News
Inland American Communities to Develop 300-Unit Student Housing Community for UNC
Inland American Communities announced that it is developing a 300-unit student housing community at the University House Boulevard, which will be walking distance from the UNC Charlotte Campus in Charlotte, N.C.
Pennrose Named Property Manager for 148-Unit Pittsburgh Community
Real estate development and management company Pennrose has added the Pittsburgh apartment community Cloverleaf Village Apartments to its management portfolio. Pennrose will manage the community on behalf of Winshaw Partners.
Rafael Cestero, CEO of Community Preservation Corporation, Honored for Leadership in Affordable Housing
As part of a Cornell University summer field study, Rafael Cestero spent a semester at the Enterprise Foundation in New York City (now Enterprise Community Partners).
VA, HUD and Jon Bon Jovi Announce “Project Reach” Grand Prize Winner
The Department of Veterans Affairs (VA) has announced the winner of a mobile application competition designed to make local assistance resources accessible to people helping homeless Veterans and others in need.
Mortgage Bankers’ Commercial/Multifamily Originations Rise to $244.2 Billion In 2012
Commercial and multifamily mortgage bankers closed $244.2 billion of loans in 2012 according to the Mortgage Bankers Association’s (MBA) 2012 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.
First-Quarter Economic Growth Stronger Than Expected
Recent data indicate that economic growth in the first quarter has accelerated to an above-trend—but likely unsustainable—pace of 3.2 percent, according to Fannie Mae’s Economic & Strategic Research Group.
Economy Watch: Housing Starts Continue Upward Trajectory
Housing starts were up in March to an annualized rate of about 1.03 million units, according to the Census Bureau.
Co-op Lender Reports Increased Volume
Lending to co-ops continues to be brisk, according to a specialist in the field, National Cooperative Bank. In March, the company originated more than $77 million in those kinds of loans, compared with $51 million in February.
TODAY’S DEALS: Kennedy Wilson Adds 188-Unit Asset to Calif. Portfolio
Kennedy Wilson completes a $34 million acquisition; American Campus Communities enters a referral agreement with the University of South Florida; and NorthMarq arranges a $28.2 million Fannie Mae mortgage.
MHN Interview: New Issues Affecting Affordable and Market-Rate Development
MHN talks with Orlando Carera, counsel, and Greg Young, a new partner, both in the Real Estate Practice Group of Squire Sanders, about development and investment trends, and their thoughts on how the sequester will affect the multifamily industry.