News
Riechman to Head Centerline’s Affordable Housing Group
New York–Michael Riechman will join Centerline Capital Group on September 6 as the firm’s new head of Affordable Housing Equity.
Economy Watch: CRE Prices See Uptick in May
Commercial real estate prices were up in May; existing-home sales edge downward; and Republican leaders were at the White House again on Wednesday, trying to work out the debt crisis.
International Buyers Attracted to Condos in New York and Miami
New York–Two luxury condominiums developed by Africa-Israel USA are attracting international buyers from countries including China, Italy, Brazil, Russia and Singapore.
Freddie Mac Offers $1B in Multifamily Securities
McLean, Va.–Freddie Mac expects to offer approximately $1 billion in Structured Pass-through Certificates–K Certificates–offered to the market by a syndicate of dealers.
Historic Jacksonville Junior High Property Now Condos
Jacksonville–A former junior high school, which closed in 1997 and sat vacant for more than a decade afterwards, has been renovated into condominiums, which are now for sale.
TODAY’S DEALS: Trecap Purchases Two Oregon Communities for $53.9M
Trecap Partners acquires two communities in Oregon for $53.9 million; Western National completes a $31 million acquisition in Orange County; and Education Realty Trust closes on the ground lease of a new student-housing community at Syracuse University.
New Durham Apartments Close to Research Triangle Park
In traffic-plagued Raleigh-Durham, Greystar has started construction on an apartment community likely to give residents a break from nightmare commutes.
Economy Watch: Housing Starts Shoot Up in June
Housing starts last month were higher than they’d been in the previous five; Capitol Hill’s Gang of Six proposes a deficit-cutting, ceiling-raising plan; and AP uncovers that robo-signing is still happening.
U.S. Public Housing Needs Exceed $21 Billion
Boston–A capital-needs assessment released today by Recap Real Estate Advisors finds that public housing needs in the United States exceed $21 billion.
TODAY’S DEALS: NorthMarq Capital Arranges $98.35M Tax-Exempt Bond Securitization
NorthMarq arranges a $98.4 million tax-exempt bond securitization for a national bond portfolio; Phoenix Realty Group buys a 220-unit community in Los Angeles for $23 million; and Cassidy Turley brokers the sale of 1.7 acres of land in Phoenix for a student-housing development.