News
2,580-Unit Multifamily Portfolio Trades for $460M
In a joint venture, Pantzer Properties and Dune Real Estate Partners have acquired the eight-community Magazine Portfolio in metropolitan Washington, D.C. for $460 million.
Economy Watch: Quake’s Economic Impact Hard to Gauge
In the wake of the tragedy in Japan, the Bank of Japan pumps money into the country’s financial system; inflation is on consumer’s minds; and the SEC has issued the former head of Fannie Mac a Wells Notice.
WEB FEATURE: Is a Call Center Right for Your Management Team?
Call centers–both built around automated systems and live staff–are designed to deliver sales leads, improved marketing and operational efficiency. But they may not be for everyone.
CRE Consultant Predicts Lower CRE Returns until the Mid-10s
The San Francisco-based real estate advisory Wolfback is predicting a slump in U.S. commercial real estate investment returns for the next four years.
Seniors Property to Blend Historic L.A. Architecture with Modern Seniors’ Needs
Los Angeles–Parkview Living, a 75-unit affordable seniors apartment, allows the tenants to live with the amenities that modern-day seniors desire.
February Job Gain of 190,000 May Have Been Overstated
The real job gain statistic in February may have been negative.
TODAY’S DEALS: Walker & Dunlop Closes $12.7M Refinance of Construction Loan for Texas Student Housing
Walker & Dunlop closes $12.7 million refinance of construction loan; Dolben acquires Northgate Apartments for $19.1 million; Berkadia refinances Wyoming student housing; and NorthMarq’s investment sales team arranges student housing transaction.
HUD Awards LISC $19M to Bolster Nonprofits
New York–The U.S. Department of Housing and Urban Development has awarded the Local Initiatives Support Corporation (LISC) a $19.3 million Section 4 capacity-building grant to help community-based nonprofits lead affordable housing and economic development efforts in low-income communities.
Social Housing Program Paves the Way for Development in Brazil
The Minha Casa Minha Vida (My House My Life) program is one of the world’s most ambitious social-housing programs, aiming at building 3 million homes by the end of 2014 and reducing the housing shortfall for low-income Brazilians by up to 40 percent.
Economy Watch: Foreclosures Down For Now
Foreclosures dipped in February; state unemployment rates were generally unchanged in January; and home prices are trending downward.