News
Magellan Launches First Apartment Development in Twin Cities
There has not been an apartment tower built in the downtown Minneapolis market for more than three decades. But that is about to change, with the start of construction on a new high-rise apartment community in the city’s Loring Park area from Chicago-based Magellan Development Group LLC.
Economy Watch: CBO Details Impact of Fiscal Cliff
The Congressional Budget Office—which, despite the name, Congress is under no obligation to listen to—reported on Thursday on the “economic effects of reducing fiscal tightening.”
TODAY’S DEALS: Norris, Beggs Arranges a $26.5M Acquisition Mortgage
Norris, Beggs arranges a $26.5 million acquisition mortgage; and Boston Capital invests in the rehabilitation of two multifamily apartment communities for seniors in Virginia.
Grandbridge Closes on $6.2M Loan for Arkansas LEED Platinum Student Community
Grandbridge Real Estate Capital recently closed on a $6.2 million first mortgage loan for a student housing community near the University of Arkansas.
Austin Student Housing Trades for $46.7M
Crescent Resources has sold Circle West Campus for $46.77 million to an undisclosed buyer.
$300 Million Grand Hyatt Hotel and Residences Announced in Manila, Philippines
Property developer Federal Land Inc. recently announced it has entered into a joint venture with Japan-based financial services group Orix Corp. to develop a $300 million mixed-use facility in Bonifacio Global City, Manila, Philippines.
Artists Lofts Opens in St. Louis
Metropolitan Artist Lofts, a redevelopment of a vintage 1908 property in St. Louis, has opened for occupancy.
Four Points by Sheraton Berlin Airport to Open in 2014
Starwood Hotels & Resorts Worldwide Inc. has announced plans to introduce Four Points by Sheraton Berlin Airport in Germany’s capital city.
NCSHA Announces New Board of Directors
The National Council of State Housing Agencies (NCSHA) announced its new Board of Directors, elected by its state HFA members.
BC Invests in 120-Unit Community
Thanks to tax credit equity from the Low Income Housing Tax Credit program, Boston Capital has invested in the Bradford Mews Apartments, a 120-unit development for families in Smithfield, Va.