National
TODAY’S DEALS: HFF Lists Class A Community in St. Louis
HFF is picked to market a luxury community in St. Louis; Champion Real Estate Services purchases a $4.2 million community in central Ohio; and Jones Lang LaSalle brokers apartment sale by AMLI and Northwestern Mutual.
The Praedium Group Buys Half a Billion in Assets in First Half of 2011
New York–The Praedium Group has been in a bit of a buying frenzy. Acting through The Praedium Fund VII L.P., the New York City-based national real estate investment firm snapped up assets, predominantly multifamily, valued at an aggregate $500 million in the first six months of 2011.
TODAY’S DEALS: Praedium Group Invests $18.5M into N.J. Community
The Praedium Group purchases an $18.5 million equity position in a N.J. community; Beech Street Capital provides a $34 million refinance for two Texas communities; and Arbor’s Michigan office closes 11 Fannie Mae deals.
Amid Economic Gloom, Investors Keen for Multi-Housing Properties
U.S. multifamily investment sales have spiked thus far during 2011, reaching $13.9 billion during the second quarter of 2011, or more than half again as much as the first quarter 2011 total of $9 billion.
TODAY’S DEALS: Beech Street Provides $12.6M in Acquisition Financing
Beech Street provides $12.6 million in loans for the acquisition of four communities; Walker & Dunlop closes a $14 million refinance loan on a student housing community; and Lee & Associates transacts $4.7 million sale to private investment group.
TODAY’S DEALS: Walker & Dunlop Closes $26M Refinance for Nevada Community
Walker & Dunlop closes the $26 million refinance of a 306-unit community in Las Vegas; Marcus & Millichap closes the sale of a 245-unit community in Florida; and BMC Capital arranges a $2.6 million interest-only acquisition loan.
TODAY’S DEALS: HFF Closes $40M Sale in Chicago
HFF closes a $40 million affordable housing sale in Chicago; Red Stone Partners finalizes financing for a 760-unit community in Georgia; and Boston Capital invests in two affordable developments by USA Properties Fund.
Housing Affordability Remains Near Record High
Washington, D.C.–Housing affordability hovered near its high during the second quarter of 2011, according to National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) data released today.
TODAY’S DEALS: CBRE Lists Two Luxury Communities Totaling 1,198 Units in Chicago
CBRE lists two luxury Class A assets totaling 1,198 units in Chicago; NorthMarq arranges a $15.1 million mortgage for a community in Lacey, Wash.; and Mortgage Equicap arranges $5 million bridge loan at less than 1.0 DSC.
NAHB Finds Seniors Housing Developers More Keen on Apartments than Condos
Washington, D.C.–The National Association of Home Builders (NAHB) has released its 55+ Housing Market Indices for the second quarter, and the verdict is in: builders of seniors housing feel far more warm and fuzzy about development and demand in the multifamily rental market than sales in the multifamily condominium market.