News
HFF San Francisco Hires Nathan Blair to Focus on Multi-Housing Investment Sales
HFF announced that Nathan Blair has joined the firm as a director in its San Francisco office to focus on multi-housing investment sale transactions in Northern California.
Realm Group Begins Construction of Calif. TOD
Realm Group LLC announced it has started construction on a 349-unit transit-oriented development called Monterey Station, which is located in Pomona, Calif.
Ocius Plants Trees to Entice Apartment Residents to Go Paperless
Ocius, a provider of resident billing and utility invoice processing services for apartment managers, announced a new program to encourage residents to receive their monthly statements via email.
TODAY’S DEALS: NorthMarq Arranges $188M from TIAA-CREF, Allstate in Single Loan Execution
NorthMarq Capital arranges a $188 million first mortgage for Mansion Grove, a 1,000-unit property in Silicon Valley; Radco Companies completes a 640-unit acquisition; and Peak Capital Partners buys two apartment communities in North Carolina.
Economy Watch: Zillow Reports Higher Home Values
Zillow reported on Tuesday that its Home Value Index was up 6 percent year-over-year in July, to a value of $161,600.
Do Not Rush to Construction: Make Sure Final Designs are Really Final
After construction has commenced, design changes to add value can lower your rate of return.
Trammell Crow Breaks Ground on Houston Multifamily Community
Work has started on Alexan Enclave, a 354-unit multifamily development on the west side of Houston, in that city’s Energy Corridor. The Trammell Crow Residential development is slated to open in the spring of 2014.
MHN Interview: Philadelphia Freedom—An Interesting Opportunity for Multifamily
LCOR recently announced that Donald Tracy, the company’s new vice president, would be leading the Philadelphia development team. MHN talks with Tracy about his plans on expanding LCOR’s development pipeline in that market, as well as why he considers Philadelphia a unique area for the multifamily industry.
TODAY’S DEALS: HFF Priovides JV with $40.5M for Colorado Apartment Development
The Greystone Group and The Sevinson land financing for a Colorado project; NorthMarq Capital arranges first mortgage financing for a Illinois asset; and Arbor Commercial Funding provides a $8.5 million Fannie Mae refinance loan.
Auction.com Sells $14 Million CRE Assets
Auction.com, an online real estate marketplace, facilitated the closing of six commercial assets totaling more than $14 million in purchase price and two commercial notes totaling $465,000 in value during the week of July 31, 2013.