company’s continued growth. “Paul’s ability to develop smart growth strategies has helped top technology companies become global powerhouses. As we respond to the growing worldwide demand for…
Arbor Appoints Patrick Boyle as Vice President
Uniondale, NY—Arbor Commercial Mortgage, LLC has announced the appointment of Patrick Boyle as vice president. Boyle is responsible for originating multifamily loans nationwide utilizing Arbor’s entire product line, including FHA, Fannie Mae, CMBS, Bridge, Mezzanine and Preferred Equity. He is based in the company’s Bel Air, MD, office and reports to Ken Fazio, senior vice president, national production manager. Boyle brings more than 13 years of commercial real estate financial services to Arbor. Most recently, he served as vice president of a private Washington, DC-based lender specializing in commercial real estate financings nationwide. Boyle began his career with J.P. Morgan’s…
Liza Mendez Elected 2014 Chairman of the MIAMI Association of REALTORS
Miami—The MIAMI Association of REALTORS has elected Liza Mendez, CDPE, CIPS, CRB, CRS, e-Pro®, TRC, Pedro Realty International, as its 2014 Chairman of the Board. Members of the MIAMI association impact key policy decisions and important issues affecting the industry, analyze information, and are actively and visibly involved in real estate related issues, events, and programming. A local expert, Mendez has been in real estate since 1982. With over 30 years of experience, Liza has benefited from the experience of being involved in a family-owned business. Pedro Realty, Inc. was started by her father, Pedro F. Hernandez over 43 years…
APARTMENT MARKET STATISTICS: January 2014
Returns from multifamily property investments fell in the third quarter of 2013, according to the National Council of Real Estate Fiduciaries. Returns from commercial real estate as a whole, however, increased to 2.57 percent.
New Development to Redefine Luxury in Denver’s Upscale Cherry Creek Neighborhood
CBRE has brokered a $92 million construction loan for BMC Investment’s development of a 218-unit luxury high-rise in Denver’s Cherry Creek neighborhood that will likely set a new price-per-unit record in the market.
TODAY’S DEALS: Greystone Closes $54.5M Bridge Loan for Hamptons Skilled Nursing Acquisition
Greystone closes a bridge loan for a 280-unit skilled nursing facility; Hybrid Capital arranges $12 million for an affordable housing asset in Camden, N.J.; and Waypoint Residential acquires a Tennessee apartment community.
Washington Property Co. Opens 232 Units in Suburban D.C.
Though a few finishing touches remain, residents are now moving into Solaire Wheaton, a LEED Silver certified TOD community in suburban Washington, D.C.