News
Economy Watch: California AG Targets Mortgage Fraud
The state of California has created a mortgage-fraud task force; Toys R Us is putting in the country’s largest largest solar rooftop installation; and the Chicago Fed National Activity Index took a dive last month.
Weilbach Joins Cushman & Wakefield as Multifamily Leader
New York–Steven Weilbach has joined Cushman & Wakefield as senior managing director of capital markets and head of the firm’s growing multifamily practice as U.S. multifamily practice leader.
‘On the Ground’ with Eric Brown: More Web Traffic May Not Yield More Rentals
As we gain more clients, in many instances we are seeing significant increases in web traffic but poor conversions from web traffic to actual rentals. There might be a reason for this.
CMBS Delinquency Rate to Stay in High-Single to Double Digits
The CMBS conduit/fusion delinquency rate is now 9.22 percent, an increase of six basis points, according to Moody’s Investors Service. “We expect the delinquency rate to run high-single to low-double digits over the near term,” states Tad Philipp, director – CRE Research, of Moodys Investors Service.
WEB FEATURE: Global Market Report – Asia
In the first of this three-part report on the challenges of investing and developing multifamily real estate abroad, MHN dissects impediments and opportunities in the Asian market.
AFL-CIO Housing Investment Trust Invests $58M to Build Boston Apartments
Boston–The AFL-CIO Housing Investment Trust has committed $58.2 million of union pension capital for the construction of the new Charlesview Apartments in Boston.
Bozzuto Achieves New LEED Certifications
Greenbelt, Md.–The Bozzuto Group has garnered the USGBC LEED Silver certification for properties in Baltimore and suburban Philadelphia.
TODAY’S DEALS: ARA Completes Distressed Portfolio Sale
ARA completes a 10-property distressed portfolio sale; Marcus & Millichap sells a vintage San Francisco apartment for $4.75M; and George Smith Partners arranges $17M in financing.
Economy Watch: Unemployment Edges Down in Most States
Labor statistics for April vary from state to state; IMF makes a 26 billion-euro loan to Portugal; and Donald Trump’s school is under investigation.
TODAY’S DEALS: Behringer Harvard Buys 200-Unit Community near Boston
Behringer Harvard acquires a 200-unit luxury community in a Boston suburb; Transwestern brokers a $72 million, 1,107-unit portfolio sale in Maryland; and Trade Street Capital buys a 263-unit property in Chattanooga, Tenn.