News
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.
Residential Component Likely at Proposed Javits Center Redevelopment
Gov. Andrew Cuomo recently proposed replacing the convention center, opening up its location for redevelopment and the neighborhood of Hell’s Kitchen’s access to the Hudson River.
Enterprise Launches Re-Designed Integrated Website
Columbia, Md. – Celebrating its 30th anniversary year, Enterprise Community Partners Inc., together with Enterprise Community Investment Inc. recently launched a new website that integrates a wealth of information and resources into one interactive and easy-to-navigate portal serving the housing and community development industry. Using the same URL and cloud computing, users are invited to experience the impact of Enterprise’s work across the nation through compelling images and powerful stories that highlight the organization’s expertise across multiple disciplines. Developers, investors, policymakers and many other community development partners will find the latest information, technical resources and tools they need. Innovative features …