News
Novogradac Study Calls LIHTC Program a Success
San Francisco–According to a study on LIHTCs, the program has been quite successful by all applicable performance measures.
Digitexx System Lets Owners Know if a Building Is Safe Post-Quake
Digitexx Data Systems unveils a new service that assesses damage and lets property owners know if a building is safe for re-occupation following an earthquake.
Southwest D.C. to Get First New Luxury Apartment Building in Four Years
Washington, D.C.–Camden Property Trust recently broke ground on the 276-unit Camden South Capitol, the first new luxury development in the area for four years.
TODAY’S DEALS: Phoenix, Paredim Acquire Connecticut Community for $27.7M
Phoenix Realty Group and Paredim Partners acquire a 192-unit community in Connecticut; Harbour Realty buys a 368-unit community in Tamarac, Fla.; and GFI Realty sells mixed-use buildings in a prime Brooklyn location for $10 million.
Economy Watch: IMF to Greeks: More Austerity or Else
The IMF warns of “large global spillovers” if Greece doesn’t tighten the reins on its debt; Wal-Mart fends off its Supreme Court discrimination suit; and the government files suit against J.P. Morgan Chase and Royal Bank of Scotland Group for selling bad mortgage bonds to credit unions.
RealPage OneSite Budgeting Streamlines Process for HUD Properties
Carrollton, Texas–RealPage, Inc. has introduced OneSite Budgeting for HUD properties, the latest tool for affordable housing, which streamlines yearly budgeting and form submission for HUD housing assets.
Matteson and E&S Ring Form Strategic Alliance
Culver City and Redwood City, Calif.–The Matteson Companies and E&S Ring Management Corporation have entered a long-term strategic alliance in the West.
TODAY’S DEALS: George Smith Arranges $92M in Debt, Equity Construction Loan Take-Out
George Smith Partners arranges $92 million for an L.A. community; A JV between Praedium and StarPoint acquires a 558-unit community for $79 million; and IPA brokers the sale of a 220-unit community in Southern California.
Tribeca Sells Multifamily Assets Acquired through Loan Purchase in 2009
San Francisco–Tribeca Cos. has sold nine of the 12 properties that it acquired through a loan purchase from lender UBS in late 2009, then acquired the title through foreclosure of the properties.
EaDo’s Credo: Dense, Vibrant Pedestrian-Friendliness
Capitol Oaks recently completed a 120-residence development in Houston’s East Downtown neighborhood, which has morphed into a walkable urban community.