News
Cervera Real Estate Expansion Highlights Recovering Florida Economy
Cervera Real Estate, a South Florida luxury condominium realtor, has just added five new locations across Florida to its current network of five offices.
Fears of a Double Dip
Would the apartment sector, which just saw a strong turnaround in occupancies beginning last year, have to say goodbye to its good fortunes? So soon?
Economy Watch: New Homes Sales Back in the Cellar
The economic tumult of spring and summer have apparently discouraged Americans from buying new homes. According to the U.S. Census Bureau on Tuesday, new home sales in July sold at an annualized rate of 298,000, a drop of 0.7 percent from June.
Pittsburgh’s Piatt Place a Model in Green Evolution
Piatt Place, a mixed-use destination with 60 upscale residential condominiums in downtown Pittsburgh, is green to the bone. Completed by Millcraft Industries in 2009, the property is a shining example of how a non-green building can be reincarnated with a sustainable structural material to become a model of green development, and how it can help revitalize a city.
CWCapital Escalates Pace of Multifamily Deals
Earlier this month, the Mortgage Bankers Association reported that multifamily lending increased a whopping 114 percent between the second quarter of 2010 and the second quarter of 2011, much of which was during 2Q11 itself, which saw a quarter-over-quarter increase of 47 percent in multifamily lending.
TODAY’S DEALS: Beech Street Provides $12.6M in Acquisition Financing
Beech Street provides $12.6 million in loans for the acquisition of four communities; Walker & Dunlop closes a $14 million refinance loan on a student housing community; and Lee & Associates transacts $4.7 million sale to private investment group.
Marcus & Millichap Promotes Ahadian, Bassirpou, Bijlani to Vice President Investments
Encino, Calif. – The board of directors of Marcus & Millichap Real Estate Investment Services has promoted Neema Ahadian, Rahul R. Bijlani and tk to the position of vice president investments in the Los Angeles, Houston and Newport Beach offices, respectively. This designation exemplifies superior performance in the accomplishments an associate has achieved in his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession. Ahadian began his career with Marcus & Millichap in September 2003, specializing in the sale of multifamily properties. Most recently, Ahadian held the position of associate vice president investments….
Economy Watch: Mortgage Delinquency Rates Offer Good News, Bad News
The Mortgage Bankers Association reported on Monday that the percentage of U.S. households delinquent on their mortgages rose by a slight 12 basis points during the second quarter of 2011 to 8.44 percent compared with the first quarter.
TODAY’S DEALS: Walker & Dunlop Closes $26M Refinance for Nevada Community
Walker & Dunlop closes the $26 million refinance of a 306-unit community in Las Vegas; Marcus & Millichap closes the sale of a 245-unit community in Florida; and BMC Capital arranges a $2.6 million interest-only acquisition loan.
Brooklyn Building Tabbed ‘2010’s Best Selling’ Now 100 Percent Sold
The once-stalled condominium structure Property Shark anointed as “Best Selling Building of 2010,” Brooklyn’s be@schermerhorn, is now 100 percent sold.