News
‘Foong on Finance’: Historic Preservation Awards
The National Housing & Rehabilitation Association (NHRA) in association with the National Trust Community Investment Corp. has honored eight historic buildings in its annual awards ceremony.
Opportunistic Buyer Seeks Second-Tier Multifamily
New York–The feeding frenzy is on for trophy multifamily properties in top-tier markets.
Property Tours: 88 Leonard
Kristen Mayer, Leasing Manager at 88 Leonard in Tribeca takes MHN on a tour of the luxury property.
With Money In Hand Education Realty Trust Starts $35M Student Housing Project in Pennsylvania
Mansfield, Pa.–Financing for the development of a new student housing project at Mansfield University in Mansfield, Penn., has just closed and, with, funds in place for the $35 million endeavor, developer Education Realty Trust Inc. has commenced construction.
DEAL OF THE DAY: Arbor Closes $2.7M Refinance for Small Loan
Mankato, Minn. – Arbor Commercial Funding, LLC recently funded a $2,866,500 mortgage under the Fannie Mae DUS Small Loan product line for the 70-unit complex known as Village Place Apartments in Mankato, Minn. The 10-year loan amortizes on a 30-year schedule.
MHN Interview With Evan Gladstone: High Demand for Foreclosed Multifamily Now
Evan Gladstone talks to MHN about distressed multifamily properties.
Apartment Market Weathered ’09 Reasonably Well: IREM
Chicago–Though the apartment industry has seen better years, 2009 wasn’t a terrible one in a number of ways for the industry, according to a new benchmarking study published by the Institute of Real Estate Management (IREM).
New Green Developer Transforms Brownfield into Residential Project in Oberlin, Ohio
Oberlin, Ohio–Sustainable Community Associates Inc., a newly established real estate company, has just completed its first project, a Brownfield reclamation endeavor that has resulted in a new mixed-use residential property in Oberlin, Ohio.
Walters Group Project Wins Governor’s Excellence in Housing Award
Atlantic City, N.J.–Stafford Park Apartments, developed by Walters Group, won the Governor’s Excellence in Housing Award from the New Jersey Department of Community Affairs (DCA) and New Jersey Housing and the Mortgage Finance Agency (HMFA). The residential project won in the category of Outstanding Affordable Housing Development. The annual award ceremony recognizes individuals and organizations that meet state needs and current housing goals. Stafford Park Apartments was recognized for its innovative concept and design. “Once a site for serious environmental issues, we built Stafford Park Apartments to be sustainable, have aesthetic qualities and be affordable for the families who live…
DEAL OF THE DAY: NorthMarq Arranges $10.35M in Capital Markets, Early-Rate-Lock Execution
Lakeside, Calif.–NorthMarq Capital completed a first mortgage financing of $10.35 million for Stoneridge Apartments, a 132-unit multifamily property located at 12840-12854 Mapleview Street in Lakeside, Calif.