News
New Manhattan Rental Property Unveils Lobby Artwork
Related Cos. has unveiled four works by painter Derek Reist at 1214 Fifth Ave., its 53-story rental tower in Carnegie Hill, on the Upper East Side of Manhattan.
Fannie Mae and its Lenders Finance $33.8 Billion in Multifamily Loans in 2012
Fannie Mae provided $33.8 billion in financing to the multifamily market in 2012, the third highest acquisition year in its history.
21 Percent Drop In Volume of Commercial and Multifamily Mortgages Maturing This Year
$119.5 billion, 8 percent of the outstanding balance, of commercial and multifamily mortgages held by non-bank lenders and investors will mature in 2013, a 21 percent decline from the $150.6 billion that matured in 2012, according to today’s release of the Mortgage Bankers Association’s (MBA) 2012 Commercial Real Estate/Multifamily Survey of Loan Maturity Volumes.
Wood Partners Begins Construction on 200-Unit Orlando Community
Wood Partners announced is has begun construction on a 200-unit community on Spring Lake at the entrance of Doctor Phillips, a residential district in Orlando, Fla.
Stephen York Named 2012 Arbor Top Producer
Stephen York was recently named the 2012 Arbor Commercial Mortgage top producer. York is a vice president at Arbor Commercial Mortgage, responsible for originating Fannie Mae, FHA, CMBS, Bridge, Mezzanine and Preferred Equity transactions nationwide.
TODAY’S DEALS: ARA Sells 180-Unit Asset in Texas
An Oregon-based buyer acquires a Texas asset; Marcus & Millichap sells a N.J. HUD community for $16.1 million; and Gebroe-Hammer completes four sales in Southern New Jersey/Philadelphia.
Sterling at Silverleaf Phase Two Coming to Scottsdale
Plans were finalized in mid-January for phase two of Sterling at Silverleaf in Scottsdale, Ariz. A dozen luxury villas starting at $2.2 million will break ground in early spring, with a phase three of 213 luxury condominiums to follow.
Economy Watch: Number of Marginally Attached, Discouraged Workers Down
At a net of 157,000 new jobs, the rise in employment during January wasn’t particularly strong, but there was other good news in Friday’s Bureau of Labor Statistics report.
Mill Creek Residential Announces New Glendale Luxury Apartment Community
Located at 610, N, Central Avenue, the site will be the home of a new, six-story, mid-rise, high-end apartment structure, one of the first properties of its kind for the developer. Resident amenities will include an underground parking facility, a resort-style pool and spa, an around-the-clock fitness center and yoga facility, a resident clubroom featuring a kitchen and business center, as well as two rooftop decks offering views of the nearby Verdugo Mountains.
Edison Village Slated for Spring Start
Edison Village in West Orange Township has won final site plan approval in preparation for construction to start this spring. The $230 million project is an industrial-to-residential adaptive reuse redevelopment of the historic Thomas Edison Invention Factory.