News
TODAY’S DEALS: CBRE Lists Two Luxury Communities Totaling 1,198 Units in Chicago
CBRE lists two luxury Class A assets totaling 1,198 units in Chicago; NorthMarq arranges a $15.1 million mortgage for a community in Lacey, Wash.; and Mortgage Equicap arranges $5 million bridge loan at less than 1.0 DSC.
NAHB Finds Seniors Housing Developers More Keen on Apartments than Condos
Washington, D.C.–The National Association of Home Builders (NAHB) has released its 55+ Housing Market Indices for the second quarter, and the verdict is in: builders of seniors housing feel far more warm and fuzzy about development and demand in the multifamily rental market than sales in the multifamily condominium market.
Ares Management LLC Acquires Wrightwood Capital
Los Angeles—Ares Management LLC has acquired the investment platform of Wrightwood capital, a provider of debt capital to the U.S. commercial real estate sector. Terms of the transaction were not disclosed. As a result of this transaction, more than 40 Wrightwood professionals have joined the Ares Private Debt Group to focus on middle-market lending in the commercial real estate sector. They will be a part of the Ares Commercial Real Estate, or ACRE, investment team, which will be headquartered in Chicago with other offices in Dallas, Los Angeles, New York, Newport Beach and Washington, D.C. ACRE will be led by…
National Harbor Establishes Brisk Sales Pace in D.C. Area
Washington, D.C.–At The Peterson Cos.’ National Harbor development, more than 100 homes were sold between early 2010 and the first quarter of 2011.
Work Begins on New Apartments in Raleigh
Raleigh, NC–Ground has been broken for the Gallery at Cameron Village, a 282-unit apartment project with 16,000 square feet of retail space in Raleigh. According to the developer, Charlotte-based Crescent Resources LLC, the first apartments will be available in spring 2013.
Freddie Mac Releases U.S. Economic and Housing Market Outlook
Mclean, Va.–Freddie Mac has released its U.S. Economic and Housing Market Outlook for August, showing that despite the recent ups and downs in the capital markets the likelihood of an extended period of both relatively low short- and long-term interest rates is helpful news for the housing market’s recovery as it continues to struggle.
TODAY’S DEALS: Alcion Ventures, Golub & Company Acquire 579-Unit Community
Alcion Ventures and Golub & Company buy a 579-unit community north of Chicago; Holliday Fenoglio Fowler closes the sale of and arranges financing for a suburban Texas community; and NorthMarq arranges a $19.2 million Freddie Mac loan.
Questions to Ask Before Embarking on a Social Media Plan
Anyone who’s spent time on social media marketing knows the process can get very deep very quickly–and hours can slip by like minutes.
Adaptive Reuse Student Housing Finished in Philly
Philadelphia–The adaptive reuse redevelopment of part of the former Women’s Medical College of Pennsylvania into new student housing at Philadelphia University has been completed.
Yardi Acquires Multifamily Insurance Group
Santa Barbara, Calif.–Yardi has acquired Dallas-based Multifamily Insurance Group (MIG), allowing the company to provide ResidentShield renters insurance products to its clients. Yardi will now offer insurance coverage through ResidentShield for personal liability, personal property and living expenses for losses caused by fire, theft and other unexpected events. “Our goal is to provide our clients with a full-business solution—including dynamic rental pricing, online resident services, utility billing and resident screening—using a single platform. That integrated offering now includes the reduced insurance risk for property owners and the peace of mind for renters that ResidentShield makes possible,” says Gordon Morrell, executive…