National
Freddie Mac Offers $1B in Multifamily Securities
McLean, Va.–Freddie Mac expects to offer approximately $1 billion in Structured Pass-through Certificates–K Certificates–offered to the market by a syndicate of dealers.
TODAY’S DEALS: Trecap Purchases Two Oregon Communities for $53.9M
Trecap Partners acquires two communities in Oregon for $53.9 million; Western National completes a $31 million acquisition in Orange County; and Education Realty Trust closes on the ground lease of a new student-housing community at Syracuse University.
U.S. Public Housing Needs Exceed $21 Billion
Boston–A capital-needs assessment released today by Recap Real Estate Advisors finds that public housing needs in the United States exceed $21 billion.
TODAY’S DEALS: NorthMarq Capital Arranges $98.35M Tax-Exempt Bond Securitization
NorthMarq arranges a $98.4 million tax-exempt bond securitization for a national bond portfolio; Phoenix Realty Group buys a 220-unit community in Los Angeles for $23 million; and Cassidy Turley brokers the sale of 1.7 acres of land in Phoenix for a student-housing development.
TODAY’S DEALS: Cushman & Wakefield Sells a 200-Unit Community in Mass.
Cushman & Wakefield arranges the sale of a 200-unit community in Mansfield, Mass.; Education Realty Trust and The Edwards Company close financing and begin construction on a student-housing community in Alabama; and Walker & Dunlop closes a $13.2 million HUD 223(f) loan.
TODAY’S DEALS: IPA Sells Newly Constructed L.A. Community for $133M
IPA completes the sale of a newly constructed 438-unit property in Los Angeles for $133 million; Tryko picks up a campus of age-restricted properties in West Philadelphia; and GFI sells a rent-stabilized building in Brooklyn for $5.15 million.
TODAY’S DEALS: NorthMarq Capital Arranges $55M Mortgage
NorthMarq Capital supplies a $55M refinance mortgage for an upgraded property; Johnson Capital arranges $50M in financing secured by a 414-unit community in San Francisco; and Newcastle Limited purchases two Chicago properties for $9.1M.
HUD Awards $1.9B to Preserve Ailing Public Housing Stock
Washington, D.C.–HUD has awarded more than $1.9 billion to public housing authorities to make large-scale improvements to units very much in need of repair.
TODAY’S DEALS: Cornerstone Acquires $58.6M Mixed-Use Community
Cornerstone acquires a 163-unit mixed-use development in California; NorthMarq secures a $48M refi loan; and Boston Capital invests in the rehabilitation of an affordable housing community in Texas.
TODAY’S DEALS: Waterton Acquires 224-Unit Community in Florida
Waterton Residential acquires a 224-unit community in Florida; HFF closes the sale of and arranges financing for two assets outside Houston; and Phillips Development & Realty sells its interest in a 339-unit asset in Dallas.