News
Housing Segment of Lagunitas Mixed-Use Project in California Sells for $10M, Readies for Development
Carpinteria, Calif.–Investec Real Estate Cos. has found an investor to buy and develop the residential portion of Lagunitas, its 25-acre mixed-use project in Carpinteria, Calif
DEAL OF THE DAY: Deutsche Bank Berkshire Mortgage Provides $161.45M Loan for Acquisition of 11 Properties
Boston–Deutsche Bank Berkshire Mortgage (DBBM) recently provided a fund managed by Eaton Vance Management with a $161,450,000 loan to acquire a pool of 11 multifamily properties located across seven states.
Paul DeCain Joins Bainbridge Cos. As CIO
Bethesda, Md.–Paul DeCain has joined The Bainbridge Cos. as chief investment officer and principal. His responsibilities with the multifamily real estate firm include transaction capitalization, underwriting and execution.
‘Foong on Finance’ with Keat Foong: Republicans May Not be Able to Liquidate Fannie and Freddie
Will apartment property values be affected by uncertainty over the fate of Fannie and Freddie? Alabama’s Spencer Bachus, who is expected to be Barney Frank’s (D-Mass.) replacement as chairman of the House Financial Services Committee, said that the GSEs ought to be liquidated and privatized.
Stalled Project in L.A. Resurrected
Los Angeles–Like so many developments that were stalled in the last couple of years because of financing issues, an 18-unit condominium project located at 817 Alfred St. between Santa Monica Blvd. and Melrose Ave. stood unfinished since 2005.
MHN Interview with Bill Killmer: Election’s Impact on Multifamily
Bill Killmer, senior vice president of legislative and political affairs at the Mortgage Bankers Association, talks to MHN about the impact of the election results on the multifamily industry.
MBA Report: Multifamily Mortgage Originations Continue to Climb in Third Quarter
Washington, D.C.–Year-over-year, quarter-over-quarter, the numbers for commercial and multifamily mortgage loan originations were on the rise, according to figures just released in the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations report.
DEAL OF THE DAY: Passco Completes Multi-Million Acquisition Of Foreclosed Property in Prime Location
Mcdonough, Ga. –Passco Companies LLC completed the acquisition of Sundance Creek, an elegant, Class A, 232-unit townhouse apartment community in metropolitan Atlanta, says company President William H. Winn.
Wilber School Apartments Wins Twin Distinctions for Green Adaptive Re-Use
Boston–The Wilber School Apartments have received both LEED gold certification under the LEED-for-Homes program, and a J. Timothy Anderson Award (a Timmy) for Best Historic Rehabilitation Involving New Construction.
KeyBank Real Estate Capital Comes Through with $106.7M for Seven NJ Seniors Housing Communities
Cleveland, Ohio–Real estate financing is still hard to come by, even for borrowers in the relatively stable seniors housing sector, but KeyBank Real Estate Capital recently stepped up to the plate for seven assisted living and age-restricted communities in New Jersey.