News
MHN Interview: Anand Kannan, President, Community Preservation Partners
Low income tax credit specialists WNC & Associates may have more than 40 years of experience in affordable housing, but the firm isn’t afraid to put youth in the driver’s seat of its rapidly expanding subsidiary, Community Preservation Partners.
Atlantic | Pacific Companies Acquires Class A Asset in San Marcos, Texas
Atlantic | Pacific Companies has added another Class A asset to its portfolio with the purchase of The Palazzo, a 300-unit garden-style apartment located in San Marcos, Texas.
Fannie Mae Provides $28.8 Billion in M-F Financing in 2013
Fannie Mae details its 2013 financing activity. The GSE met the FHFA’s 10 percent reduction mandate from 2012 levels, though the entity still saw an uptick in seniors and manufactured housing activity.
TODAY’S DEALS: Baltimore M-U Asset Lands $120M for Redevelopment
HFF secures $120 million for Hekemian’s mixed-used redevelopment in Baltimore; Berkeley Point Capital executes a $9.8 million refinancing in San Antonio; and BMC Capital provides a $1.3 million loan for a property in Austin.
Southern Land Company Breaks Ground in Philly
Southern Land Company breaks ground on a $110 million, 28-story residential tower at 3601 Market Street in Philadelphia. It is the first residential building in the 50-plus-year history of University City Science Center.
Borrowers Start Using Freddie Mac Index Lock Program
Centerline Capital Group has become one of the first lenders to execute under the new Index Lock program with a $13.3 million loan for a Texas property.
Economy Watch: Job Growth Tepid in January
The U.S. economy created 113,000 jobs in January and the unemployment rate falls to 6.6 percent. In addition, Trulia reports that home prices continue to rise, albeit at a slower rate.
The Aspen Cos. Purchases Three Affordable Assets in Georgia
New Jersey-based The Aspen Cos. has picked up a trio of affordable housing communities for slightly more than $9 million. The move adds more than 300 units to its expanding portfolio in the Southeast.
TODAY’S DEALS: Bell Partners Acquires Fort Lauderdale Apartment
Bell Partners picks up a 336-unit community; NorthMarq Capital negotiates a $30.5 million acquisition loan; and Pembrook Capital Management closes $7.3 million to recapitalize a mixed-use community in Chicago.
JBG Teams with STRS Ohio on Arlington County Mixed-Use Development
The JBG Cos. has entered into a joint venture partnership with the State Teachers Retirement System of Ohio to develop Central Place, a 31-story, mixed-use development in Roslyn, Va.