National
New LIIF-Enterprise Partnership to Push for TOD
Low Income Investment Fund and Enterprise are forming a partnership to advance the cause of transit-oriented development nationally.
TODAY’S DEALS: Denver High-Rise Sale Commands Record Price per Unit
Zocalo Community Development sells a 120-unit LEED Gold community for $37 million; Jones Lang LaSalle announced the firm’s Mid-Atlantic multifamily team has closed a sale on behalf of an affiliate of Florida-based Priderock Capital Partners; and Johnson Capital arranges an acquisition loan for a luxury community in Texas.
TODAY’S DEALS: Marcus & Millichap Sells Two Student Housing Communities
Marcus & Millichap brokers the sale of two southern student housing communities; ARA arranges the sale of a 180-unit community in Phoenix; and George Smith Partners completes a challenging $4.2 million refinance of an SRO property.
TODAY’S DEALS: MG Properties Group Acquires Mixed-Use Condo Conversion
MG Properties Group buys a 33-unit condo conversion for $11.8 million; IPA brokers the sale of a 392-bed student housing community at USC; and Walker & Dunlop provides Freddie Mac funding to two student housing properties.
TODAY’S DEALS: Clarion Partners Grabs $100M Seniors Portfolio
Clarion Partners acquires three senior housing communities for $100 million; ARA completes an REO sale in Florida; and Alliant Capital arranges a $1.7 million refinance at 4.78 percent interest rate.
DLA Piper 2011 State of the Market Survey: Multifamily Rules
According to DLA Piper’s 2011 State of the Market survey, multifamily is the most attractive investment opportunity for real estate.
TODAY’S DEALS: Grubb & Ellis to Acquire 10 Skilled Nursing Facilities
Grubb & Ellis enters an agreement to buy 10 skilled nursing facilities for $166.5 million; Prudential Mortgage Capital Co. puts a 200-unit Arizona community on the market; and Grandbridge funds a $72 million Freddie Mac loan carrying low-4 percent interest.
KAREA Acquires Three Student Housing Properties Near State Schools
Student housing is widely still considered “recession-resistant” as demand for such housing rises with enrollment, which (if anything) has been bolstered by the ravages of the economy.
Student Housing Income and Expense Survey Shows Northeast Spends Less On Operating Expenses
Washington, D.C.–The National Multi Housing Council’s National Student Housing Council (NSHC) recently released its “Off-Campus Student Housing: 2011 Income and Expense Benchmarking Survey.”
TODAY’S DEALS: IPA Secures Listing for Los Angeles High-Rise
IPA secures the listing contract for a 180-unit high-rise in L.A.; HFO Investment Real Estate and Colliers broker the sale of a three-community portfolio in Oregon; and Radco Co. invests in two Atlanta multifamily properties.