News
Florida-Based Bainbridge Expands Into Triangle Apartment Market
Wellington, Fla.-based Bainbridge Cos. has opened a new office in Cary, N.C., with a goal of expanding its operations in the Triangle apartment market (Raleigh, Durham, Chapel Hill and environs, also known as the Research Triangle).
Tahl Propp Equities Celebrates Opening of CASA Washington Heights
The executive team of TPE, one of the largest owners of rent regulated and affordable housing in Harlem, celebrated the opening of CASA , an AIDS Service Center facility at their building an Washington Heights.
Portland Pair Taps Thriving Employment Centers
Two new Portland-area apartment communities that broke ground last week are strategically sited to leverage burgeoning employment centers and heavily-used transportation hubs.
Economy Watch: What Next for the Euro-Zone?
Various Euro-zone policymakers, perhaps embarrassed that even the U.S. Treasury Secretary can take them to task for not dealing with their debt crisis any better than they have, met in Washington over the weekend to hash things out.
TODAY’S DEALS: MG Properties Group Acquires $23.3M Seattle Community
MG Properties Group acquires a 146-unit community in Seattle; Johnson Capital arranges $13 million for two properties in Orange County, Calif.; and CBRE arranges the $54.5 million sale and acquisition financing of a large multifamily property in Minnesota.
Energy-Efficiency Loans See Few Defaults, But Banks Still Mostly Not Interested
Washington, D.C.–A new report by the American Council for an Energy-Efficient Economy (ACEEE), “What Have We Learned from Energy Efficiency Financing Programs?” finds that energy-efficiency loan programs for building upgrades have exceedingly low default rates, ranging from 0 percent to 3 percent. The report drew its conclusion from a review of 24 energy-efficiency loan programs.
Not Your Father’s Student Housing: Banks Looking to Lend on Student Housing
Providence, R.I–Not so long ago, banks viewed the prospect of financing the development of student housing with skepticism, if not out-and-out resistance. No more. Banks today have done a complete 180 on the idea of financing student housing. And there’s a good reason for that.
Economy Watch: Markets Go Chicken Little
Wall Street was in full Chicken Little mode on Thursday, worried that the economic sky was falling. And maybe it is. No less an authority on economic conditions than the Federal Open Market Committee said in its Wednesday statement–along with something about the Twist–that there are “significant downside risks to the economic outlook,” which is Fed polite-ese for “don’t let the sky hit you on its way down.”
TODAY’S DEALS: Education Realty Trust Purchases UC Riverside Student Housing
Education Realty Trust purchases their partner’s interest in UC Riverside student housing; NorthMarq Capital arranges permanent financing of $30.6 million for Las Vegas apartments; and Greenwich Village 30-unit building hits sales block for $10.95 million.
Oahu Apartments Win $56M Refinance
A group led by the Bascom Group has completed a $56 million refinancing for Oasis at Waipahu, a 406-unit multifamily property outside of Honolulu. Holliday Fenoglio Fowler arranged the deal on behalf of the borrowers, who received a 36-month, floating-rate loan with Prime Finance.