News
Encore Multi-Family to Begin New Tulsa Development
Oklahoma City–Encore Multi-Family has completed HUD financing for its new 248-unit garden-style apartment property in the Tulsa suburb of Bixby, Okla.
TODAY’S DEALS: Kennedy Wilson Sells 286-Unit Community for $43M
Kenedy Wilson sells a 286-unit asset for $43 million; Carroll Organization acquires three off-market properties; and ARA brokers the sale of Michigan REO manufactured housing.
Freddie Mac Offers $1 Billion in Multifamily Securities
McLean, Va.–Freddie Mac has announced a new offering of Structured Pass-Through Certificates (“K Certificates”), multifamily mortgage-backed securities.
Affordable Seniors Housing Meets Green Certification in the Bronx
Bronx, N.Y.–Serviam Gardens II, a 158-unit affordable seniors housing community, is the first in the Bronx to reach completion with Enterprise Green Communities Certification.
Economy Watch: Jobs Report Solid, with Some Exceptions
The economy added 244,000 jobs in April; a commodity price index drops steeply; and consumer credit expands.
RealPage Acquires Compliance Depot
Carrollton, Texas—A wholly owned subsidiary of RealPage Inc. has acquired the assets and selected liabilities of Compliance Depot.
Atlanta Affordable Housing Property Finishes Redevelopment
Atlanta–Hercules Real Estate has completed the renovation of the former Amal Heights community just south of downtown Atlanta–rechristened the Villas at Lakewood.
TODAY’S DEALS: MAA Completes Two Florida Acquisitions
MAA acquires two recently constructed apartment communities in Florida; Edgewood Capital finances the acquisition of a 186-unit property in Jacksonville; and Berkadia originates an acquisition loan at 80 percent LTV.
Condo in Morristown Named Community of the Year by NJBA
Morristown, N.J.–The luxury condominium community 40 Park has won Community of the Year from the New Jersey Builder’s Association.
Economy Watch: Hiring Surprisingly Strong in April
The U.S. Bureau of Labor Statistics report on hiring turned out better than expected; retailers reported strong sales in April; and a few commodities showed symptoms associated with bubbles popping.