News
Florida Multifamily Development Going for NAHBGreen Gold
SeaBourn Cove, a 456-unit multifamily project on 23 acres in Boynton Beach, has been acknowledged as the largest such development to pursue gold level certification from the National Green Building Program.
TODAY'S DEALS: Manhattan Mixed-Use Asset Trades for $23.7M
Marcus & Milichap sells a 177-unit mixed-use asset in Manhattan; and Enterprise closes the first ever Green Refinance Plus Fannie/HUD loan.
On Demand WEBCAST: Procure to Pay
Recently, MHN hosted a webinar titled “Procure to Pay,” which featured Michael Fortinberry of eSupply Systems, Chris Elmore of AvidXchange and Chris Finetto of NWP, who discussed how e-procurement systems can benefit multifamily.
Downtown Tampa Rental Community Sold to Bell Partners
The 422-unit Seaport Channelside Apartments in downtown Tampa was sold in mid April for more than $66 million.
Economy Watch: Jobless Claims Down, Trade Deficit Up
The Bureau of Labor Statistics reported that the number of initial unemployment claims for the week ending May 5 was 367,000, a decrease of 1,000 from the previous week’s revised figure of 368,000.
Donald H. Layton Named CEO of Freddie Mac
Freddie Mac announced that its Board of Directors has appointed Donald H. Layton as chief executive officer and has elected him as a member of the Board of Directors. Layton will join the company on May 21, 2012.
MARKET SNAPSHOT: Salt Lake City Outpaces Nation in Employment, Occupancy
Salt Lake City sported one of the lowest metropolitan unemployment rates in the nation at the beginning of 2012–at 6.5 percent, down from 6.9 percent in 2011.
KBS Legacy Partners Announces New Acquisition
KBS Legacy Partners Apartment REIT, a joint venture sponsored by KBS Capital Advisors LLC and Legacy Partners Residential Realty LLC, has recently made a large multifamily acquisition.
TODAY'S DEALS: MG Properties Buys Seattle Asset for $18.5M
MG Properties group buys a Seattle asset from an affiliate of Goodman Real Estate; Primedia completes its purchase of Rent.com; and Beech Street arranges a $10 million CMBS loan to refinance a student housing asset.
Design for Highrise Residences in Beirut Complete
The design for the first phase of Waterfront City in Beirut, which will include 270 residences rising eight levels above street level, has been completed.