News
Jonathan Lahn Joins WNC as Vice President, Originations
WNC, a national investor in real estate and community renewal initiatives, announced today that Jonathan Lahn has joined the company as vice president, originations.
New Seniors Housing Slated for South Orange County
Construction will begin soon on Crestavilla, a new seniors housing property in Laguna Niguel in southern Orange County. Located on 11.5 acres, the property will offer independent and assisted living, as well as memory care.
Passco Acquires Luxury Georgia Community for $25.5M
Passco Companies recently acquired The Glen at Alexander, a luxury multifamily community in Augusta, Ga., for $25.5 million. To finance the property, Passco received a $14 million Fannie Mae loan.
TODAY’S DEALS: Lynd, Endeavor Begin 36-Story Luxury Asset in Austin
A joint venture breaks ground on a luxury Austin asset; Oden Hughes begins a 570-unit community also in Austin; and KeyBank Real Estate provides $45.7 million in Fannie Mae and bridge loans for Atlanta properties.
Walker & Dunlop raises $100K for Fannie Mae’s Help the Homeless Program in 2012
Walker & Dunlop Inc. announced that it raised $100,000 for Fannie Mae’s Help the Homeless Program® (HTH), through the Company’s annual fundraising efforts in 2012. Since 2006, Walker & Dunlop has raised over $500,000 for HTH.
South African Developer Secures Financing for Retail and Residential Projects in Pretoria
Nedbank Corporate Property Finance, a Durban-based financial organization, has reportedly provided a Pretoria, South Africa, developer with crucial financing that will be used in the development of two properties.
Baker & McKenzie Advise on Starhill’s A$415M Australian Hotel Portfolio Purchase
Starhill REIT, a listed Malaysian REIT, has recently closed on an A$415 million acquisition of three premier Australian hotel properties: Sydney Harbour Marriott Hotel, Brisbane Marriott Hotel and Melbourne Marriott Hotel.
ULC Preserves 100 Workforce Homes in Lakewood, Colo.
The Urban Land Conservancy has acquired a 100-unit rental property in Lakewood, Colo., located at the Wadsworth Light Rail Station on the West Corridor of FasTracks to preserve workforce housing near public transportation.
MARKET SNAPSHOT: Vacancy in San Diego Remains Flat as Hiring Picks up Pace
After witnessing a net loss of 3,800 positions last year, employment in San Diego has seen a resurgence over the last few quarters, with payrolls expanding by 7,700 workers in the third quarter of 2012 alone.
Economy Watch: Housing Starts Drop in November
Private housing starts in November came in at an annualized rate of 861,000 units, according to the Census Bureau. That’s 3 percent below the revised October estimate of 888,000, and adjusted for the fact that colder weather slows down housing construction.