National
TODAY’S DEALS: 300-Unit Community Commands $14.2M
Marcus & Millichap brokers the sale of a 300-unit community in Florida; HFF secures $220M for eight Olen properties located in Nevada and Florida; and NorthMarq arranges an $8.5 million loan with a two-year prepayment window.
TODAY’S DEALS: Federal Capital Partners Lands $81.5M Refi for D.C. Community
Federal Capital Partners secures an $80.5M refinancing for a Washington, D.C., community; Kennedy Wilson, LeFrak JV closes $46.4M in refinancing for two multifamily properties; and NorthMarq Capital arranges a construction loan and tax credit bridge facility.
TODAY’S DEALS: CBRE Secures $99M JV Equity and Construction Loan
CBRE secures a $99 million construction loan for Magellan’s 499-unit high-rise in Chicago; MAA acquires a 297-unit community in Jacksonville, Fla.; and Arroyo & Company negotiates the sale of a 76-unit community in Santa Rosa, Calif.
NAHB Records Continuing Improvement in Multifamily
NAHB’s Multifamily Production Index (MPI) recorded its third consecutive quarterly increase for the multifamily housing market.
TODAY’S DEALS: Real Capital Solutions, Family Development Purchase Gated Adult Community
Real Capital Solutions and Family Development acquire a gated adult community in Palm Desert, Calif.; Silver Capital and McCann Partners acquire a 166-unit property in Zionsville, Ind.; and Marcus & Millichap sells a 22-unit asset for $2.3 million.
TODAY’S DEALS: Archstone Acquires 187-Unit Condo-Conversion for $80M
Archstone acquires a 187-unit condominium development; BPG Properties sells a 292-unit community in San Antonio; and Hendricks completes the sale of a 36-unit asset in Ohio.
Novogradac Study Calls LIHTC Program a Success
San Francisco–According to a study on LIHTCs, the program has been quite successful by all applicable performance measures.
TODAY’S DEALS: Phoenix, Paredim Acquire Connecticut Community for $27.7M
Phoenix Realty Group and Paredim Partners acquire a 192-unit community in Connecticut; Harbour Realty buys a 368-unit community in Tamarac, Fla.; and GFI Realty sells mixed-use buildings in a prime Brooklyn location for $10 million.
NMHC: U.S. Housing Policy Must Be Rebalanced
Attendees at an NMHC mid-year meeting agree that the government needs to adopt a new housing policy that is more supportive of the expanding population of renters.
TODAY’S DEALS: HomeStreet Arranges $35M for Seattle Mixed-Use Project
HomeStreet Capital arranges $35 million for a mixed-used building in Seattle; Beech Street Capital provides a $10.4 million loan for a 274-unit community in Baltimore; and Eastern Consolidated oversees a $17 million sale of bank-owned properties.