News
TODAY’S DEALS: Bascom, Carlyle Acquire 840-Unit Portfolio for $31.7M
Bascom and Carlyle pick up an 840-unit portfolio for $31.7 million in Denver; Trion Properties acquires a distressed 20-unit property in Los Angeles; and HFF arranges a $4.48 million Fannie Mae acquisition loan for a value-add project.
Solar Power System Completed at San Diego Affordable Housing Property
San Diego–Community HousingWorks and HelioPower have completed a Multifamily Affordable Solar Housing project at Las Serenas, an affordable housing property in San Diego.
Economy Watch: Housing Starts See Surprising Uptick in May
The homebuilding industry saw a break in the clouds in May; banks can’t keep up with the foreclosure process; and last week had fewer jobless claims than the week before.
Crawford Promoted to Apartment Finder VP of National Partnerships
Lawrenceville, Ga.—Multifamily integrated media platform Apartment Finder has promoted Patty Crawford to vice president of national partnerships.
Restarted Sterling at Silverleaf to Include Upscale Condos
Scottsdale, Ariz.–When Sterling at Silverleaf returns to the market, it will feature 16 villas, 12 “custom estates” and 180 upscale condos.
TODAY’S DEALS: HomeStreet Arranges $35M for Seattle Mixed-Use Project
HomeStreet Capital arranges $35 million for a mixed-used building in Seattle; Beech Street Capital provides a $10.4 million loan for a 274-unit community in Baltimore; and Eastern Consolidated oversees a $17 million sale of bank-owned properties.
MHN Interview: Watt Companies’ Nadine Watt
Nadine Watt talks to MHN about her new appointment as president of Watt Companies, and the firm’s shift toward acquisitions, development and joint ventures.
Design Study Proposes Ingenious Solution to Denver Water-Storage Issue
Denver–Architectural firm Meridian 105 Architecture’s proposed design for a 426,000 square-foot mixed-use residential high-rise introduces creative ideas for water conservation.
Economy Watch: Consumer Prices Edge Up, Investors Gnash Their Teeth
The Consumer Price Index posts its smallest increase since November; homebuilding sentiment is gloomy; and overseas visits to the U.S. increased in the first quarter.
Multifamily Construction, Vacancies Both Inch Upward
NAHB’s Mulitfamily Production Index finds that construction of multifamily low-rent units, market-rate-rent units and for-sale units all inched up in the first quarter, as did vacancies.