News
California REIT Buys Kansas City Apartments
Steadfast Income REIT Inc. has acquired Library Lofts East in Kansas City, Mo., for $12.75 million. The property is a 118-unit historic loft conversion in downtown, an area that has been renovated extensively in the past decade.
Bascom Arizona Ventures Acquires $36.7M Community
Bascom Arizona Ventures has closed the acquisition of the Highlands Apartments, a 272-unit property in Scottsdale, for $36.7 million. It’s the eighth apartment property that the company has bought in Arizona.
Solhem Companies and TE Miller Developing 213-unit Community in Seven Corners
Twin Cities-based Solhem Companies and TE Miller Development have teamed to develop 7west, a 213-unit apartment complex situated in Minneapolis’ vibrant neighborhood of Seven Corners, near the University of Minnesota.
Circumspex Signs On Again as an IREM® Industry Partner
The Institute of Real Estate Management (IREM®) announced that Circumspex LLC has become a 2013 IREM® “Industry Partner,” continuing the mutually rewarding relationship between the two organizations that was formalized in 2011.
Commercial and Multifamily Mortgages Banks’ Best Performing Loans and Leases through Credit Crunch and Recession
An analysis of data from the Federal Deposit Insurance Corporation (FDIC) shows that commercial and multifamily mortgages fared better through the credit crunch and recession than any other major type of loan held by banks and thrifts, according to a DataNote released today by the Mortgage Bankers Association (MBA).
Corvias Campus Living Announces New Headquarters
Corvias Campus Living, the student housing division of Corvias Group, a privately owned, vertically integrated real estate solutions group, announced today that it has opened a new headquarters office for Corvias Campus Living, the company’s student housing division, in Cary, N.C.
Economy Watch: Forbes Updates Billionaire List for ’13
Forbes magazine published its 27th annual list of billionaires on Monday, with most of the usual suspects populating the tip-top of the list, such as Mexican communication mogul Carlos Slim Helu, Bill Gates, Warren Buffet and the Koch brothers all making appearances, though they fluctuate in position from year to year.
Corelogic Names Pam Storm Senior Vice President of Specialty Credit
CoreLogic, a residential property information, analytics and services provider, announced the appointment of Pam Storm as senior vice president of Specialty Credit.
Thomas K. Sittema, CEO of CNL Financial Group, Joins Crescent Resources Board of Directors
Thomas K. Sittema, chief executive officer of CNL Financial Group, a leading private investment firm that provides global real estate and alternative investments, has joined the board of directors of Crescent Resources, a real estate investment company based in Charlotte, N.C., focused on multifamily, residential and commercial developments.
Berkadia Closes on Apartment Refinance Deals
The New Jersey office of Berkadia Commercial Mortgage LLC recently closed two deals totaling $89.5 million in financing for multifamily properties located in Rhode Island and New Jersey.