News
TODAY’S DEALS: StoneBridge Investments Buys Luxury Atlanta Apartment
StoneBridge Investments buys 252 units in Atlanta; NorthMarq arranges $13.6 million for an affordable asset; and Centerline provides a $6.7 million bridge loan to refinance and build-out a 24-unit property.
Greystone Secures $117M for Affordable Rehab
WWJ has acquired a portfolio of 44 affordable housing properties in the state of Georgia. The deal was overseen by Greystone, working with National and State USDA Rural Development, the Athens Housing Authority, Georgia Department of Community Affairs and Fannie Mae to secure the funds necessary to acquire and rehabilitate the portfolio.
MHN Interview: The Importance of Social Media For Multifamily Team Members
Madison Apartment Group, a Philadelphia-based company, recently launched a social media platform for their employees called Madison Connect. MHN talks to Dean Holmes, COO of Madison Apartment Group, about this new technology.
Sustainable Mixed-Use Building Nearly Complete in Brooklyn’s Brighton Beach Neighborhood
Construction is nearly complete on Bright ‘n Green’s fully-sustainable, six-unit, mixed use community in Brooklyn’s Brighton Beach neighborhood.
Bozzuto and MGL Partners to Develop $75M D.C.-Area Community
Financing has closed and ground been broken on The Frasier, a $75 million apartment project right across the Potomac from Washington, D.C., in Alexandria, Va.
MBA Unveils New Brand Identity
The Mortgage Bankers Association (MBA) revealed a new brand identity, including a new logo, corporate messaging and web and email domains.
11th American Business Awards Recognizes Auction.com’s Online Consumer Real Estate Platform
Auction.com has been recognized a second time this year by The 11th Annual American Business Awards, known as the Stevie Awards.
Economy Watch: Inflation Barely a Whisper
The Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers edged up by 0.1 percent in August compared with July.
APARTMENT MARKET STATISTICS: September 2013
Housing starts in five-plus unit dwellings rose by 25 percent in May 2013 to a seasonally adjusted annual rate of 306,000 units, reports the National Association of Home Builders.
Fannie Mae Says Multifamily Development is Rebounding, But Single-Family Units Still Dominate Rental Market
A decline in home-ownership rates would seem to suggest a boom for the multifamily industry, but a shift in renter preference from multifamily to single-family homes and a growing desire for home ownership may force industry professionals to re-think how they attract the key age group of renters to their communities.