News
New Garden Grove Apartments Mark a Push to Multifamily for Brandywine Homes
Single-family homebuilder Brandywine Homes is making a push into mutlifamily with the completion of Waterstone, a 25-unit community located in Garden Grove, Calif.
Condo Prices Up in Three Major West Coast Markets
Condo prices increased significantly in downtown Seattle, Los Angeles, and San Francisco over the past year according to a recent report by The Mark Co.
TODAY’S DEALS: Wood Partners JV sells 116-Unit Asset for $50.5M
Intercontinental Real Estate Corp. buys an asset from Wood Partners; NorthMarq Capital arranges $30 million in construction financing for an affordable asset; and HFF closes $14.8 million in permanent financing for a newly-built Massachusetts asset.
Oak Coast Properties Developing West Hollywood Apartment Community
Oak Coast Properties is developing a new 53-unit upscale apartment community in the high barrier market of West Hollywood.
Economy Watch: Federal Government Records Surplus in December
The U.S. Department of Treasury reports the first December surplus ($53.2 billion) since 2007, while the ICSC presents a 3.4 percent gain in chain-store comparable sales for December year-over-year.
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.