News
Resmark Apartment Living Acquires Site for 208-Unit Community
Resmark Apartment Living, a division of The Resmark Companies, announced that it has completed the acquisition of an approximately 1.2 acre site in Redmond, Wash., its fifth investment in the area in the last 14 months.
TODAY’S DEALS: Vitus Group Buys NorCal Affordable Asset
An affordable asset will get an update thanks to Vitus Group; Resource Real Estate Opportunity REIT acquires a 192-unit community in Winter Park, Fla.; and NorthMarq Capital arranges a $32.963 million Freddie Mac mortgage with interest only.
Target Demographic: Active Adults
Fifty-five to 75-year-olds like many of the same things as the hipster generation…
SARES•REGIS Group Acquires 192-Unit Calif. Community
SARES•REGIS Group, which launched its multifamily fund back in March, acquired its first apartment community, Avalon at Civic Center, a 192-unit community in Norwalk, Calif., which it purchased from Avalon Bay.
Fannie Mae Maintains a Steady Pace of Multifamily Issuance in the Second Quarter
Fannie Mae announced that the company issued approximately $7.6 billion of multifamily MBS in the second quarter of 2013, backed by new multifamily loans delivered by its lenders.
Firm Capital Property Trust Acquires Stake in Montreal Industrial Portfolio
Firm Capital Property Trust recently announced that it is in contract for the purchase of a 50 percent participation in a portfolio deal.
Hendricks-Berkadia Adds VP Wade Schmitz to New Houston Office
Hendricks-Berkadia, the investment sales business unit of Berkadia Commercial Mortgage LLC (Berkadia), recently announced the hiring of Wade Schmitz as a vice president with the firm.
Hines CalPERS Russia Long Term Hold Fund Acquires Stake in Moscow’s Metropolis Mall
A real estate fund managed by Morgan Stanley Real Estate Investing (MSREI) has announced the sale of a stake in the Metropolis Shopping and Entertainment Mall in Moscow to the Hines CalPERS Russia Long Term Hold Fund (HCRLTH).
Auction.com Names Rick Sharga as Executive Vice President
Auction.com, an online real estate marketplace, announced that Rick Sharga has been named executive vice president.
Economy Watch: Fed Seems Determined to Taper QE3
The Federal Reserve released the minutes from the June 18-19 meeting of the Federal Open Market Committee on Wednesday, and while (as usual), they weren’t precisely a model of clarity, the minutes did seem to reinforce the idea that the central bank is indeed planning to “taper” its QE3 stimulus program.