News
DEAL OF THE DAY: NorthMarq Arranges $25.388M, Interest-Only, Fannie Mae Loan through AmeriSphere
NorthMarq Capital’s San Francisco regional office has arranged a $25.388 million first mortgage for Jefferson at Carmel Mountain Ranch.
Mixed-Use Crown Square Project in St. Louis Completed
St. Louis–Crown Square, a $35 million restoration of 27 buildings in what used to be the 14th St. pedestrian mall near the historic Crown Candy Kitchen in St. Louis, has been completed.
MARKET SNAPSHOT: National Buyers Pursue Assets in Music City
Nashville, Tenn. –Year-over-year fundamentals indicate that the Nashville metro area is on the rebound.
Affordable Housing Project in Southern California’s Orange County Garners Council’s Approval
Irvine, Calif.–Jamboree Housing Corp.’s development of a 70-unit affordable housing community in Buena Park, Calif., took a big step forward.
DEAL OF THE DAY: ARA Brokers Student Housing Sale; Properties to be Repositioned
Atlanta-headquartered ARA recently arranged the sale of two multifamily communities in Huntsville, Texas: Cornerstone Apartment Homes with 84 units, and Woodcreek Apartment Resort with 196 units.
Fannie Mae Multifamily Investment Drops During First Half 2010
Washington, D.C.–During the first half of 2010, Fannie Mae, through its lenders and various other partners, provided $5.9 billion in investment to the multifamily rental housing market.
Pritzker Realty Group and The Bozzuto Group Form $75M JV to Acquire, Develop MF Properties
Atlanta–The group will invest in Class A Properties, mixed-use TODs as well as luxury rentals.
House Financial Services Committee Takes Key Step Toward Enacting Choice Neighborhoods Initiative
Washington, D.C.–The House Financial Services Committee took a key step toward the enactment of an Obama Administration priority, the Choice Neighborhoods Initiative. This proposal is designed to transform distressed neighborhoods and public and assisted housing developments into viable and sustainable mixed-income neighborhoods by linking housing improvements with appropriate services, schools, public assets and access to jobs. The initiative was passed on a 42 – 27 voted by the committee as part of a larger public housing measure (H.R. 5814) that also included proposals aimed at clarifying federal rules for replacement of demolished housing units, and providing new methods for financing…
MHN Interview with Jay Jacobson: The Miami Market is Really Strong Right Now
Jacobson talks to MHN about plans for the acquisition team and why he believes the South Florida market is the strongest he has seen in many years.
Freddie Mac Chief Economist Foresees Slow But Steady Recovery for Economy, Housing
Schaumburg, Ill.–Frank E. Nothaft, chief economist of Freddie Mac is optimistic that there is a recovery under way, positing that a double-dip recession is unlikely.