News
TODAY’S DEALS: Colliers Completes Sale of 82-Unit Calif. Multifamily Property
Colliers completes the sale of an 82-unit California multifamily complex for $11.6 million; AREA Property Partners acquires two Tampa properties for $78 million; and Johnson Capital secures financing with lower rates and longer amortization periods.
Marcus & Millichap Hires Bornhorst as MF Investment Specialist
Denver–Marcus & Millichap Real Estate Investment Services has hired Brian Bornhorst as a multifamily investment specialist.
Economy Watch: Financial Crisis Panel Offers Split Conclusion
Financial Crisis Inquiry Commission releases its report, shedding little light on what caused the economic meltdown of 2008. Pending home sales and economic activity indicate that we’re on our way back from dark times.
BCN Plans Condos for Brooklyn Law School Property
New York–BCN Development has inked a deal with Brooklyn Law School to acquire the school’s former residence hall and convert the Beaux-Arts style building into 24 two-bedroom condominiums.
Section 8 Property in Houston Emerges from $7.5M Makeover
Houston–St. James Apartments, a 150-unit, 30-year-old affordable housing community, has experienced a a $7.5 million upgrade at the hands of Dominium.
TODAY’S DEALS: Huntington Bank on Track to Meet $100M Affordable Housing Goal
Huntington Banks surpasses halfway point in $100 million commitment to Ohio affordable housing; Largo Group arranges a $27 million first mortgage for N.Y. apartments; and NorthMarq closes $16.75 million first mortgage financing on Calif. apartments.
JLL to Acquire Primary Capital Advisors Group
Atlanta–Jones Lang LaSalle intends to broaden its capital markets platform by entering into a definitive agreement to acquire certain assets of Primary Capital Advisors.
Property Solutions Survey Shows Marketing Trends Going Electronic
Provo, Utah–The results of Property Solutions’ marketing survey show that online marketing trends are growing in the multifamily industry.
Economy Watch: New Home Sales Edge Up Unexpectedly
Home sales increased in December; the Fed isn’t worried about inflation yet; and–news flash–the federal deficit is out of control.