News
APARTMENT MARKET STATISTICS: November 2012
The Apartment Market Statistics section of the November 2012 issue of MHN features a range of important multifamily data. This month’s data shows, for example, Marcus & Millichap’s survey of apartment markets in the top U.S. metros.
Urban American Management Expands Veterans Housing Initiative
Urban American Management created VHI two years ago in response to reports of veterans who are unable to find affordable housing when they returned to civilian life, which in some cases leads to homelessness. In addition, qualifying veterans of Iraq and Afghanistan and current service members remain eligible for free rent in the first month of their leases.
TODAY’S DEALS: MEPT Buys Denver Asset for $90.8M
Multi-Employer Property Trust completes a Denver buy; Centerline Capital Group provides a $17.6 million loan to a community in Rochester, N.Y.; and HFF arranges $32.08 million in acquisition financing via Freddie Mac.
Economy Watch: Industrial Production Dips Due to Sandy
Even if temporary, the storm has had an outsized impact on certain aspects of the entire economy, because it hit such a densely populated and economically active part of the Eastern Seaboard. Without the storm, industrial production would have increased for the month.
Economy Watch: CPI Increases Slightly in October
The Bureau of Labor Statistics said on Thursday that the U.S. Consumer Price Index (for all items) edged up 0.1 percent in October. Over the last 12 months, the all-items index increased 2.2 percent—a fairly low rate of inflation, and in fact roughly what the Federal Reserve sees as its target rate under its dual mandate.
Real Estate Veteran David Walker Joins Urban Partners/Harbor Urban
David Walker, a real estate veteran with more than 20 years of industry experience, has joined Urban Partners LLC and Harbor Urban LLC as vice president of Capital Markets.
Freddie Mac Announces 16th Multifamily Securities Offering This Year
Freddie Mac recently announced a new offering of Structured Pass-Through Certificates, which are multifamily mortgage-backed securities.
September New York City Multifamily Transactions Decline
A modest decline was witnessed in New York City multifamily transactions during September, according to Ariel Property Advisors’ Multifamily Month in Review: New York City.
MHN Interview: Kiser Group on Targeting the Mid-Market Multifamily Segment
Kiser Group, a Chicago-based commercial real estate brokerage company, focuses on the mid-market multifamily segment. MHN talks to Lee and Estella Kiser, both principals of Kiser Group, about their approach to this market.
Cooper Square Realty to Manage New Rochelle, N.Y., Luxury Building
Cooper Square Realty announced that it has been selected to manage The Lofts at New Roc, located in New Rochelle, N.Y.