News
NorthMarq Acquires New England Realty Resources
Minneapolis—NorthMarq Capital LLC has acquired New England Realty Resources (NERR) of Boston. NERR is a 30-year-old mortgage firm specializing in the origination and servicing of commercial mortgage investments. The acquisition is expected to significantly increase the production from that office. Joining NorthMarq from NERR are four industry veterans, including the firm’s founder, Jim Murphy, who will be the Boston office’s managing director. He is the former Chairman of the Mortgage Bankers Association of America and a former member of Fannie Mae’s National Advisory Council. In Boston, he served as a member of the Mayor of Boston’s Housing Finance Blue Ribbon…
PROFILE: On-Site.com
The Silicon Valley company offers its clients a completely paperless, online, lease-management process from property listing to the signing of the lease contract.
TODAY'S DEALS: Colonial Properties Buys Class A Community in Raleigh
Colonial Properties Trust buys a 350-unit community in Raleigh; Phoenix Realty Group acquires a 288-unit property in California; and Arbor funds the first FHA-insured loan with HUD’s new multifamily documents.
Multifamily REITs Looking Forward to Strong 2012
Moody’s Investors Service reports that the future looks good for REITs that specialize in multifamily properties.
Travis D’Amato Named Senior Vice President at Recap Real Estate Advisors
Travis D’Amato has joined Recap Real Estate Advisors as senior vice president, a role in which he will be responsible for building Recap’s growing transaction advisory practice.
Walker & Dunlop Hires Vice President of FHA Finance
Bethesda, Md.—Walker & Dunlop Inc. has hired Keith L. Melton as vice president, FHA Finance in its newly opened Nashville, Tenn. office. Melton will run Walker & Dunlop’s Nashville office along with David Strange, who joined the company in December. Melton will focus on multifamily and healthcare loan originations utilizing FHA financing. Prior to joining Walker & Dunlop, Melton was an FHA originator with Deutsche Bank Berkshire Mortgage Inc. He originated loans under all FHA programs during his seven-year tenure with the firm. Prior to Deutsche Bank, Melton was a commercial lender for Fifth Third Bank and First American National…
Economy Watch: Fed Pulls in Tidy Sum, Hands it to U.S. Government
The Federal Reserve gave the U.S. Treasury $76.9 billion in profits in 2011, not quite as much as in 2010, but still a very high total by historical standards.
Today's Deals: Northwestern Mutual Sells Ann Arbor Asset
Northwestern Mutual sells an Ann Arbor asset; Equity Residential sells a 432-unit property in Virginia; and Dominion America Realty closes a loan modification and finance restructure.
830-Acre Purchase Paves Way for $2.5B Smart Growth Community
LNR Property LLC, developer of the SouthField master-planned community outside of Boston in Southfield, Mass., has just wrapped up the acquisition of the final 830 acres required to bring the 1,400-acre, $2.5 billion project to fruition.
Trend Stone Achieves Granite Results without the Hassle
Replacing countertops is a messy process that includes a cost and time consuming demolition. Wouldn’t it be nice if you could just drop a new surface right onto the old countertop? Granite Transformations has designed a system to do just that.