News
Deal Closings Will Preserve Affordable Housing in Bronx
Enterprise Community Partners have closed two preservation deals, valued at about $33 million, helping more than 1,450 low-income families access affordable housing in the Bronx.
Economy Watch: Greek Parliament Debates More Austerity
The Greek parliament debates austerity measures needed to receive more bailout money; Freddie Mac reports that mortgage delinquencies are down; and U.S. GDP growth decelerates.
Affordable Housing Tool Recognized
Boca Raton, Fla.–GoSection8.com, a rental listing service for Section 8 landlords, tenants and public housing authoritie, was recently recognized for its affordable housing portal and new deconcentration tools.
TODAY’S DEALS: CBRE Secures $99M JV Equity and Construction Loan
CBRE secures a $99 million construction loan for Magellan’s 499-unit high-rise in Chicago; MAA acquires a 297-unit community in Jacksonville, Fla.; and Arroyo & Company negotiates the sale of a 76-unit community in Santa Rosa, Calif.
Washington REIT and Crimson Partners Ink Apartment Development JV
Arlington, Va.–Washington Real Estate Investment Trust and Crimson Partners have formed a joint venture to develop a six-story, 150-unit mid-rise apartment complex in suburban Washington, D.C.
NAHB Records Continuing Improvement in Multifamily
NAHB’s Multifamily Production Index (MPI) recorded its third consecutive quarterly increase for the multifamily housing market.
SPECIAL REPORT: Echo Boomers Surpass Baby Boomers as Largest Apartment Group
Las Vegas–Baby boomers have been usurped in their position as the leading demographic group by echo boomers, say speakers at the NAA Education Conference & Exposition.
Construction Surging at Florida’s Mixed-Use Lakewood Ranch
Several projects totaling $100 million will be built this year at Lakewood Ranch, including a 380-acre neighborhood with 800 homes, 272 seniors apartments and a shopping center.
Economy Watch: New Home Sales Take a Dip in May
New home sales dropped 2.1 percent in May; the United States is tapping emergency stockpiles of crude oil and selling it on the open market; and the congressional impasse over the debt ceiling returns.
Centerline Capital Group Expands Affordable Housing Debt Team
New York–Centerline Capital Group’s Philip Melton discusses with MHN the company’s thinking behind expanding its affordable housing debt products division.