News
DEAL OF THE DAY: NorthMarq Arranges $95.81M Tax-Exempt Bond Securitization for Multifamily Portfolio
Omaha, Neb.–John Reed, vice president of NorthMarq Capital’s Omaha Regional office, arranged a $95.81 million Freddie Mac tax-exempt bond securitization for a national bond portfolio owned by America First Tax Exempt Investors L.P.
Seniors Housing Occupancy Rates and Other Indicators Hold Steady in Third Quarter
Annapolis, Md.–According to the National Investment Center for the Seniors Housing & Care Industry’s third quarter NIC MAP, the occupancy rate, as well as rent growth and new construction activity, did not diverge much from second quarter figures, but that may very well mean that the sector has hit bottom.
Development of Santa Clara U. Student Housing Under Way
Irvine, Calif.–Ground has been broken for new student housing property at Santa Clara University (SCU) in the Silicon Valley.
ARA Report Finds Increasing Rents, Occupancies for Apartments
Atlanta–Anecdotal evidence suggests that most apartment markets are gathering steam, contrary to other kind of income-producing real estate, and now data is being published to support that notion.
DEAL OF THE DAY: Harbor Group Returns to Orlando, Fla. Market with $7.45M Purchase from AIMCO
Orlando, Fla–Harbor Group International L.L.C. (HGI) says that its affiliate has acquired the 164-unit Village Green Apartments for $7.45 million. The property is located in the Altamonte Springs submarket of Orlando, Fla., and is purchased from an affiliate of AIMCO.
‘Foong on Finance’: A Wave of Distressed Properties
Special servicers are so inundated with defaulted loans that often they can barely return borrowers’ calls. But if you think there are a lot of loans defaulting currently, this is not even the peak year of CMBS loan maturities.
$44M Mixed-Income Apartment Complex Breaks Ground on Chicago’s West Side
Chicago–A vacant site in Chicago’s historic North Lawndale neighborhood will be vacant no more once developer B-M Ogden L.L.C. is done.
MHN Interview with Bruce Barfield: Good Operators Have Effective Renewal Strategies
Barfield talks to MHN about the top property management trends and challenges he is witnessing.
Arlington Grove Multifamily Redevelopment Under Way in St. Louis
St. Louis–Construction has started on the Arlington Grove residential redevelopment project in north St. Louis.
INVESTMENT: Helios Capital Transacts More than $40M in Non-Performing Mortgages
Woodbridge, N.J.– Helios Capital LLC, a New Jersey-based commercial loan-advisory firm specializing in small balance non performing commercial loans in the secondary market under $25 million, says that it has completed more than $40 million in commercial loan transactions in N.Y. and N.J. over the past 12 months.