News
Castle Group Appoints Schwartz VP of Tower Division
Plantation, Fla.–The Castle Group has appointed Todd Schwartz vice president of its fast-growing Tower Division.
A Perfect Chainsaw for Maintaining Your Grounds
The new 40 volt, lithium-ion-powered Cs250 chainsaw from Oregon PowerNow is light, durable, easy to use and no louder than a power drill.
Enterprise Community Loan Fund Gets $1M Commitment to New Impact Note Investment Vehicle
Seattle–Enterprise Community Loan Fund gets its first commitment for the Enterprise Community Impact Note, a mission-aligned investment product that Enterprise Community formed last year.
TODAY’S DEALS: Vesper Holdings Acquires 506-Bed Michigan Student Housing
Vesper Holdings acquires a 506-bed student-housing community close to the University of Michigan; Phoenix-Orbach JV acquires a $46.5 million portfolio; and Kennedy Wilson closes a $63.8 million refinancing for its Japanese subsidiary.
D.C. Seniors Housing Property Begins Rehab
Washington, D.C.–Jair Lynch Development Partners has closed on financing for the redevelopment of the Paul Laurence Dunbar Apartments, a 171-unit seniors-housing rental property.
CMBS Loan Workouts: Why Some Lenders Do Things that Don’t Seem to Make Sense
Depending on the status of the property, a loan workout could put the lender in a significantly better position than if the lender were to foreclose on the property. Yet, many times a lender declines to accept the borrower’s workout offer.
Bell Divests Itself of Senior Living Communities
As it seeks to solidify its position as one of the nation’s premier multifamily companies, Bell Partners Inc. has completed a $300 million sale of almost all its senior living communities.
TODAY’S DEALS: Praedium Group, CAPREIT Acquire Minnesota Community
Praedium-CAPREIT joint venture acquires a Minnesota community for $19 million; Marcus & Millichap Capital Corporation arranges $5.3 million in financing for a Seattle property; and George Smith Partners completes financings for distressed, acquisition and refi transactions.
RealPage Acquires SeniorLiving.Net
Carrollton, Texas–RealPage, Inc. has acquired SeniorLiving.Net, an Internet lead-generation and placement network for the senior-housing market.
MHN Interview: Centaur Properties’ Harlan Berger
Harlan Berger, founder of Centaur Properties, talks to MHN about ways to leverage web 2.0 technologies when marketing multifamily properties.