News
Economy Watch: Building Confidence Ticks Down
Homebuilders are still fairly confident about their industry, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index.
Solar Lighting Communicates As It Illuminates
Technological advances has meant that solar-powered lights are now a viable, cost-efficient and attractive alternative for use in parking lots and other outdoor areas of multifamily properties.
TODAY’S DEALS: George Smith Partners Secures $70M Cash-Out Refinance for Downtown LA Property
George Smith Partners provided financing for the takeout of a maturing construction debt; and Edgewood Capital supplies $2.15M for acquisition of non-performing loan.
Beech Street Closes $92.5 million in Freddie Mac Loans for 5-Property Portfolio Refinance
Beech Street Capital has completed a portfolio refinance for Wisconsin-based real estate development firm Continental Property Companies Inc.
TODAY’S DEALS: Queens Apartment Commands $47.3M
TIAA-CREF sells an Astoria apartment asset; Pathfinder Partners acquires an 18-unit condo in Denver; and CMC arranges a pair of multifamily loans.
Economy Watch: Beige Book Strikes More Optimistic Tone
The Fed’s Beige Book paints a positive picture for most districts and the World Bank remains hopeful for continued economic growth.
MARKET SNAPSHOT: Will Washington D.C. Apartment Performance Lag in 2014?
The construction boom hits right at a time when the metro’s job market is cooling down. Marcus & Millichap Real Estate Investment Services anticipates that the region’s apartment stock will rise 3.4 percent in 2014. This will result in vacancy levels not seen since 2009. Apartment completions approached record levels last year, as developers delivered around 10,000 units in the region, increasing apartment stock by 1.9 percent. Marcus & Millichap expects builders to surpass this number in 2014, and deliver an impressive 18,000 units.
MHN Exclusive: Landmark Adds $443M in Assets During 4Q13
The fourth quarter capped an extremely active 2013 for Landmark Apartment Trust of America. Over the course of the year the company acquired close to 16,000 units, representing over $1 billion in transaction value.
ZOM Texas Breaks Ground on a Luxury Community in Houston’s Galleria/Uptown District
ZOM Texas has broken ground on The Hudson, its third community in Houston. The project will add 431 units to the Galleria/Uptown market.
TODAY’S DEALS: Azure Partners Buys Newark Towers
HFF brokers a high-rise sale in Newark; Venture West Funding refinances six California apartment buildings; and NorthMarq Capital arranges a $10.7 million Freddie Mac refinancing.