News
MBA Survey: Multifamily Lending Volume Expected to Increase in 2014
A majority of respondents expect loans for CMBS, commercial banks, life companies, and pension funds to increase this year, while loans for Fannie Mae, Freddie Mac and FHA will decrease.
Berkeley Point Capital Closes $36M for Sacramento Acquisition
Berkeley Point Capital has secured $36 million for Horizon Realty Partners’ purchase of a 646-unit asset in Sacramento.
TODAY’S DEALS: Fairfield Residential Acquires Baker Chocolate Factory in Boston
Beacon Communities sells a 133-unit asset in Boston to an affiliate of Fairfield Residential; Levin Realty completes a 559-unit acquisition in Greenville, S.C.; and a 12-unit Manhattan loft building trades for $12 million.
Economy Watch: December Employment Surprises on the Downside
Despite anemic overall hiring in December, total hiring was roughly the same in 2013 as it was in 2012. The unexpectedly tepid monthly numbers probably won’t cause a delay in the Fed’s tapering.
Executive Insight: Conversion Conundrum
MHN speaks with Kinzie Real Estate Group’s Steven Maher about trends in Chicago adaptive reuse development.
Timberland Acquires Four Properties Totaling 818 Units
Minneapolis-based Timberland Partners acquires a quartet of geographically diverse multifamily properties in December.
China’s Greenland Group Buys 7.8-Acre Brewery Development in London
A Chinese developer has entered the U.K. market with the $987 million acquisition of the Ram Brewery development site in London. The land is permitted for 661 new homes, including a 36-story multifamily tower.
MHN Interview: Steadfast’s Ella Shaw Neyland
Steadfast Income REIT had a banner 2013, adding nearly $1 billion to its portfolio of moderate income apartments. Big things are on the horizon as Steadfast launches its second public company, Steadfast Apartment REIT. Ella Shaw Neyland fills MHN in.
TODAY’S DEALS: KeyBank Provides $27.9M for N.C. Community
KeyBank closes $27.9 million for a community in North Carolina; Lee & Associates completes a $3 million sale in Studio City, Calif.; and NorthMarq secures a $13 million CMBS loan.
McCann Breaks Ground on Houston Luxury Apartment Community
Construction has begun on Shadow Creek Ranch Apartments, a 350-unit Class A community that McCann Realty Partners is building in Houston.