National
TODAY'S DEALS: USAA Real Estate Co., Cambridge JV Breaks Ground in San Antonio
A joint venture breaks ground on the first phase of a mixed-use development; Beech Street Capital closes $371M in Freddie Mac CME loans as 10 Baltimore assets are recapitalized; and a three-property LIHTC portfolio sells for $31,741 per unit.
TODAY'S DEALS: Florida Asset Trades for $42M
ARA arranges the sale of a Florida asset for $42 million; The RADCO Cos. acquires a 402-unit portfolio in Georgia; and Walker & Dunlop provides a $9.5 million interim loan for a stabilizing property.
Cranes Move, Construction Begins at Buckhead Atlanta
By Georgiana Mihaila, Associate Editor Lifeless cranes will no longer stand watch over the luxury mixed-use development formerly known as Streets of Buckhead; developer OliverMcMillan, who took over the project in May 2011, has reportedly restarted work on the 1.5-million-square-foot mixed-use project now entitled Buckhead Atlanta. The Atlanta Business Chronicle reports that the San Diego-based […]
Private Investment Venture Snags All Foreclosed Properties in Macomb County for $4.9 M
By Veronica Grecu, Associate Editor Former yacht dealer and millionaire Bill McMachen and an unnamed partner snapped up all foreclosed properties in Macomb County at a public auction held last week at Freedom Hill in Sterling Heights. For $4.9 million or an average of $7,500 per property, the two buyers acquired an unprecedented lot of […]
Economy Watch: Drought Worsens, Global Food Prices Will Go Up
Food prices are expected to surge worldwide as part of a cascade of ill effects from the intense drought in the United States.
TODAY'S DEALS: NorthMarq Arranges $24.1M for Tampa Asset
NorthMarq Capital arranges a $24.1 million loan; Prudential Mortgage Capital closes $70 million for five senior living residences; and YAM Management buys an Indiana skilled nursing facility for $12.9 million.
Economy Watch: Mortgage Delinquencies See Uptick
U.S. mortgage delinquencies edged up a bit in the second quarter, according to the Mortgage Brokers Association on Thursday.
TODAY'S DEALS: Harbor Group International Acquires Four-Property Portfolio for $131M
Harbor Group acquires a four-property portfolio; MC Companies buys a 170-unit Austin asset; and Beech Street refinances three assets in Connecticut to the tune of $16.7 million.
Economy Watch: Recovering Housing Market Buoys Fannie Mae
Fannie Mae reported on Wednesday that it had a net income of about $5.1 billion for the second quarter of 2012.
Multifamily Permits Continue to Rise on Annual Basis
Recent trends in multifamily permitting, which is a volatile indicator of multifamily construction, nevertheless show that there’s strong developer interest in building apartments in the post-Great Recession environment.