News
Centerline Holding Company and Hunt Announce Definitive Merger Agreement
Centerline Holding Company and Hunt Capital Partners announced the entry into a definitive agreement and plan of merger between Centerline and an affiliate of Hunt under which an affiliate of Hunt will acquire through a merger all of the outstanding Common Shares of the Company that Hunt or its affiliates do not already own for cash consideration of $39.89 per share.
Two Louisiana Apartments Obtain $23M Refi
Interest rates remain low, and apartment owners are still eager to take advantage of that environment, according to Beech Street Capital. Recently the company closed on two Fannie Mae loans to refinance a pair of Louisiana apartment buildings owned by the same entity.
First Resident-Based Bike-Sharing Program Debuts in New York City
The first resident-based bike-sharing program in New York City was launched by Related Companies and Zagster, which provides bikes-as-a-service.
Economy Watch: Job Openings Down
The Bureau of Labor Statistics released the Job Openings and Labor Turnover Summary, which casts a bit of a different light on the national employment picture.
TODAY’S DEALS: KBS Legacy Partners Acquires 305-Unit Asset
KBS Legacy Partners Apartment REIT completes a $33.6M buy in South Carolina; The Bascom Group closes a 175-unit acquisition in Palm Springs; and Alliant Capital closes three refinancing loans.
UIPGC Completes $4.5M Renovations on D.C. Community
UIP General Contracting recently completed a $4.5 million renovation on a six-building garden-style community called Takoma Flats.
Upstate New York Affordable Housing Redevelopment Under Way
The Corr Community Center, which is an important part of the redevelopment of Liberty Gardens, a 180-unit affordable housing community, has been opened.
Pathfinder Partners Acquires Townhome Community for $3.13M
Pathfinder Partners has purchased 16 unsold units and an adjacent parcel of land for 10 additional townhomes at Aragon, a Mediterranean-style townhome community, for $3.125 million.
Economy Watch: Fed May Continue Stimulus (or Maybe Not)
According to St. Louis Federal Reserve President James Bullard, speaking at 19th Annual Conference of Montreal, which was organized by the International Economic Forum of the Americas, low U.S. inflation has been a surprise.