News
Freddie Mac Announces First Floating Rate K Certificates Offering Backed by Multifamily Mortgages
Freddie Mac today announced its first offering of Structured Pass-Through Certificates (“K Certificates”) backed exclusively by LIBOR-based, floating rate multifamily mortgages with five- and seven-year terms.
MARKET SNAPSHOT: Weak Demand for Lower-Tier Product Leads to Stagnant Vacancies in Indianapolis
Although payrolls are gradually expanding following layoffs in May and June, the picture for multifamily in Indianapolis remains somewhat mixed.
MBA Releases Commercial/Multifamily Quarterly Data Book for Q2 2012
The Mortgage Bankers Association (MBA) released its second quarter 2012 Commercial Real Estate/Multifamily Finance Quarterly Data Book.
MNS Appoints New Executive Director of Sales
MNS, a New York-based brokerage, sales and marketing firm, has hired Jennifer Johnsen to serve as executive director of sales overseeing the Sales and Rental Divisions.
Economy Watch: Case-Shiller Reports Monthly, Annual Home Price Increases
According to the S&P/Case-Shiller Home Price Indices, which were released on Tuesday, average U.S. home prices increased by 1.5 percent for the 10-city composite index and by 1.6 percent for the 20-city composite index in July 2012 compared with June.
TODAY’S DEALS: Stalled Chicago Tower Restarts with U.S. Bank Loan
Related starts a Chicago tower thanks to financing from U.S. Bank; Stoneleigh Companies and Arris Investments land construction financing for a 298-unit asset in Denver; and NorthMarq arranges a $20 million loan for a market-rate Las Vegas community.
SPECIAL REPORT: The New Apartment Development Cycle Targets Generation Y
The new apartment development cycle focuses on the needs and wants of a huge demographic that is now entering prime renter age–Generation Y, said Rohit Anand, KTGY Principal, during MHN’s Excellence Awards ceremony held in New York.
Sale of Bradenton Luxury Rental Community Completed
Lost Creek Resort at Lakewood Ranch, a newly built luxury apartment community in the coastal Florida city Bradenton, has been sold.
KKR and Partners Buy Sunrise Management Business
In the wake of HealthCare REIT’s announced acquisition of Sunrise Senior Living Inc., a partnership led by Kohlberg Kravis Roberts & Co. LP is buying Sunrise’s management company business for about $130 million.
TODAY’S DEALS: Brookfield and Fairfield Close $323M Fund
Brookfield Asset Management and Fairfield Residential close a $323 million value add fund; Beech Street provides a $21.7 million acquisition loan; and Berkadia arranges interim and permanent financing for properties in Brooklyn, N.Y.