National
TODAY’S DEALS: CBRE Sells Luxury Community in Cincinnati
CB Richard Ellis sells a 231-unit high-rise apartment in Cincinnati; Arbor completes a $40.7 million loan that refinances a 654-unit affordable housing community in Newark, N.J.; and Walker & Dunlop closes $8.6M refinance in Las Vegas.
TODAY’S DEALS: HFF Secures $167M for 1,523-Unit Community in Denver
HFF arranges $167 million in financing for a 1,523-unit community in Denver; JLL closes the sale of a 512-unit community north of Seattle; and Boston Capital completes a $244 million tax credit fund.
TODAY’S DEALS: RREEF Acquires Three Communities for $151M
RREEF acquires three properties totaling 561 units for $151 million; ST Residential closes on a condo development in Miami Beach; and Red Capital Partners provides a $4.1 million balance sheet bridge loan for acquisition of bank-owned property.
TODAY’S DEALS: HFF Closes $31M Refinance for Brooklyn Community
HFF arranges a $31 million refinance for a Brooklyn community; Marcus & Millichap brokers the sale of a 330-unit Inland Empire community; and Walker & Dunlop closes a $9.2 million acquisition loan.
TODAY’S DEALS: UDR Acquires D.C. Apartments for $600 per square foot
UDR Acquires a 185-unit luxury community in D.C.; Newcastle grabs a 162-unit building in Chicago; and HFF closes sale of Tampa, Fla. asset to Camden.
Apartment Market Pushing toward 6 Percent Annual Rent Growth
Dallas–Axiometrics Inc. released a research report today that shows the national apartment market continuing to heat up in May, with effective rents increasing 0.7 percent from April levels.
TODAY’S DEALS: Howard Hughes Corp. Acquires $117.5M Interest in Woodlands Community
Howard Hughes Corp. acquires $117.5 million interest in Woodlands master-planned community; Phillips Development and Realty closes a $3.7 million refinance on a 129-unit community; and M West Holdings acquires a 43-unit apartment property in California.
California Congressman Calls for Replacement, Not Elimination, of GSEs
Washington, D.C.–Rep. Gary Miller (R-CA) plans to introduce a bill that would replace the GSEs with a new, consolidated entity whose function would be very much like Fannie and Freddie.
TODAY’S DEALS: Walker & Dunlop Closes $177M Fannie Mae DUS Loan
Walker & Dunlop provides a $177M loan secured by a community in Hawaii; Tryko Partners LLC acquires a 495-unit community in Baltimore; and a joint venture between The Praedium Group and McDowell Properties acquires a 256-unit community in California for $45 million.
Durban Amendment’s Impact on Resident Debit Payments
A rule that would make it cheaper for residents to use debit cards to pay rent is now under threat.