News
HUD Announces $189M Available to Transform Assisted Living and Public Housing
Washington, D.C.–The U.S. Department of Housing and Urban Development (HUD) is making $189 million in grants available to transform public and assisted housing and to revitalize communities.
DEAL OF THE DAY: KeyBank Provides $10M in Refinancing
Philadelphia–KeyBank Real Estate Capital recently provided approximately $10 million in Fannie Mae and Freddie Mac funding for the refinancing of two multifamily properties in the Northeast.
Ohio Multifamily Markets Mostly in Good Shape: Marcus & Millichap
Cleveland–Three recent second-quarter 2010 reports on the three major Ohio multifamily markets–metro Cleveland, Cincinnati and Columbus–by the real estate investment specialist Marcus & Millichap paint a largely optimistic picture for the property type, though not entirely.
Manhattan’s Luxury Apartment Market to Welcome 55 Thompson This Fall
New York–In just a few months, 55 Thompson will join the small list of luxury apartment buildings in Manhattan.
In Down Time, What Are MF Developers Doing?
New York–Multifamily starts have hovered in the 100,000 to 142,000-range for all of this year, which isn’t saying anything positive about the multifamily sector.
Web Feature: In Down Time, What Are MF Developers Doing?
New York–Multifamily starts have hovered in the 100,000 to 142,000-range for all of this year, which isn’t saying anything positive about the multifamily sector.
DEAL OF THE DAY: Marcus & Millichap Helps Meet Borrowers’ Needs in $6.78M Refinances
Canoga Park, Calif. – Marcus & Millichap Capital Corporation (MMCC) has arranged $6,775,000 in loans to refinance two multifamily assets. The properties and loan amounts are: a 44-unit apartment complex in Canoga Park, Calif., for $3,000,000, and a 132-unit multifamily property in Hurst, Texas, for $3,775,000. Sharone Sabar, a director in the firm’s Encino office, arranged the loans.
Wood Partners Expands Workforce, Seniors and Student Housing Development Efforts
Charlotte, N.C.–Multifamily developer Wood Partners L.L.C. has decided that the time is right to expand its Specialty Housing Group in a fairly big way, by adding new representatives in each of its five regions nationwide.
Brad Brown Joins Cortland Partners as Chief Acquisitions Officer
Atlanta–Brad Brown has joined Atlanta-based multifamily real estate firm Cortland Partners as chief acquisitions officer. “Brown has more than 20 years direct experience in multifamily acquisitions and dispositions, handling more than $1.2 billion worth of transactions involving more than 200 rental communities,” says Cortland Partners president Steven DeFrancis. “He has the skills we need as we aggressively pursue new deals.” Brown has in-depth knowledge of several key markets throughout the Southeast; Washington, D.C. metro area; Texas and Colorado. Before joining Cortland Partners, he headed the real estate investment division of Southeast Capital, where he was a senior partner. He previously…
New Student Housing Property at University of Maryland Reaches Full Occupancy as Doors Open
College Park, Md.–There is not a single room to spare at the newly developed, 154-unit University View II student apartment property near the University of Maryland in College Park, Md.