News
Ground Breaks on $14M Upscale Rental Retirement Community in Florida
Melbourne, Fla.–Work has gotten underway on Sonata at Melbourne, a 127-residence rental retirement community that will help fulfill a need for seniors housing.
Extell’s Riverside Center on Track for Late 2010s Completion
New York–The 3 million square-foot mixed-use Riverside Center is on track, and will include 2,500 apartment units and a 250-room hotel.
TODAY’S DEALS: HFF Closes $42.8M Atlanta Sale
Holliday Fenoglio Fowler closes a 301-unit apartment sale in Atlanta; Marcus & Millichap sells an 84-unit assisted living facility in Louisiana; and Hendricks & Partners Brokers sale of townhomes at 5.13% cap.
Economy Watch: Private Sector Hires, Public Sector Fires
Jobs numbers look good for March; construction spending is down; and Ron Paul wants to take the Fed to task for lending to non-American banks.
‘Foong on Finance’: GSE Reform Update
It has been a busy week on the GSE and financial reform fronts, with hearings in both the Senate and the House.
Bay Area Transportation Commission Creates Affordable Housing Fund
Oakland, Calif.–The Oakland-based Metropolitan Transportation Commission has established a new $50 million revolving loan fund for affordable housing developers.
Improved Assets Mean Improved Community: Harlem Multifamily Owner
New York–In light of planning grants through the new Choice Neighborhoods Initiative, private multifamily owners are eager to point out how their own investments in multifamily properties can improve neighborhoods and quality of life.
TODAY’S DEALS: Western National Acquires Allure Apartments for $38.1M
Western National Realty Advisors acquires community for $38.1 million; NAI Tampa Bay represents buyer on lened-owned purchase; and CB Richard Ellis negotiates $970K sale of apartments.
Magnussen Appointed Arbor NYC Director
Uniondale, N.Y.–Arbor Commercial Funding, LLC has appointed Timothy Magnussen to director in Arbor’s New York City office.
Economy Watch: Employment Treads Water in March
The U.S. Bureau of Labor Statistics shows the labor market holding on, despite international nervousness; an ISM report is not as optimistic; a suit against Freddie Mac is dismissed; and new information comes to light regarding Fed lending in 2008.