News
Suburban N.Y. Affordable Apartments Completed
Spring Valley Family Apartments, a mixed-use development featuring 55 units of affordable housing and 6,500 square feet of ground floor commercial space in downtown Spring Valley, has been completed.
Economy Watch: Job Creation Continues Steady Pace
The Bureau of Labor Statistics, despite speculation involving hurricane-related delays, did indeed report the monthly employment numbers on Friday, as scheduled. The result: the U.S. economy created 171,000 jobs in October, more-or-less as expected. The unemployment rate ticked up a bit, to 7.9 percent.
TODAY’S DEALS: HFF Arranges $11.5M Refinancing for Manufactured Home Community
HFF announced it has arranged an $11.5 million refinancing for Pacific Skies Estates; and Boston Capital Invests in a tax credit rehabilitation.
SPECIAL REPORT: Hurricane Sandy Likely to Stimulate Economy in Medium Term
Commercial property financing volume has increased by 25 percent in the first few weeks of the fourth quarter, said Sam Chandan, president and chief economist of Chandan Economics.
NorSouth Constructs’ Project of the Year is Green Community for Seniors
NorSouth Constructs has announced the opening of Oliver House, the second phase of a $30 million redevelopment of Allen Wilson Terrace Public Housing by the Decatur Housing Authority.
Canadian Real Estate Investment Trust Moves for Calgary Office Towers
The Morguard Real Estate Investment Trust has made an announcement regarding its most recent addition to its office portfolio. The entity has acquired a Calgary Class-A office property after the agreement to purchase the 100 percent freehold interest in the asset was finalized.
Oak Grove Capital Adds Three to Growing Underwriting Team
Oak Grove Capital, a lending partner to the market rate multifamily, seniors and affordable housing markets, announced that it has added three senior-level underwriters with an average of 13 years of experience to its growing team.
Pennsylvania Apartment Portfolio Wins $70M Refi
A seven-building apartment property portfolio, owned by Reinhold Residential and comprised of properties in Pennsylvania, has obtained refinancing to the tune of $70.2 million. All of the properties have the distinction of being historic structures that have been converted to multifamily rental space.
MARKET SNAPSHOT: Tech Industry Shores up San Francisco’s Prime Market Status
The San Francisco Bay Area remains one of the hottest multifamily markets in the country, with employment in the technology sector serving as a boon for the city’s overall economic climate.
Economy Watch: Investors Return to the Trading Floor
Wall Street was back in business again on Wednesday, despite crippled infrastructure in the equities markets’ hometown.