News
MBA Report: Commercial Loan Originations Inch Upward from Second Quarter of 2009
Washington, D.C.–The Mortgage Bankers Association (MBA) has just released its Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations, and the news is good.
Another Luxury Rental Makes Its Way into Manhattan
New York–Ohm is located at 312 11th Avenue, just one block from the green expanse of the soon-to-open Hudson River Park.
DEAL OF THE DAY: HFF Participates in GE Capital, Allied Realty Apartment Sale, Borrower Financing
The Houston office of HFF (Holliday Fenoglio Fowler LP) says it has closed the sale of, and arranged financing for, The Retreat at Cinco Ranch, a 268-unit, Class A multi-housing community in Katy, Texas.
Gulf Coast Residential Real Estate to Take a Hit
Santa Ana, Calif.–According to CoreLogic, the impact of the BP DeepWater Horizon oil spill on residential values in coastal counties along the Gulf of Mexico is expected to range from $648 million to $3 billion.
Norman A. Eastwood Promoted to SVP of Investments at Marcus & Millichap
Dallas–The board of directors of Marcus & Millichap Real Estate Investment Services has promoted Norman A. Eastwood to the position of senior vice president investments. This is one of the highest levels of recognition the firm awards to its investment specialists. The designation represents excellence in the development and servicing of long-term client relationships, according to Tim A. Speck, regional manager of the firm’s Dallas office. Most recently, Eastwood held the position of first vice president investments. Eastwood began his career with Marcus & Millichap 23 years ago, specializing in the sale of multifamily investment properties.
With a Bevy of Buyers, Atlanta Condo Property Obtains FHA Approval
Atlanta–The condominium market is changing, finally.
Student Housing Competes Using Green Features
Harrisonburg, Va.–How much does a feature such as sustainability matter to a student apartment property’s prospects of leasing success?
Urban Housing Begins Construction on Affordable Community in Big Bear Lake
Santa Ana, Calif.–Urban Housing Communities LLC (UHC) will construct The Crossings at Big Bear Lake, a 42-unit affordable housing community.
Freddie Mac Names Jerry Weiss EVP, Chief Administrative Officer
McLean, Va.–Freddie Mac named Jerry Weiss to the newly created position of chief administrative officer (CAO). Weiss will continue to serve as the company’s chief compliance officer and oversee the Compliance, Economics and Strategy, Regulatory Affairs and Mission divisions. As CAO, he will also manage two additional functions – External Relations and Human Resources. Weiss will continue to report directly to CEO Charles E. “Ed” Haldeman, Jr., as a member of Freddie Mac’s management committee. “Creating a CAO position aligns functions that position Freddie Mac as an effective means of support for our housing mission and responsible stewards of taxpayer…