News
Development of Santa Clara U. Student Housing Under Way
Irvine, Calif.–Ground has been broken for new student housing property at Santa Clara University (SCU) in the Silicon Valley.
ARA Report Finds Increasing Rents, Occupancies for Apartments
Atlanta–Anecdotal evidence suggests that most apartment markets are gathering steam, contrary to other kind of income-producing real estate, and now data is being published to support that notion.
DEAL OF THE DAY: Harbor Group Returns to Orlando, Fla. Market with $7.45M Purchase from AIMCO
Orlando, Fla–Harbor Group International L.L.C. (HGI) says that its affiliate has acquired the 164-unit Village Green Apartments for $7.45 million. The property is located in the Altamonte Springs submarket of Orlando, Fla., and is purchased from an affiliate of AIMCO.
‘Foong on Finance’: A Wave of Distressed Properties
Special servicers are so inundated with defaulted loans that often they can barely return borrowers’ calls. But if you think there are a lot of loans defaulting currently, this is not even the peak year of CMBS loan maturities.
$44M Mixed-Income Apartment Complex Breaks Ground on Chicago’s West Side
Chicago–A vacant site in Chicago’s historic North Lawndale neighborhood will be vacant no more once developer B-M Ogden L.L.C. is done.
MHN Interview with Bruce Barfield: Good Operators Have Effective Renewal Strategies
Barfield talks to MHN about the top property management trends and challenges he is witnessing.
Arlington Grove Multifamily Redevelopment Under Way in St. Louis
St. Louis–Construction has started on the Arlington Grove residential redevelopment project in north St. Louis.
INVESTMENT: Helios Capital Transacts More than $40M in Non-Performing Mortgages
Woodbridge, N.J.– Helios Capital LLC, a New Jersey-based commercial loan-advisory firm specializing in small balance non performing commercial loans in the secondary market under $25 million, says that it has completed more than $40 million in commercial loan transactions in N.Y. and N.J. over the past 12 months.
Debra W. Still, CMB, Elected as MBA Vice Chairman
Atlanta–Debra W. Still, CMB, president and CEO of Pulte Mortgage LLC of Englewood, Colo., has been elected as the vice chairman of the Mortgage Bankers Association (MBA). Still recently served as chair of MBA’s Residential Board of Governors (RESBOG) and is a member of the association’s Board of Directors. As an active MBA member for more than a decade, Still has also served on MBA’s Strategic Planning Committee and was chair of the MBA Forward Task Force, as well as a member of MBA’s Loan Origination Task Force, Affordable Housing Committee and the Secondary and Capital Markets Committee. Still has…
Lottery Begins for Affordable-Income Apartments at $220M Project in the Bronx
New York, N.Y.–Joy Construction Corp. has just kicked off the first lottery for St. Ann’s Terrace in the Bronx, making available 380 of the 641 residences.