National
Multifamily Construction, Vacancies Both Inch Upward
NAHB’s Mulitfamily Production Index finds that construction of multifamily low-rent units, market-rate-rent units and for-sale units all inched up in the first quarter, as did vacancies.
TODAY’S DEALS: Partnership Picks Up Mixed-Use TOD in Chicago
Canyon-Johnson Urban Funds and McCaffery Interest acquire a mixed-use TOD; Cassidy Turley sells a community in Phoenix for $5.3 million; and Phillips Development sells an apartment asset to its equity partner for more than $34 million.
NAHB: Homebuilder Confidence Declines
Washington, D.C.–Homebuilder confidence in June reached its lowest point since September 2010, according to the NAHB/Wells Fargo Housing Market Index.
National Student Housing Council Sees Surge in Freshman College Applications
Washington, D.C.–A report from the National Student Housing Council finds that, despite the recession, colleges are receiving more applications than they were a couple years ago.
TODAY’S DEALS: MAA Acquires 256-Unit Community in Savannah
MAA acquires a 256-unit community in Savannah, Ga.; Cushman & Wakefield sells a development site approved for 116 units in a Boston suburb; and NAI Hanson markets a New Jersey multifamily development site.
TODAY’S DEALS: D.C.-Area Community Sells for $93 Million
AION Partners and The Carlyle Group acquire a 570-unit community for $93 million; a private investment group buys a San Francisco portfolio for $44 million; and Hendricks & Partners participates in the sale of a 39-unit property.
Commercial/Multifamily Mortgage Delinquency Rates Mixed in Q1
Washington, D.C.–The Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report finds that delinquency rates among different commercial/multifamily mortgage investor groups were mixed in the first quarter of 2011.
TODAY’S DEALS: HFF Arranges $17.8 for Tallahassee Community
HFF arranges $17.8 million in financing for a 248-unit Class A community in Tallahassee; Black Castle Development submits letter of intent for 50-unit asset in Fresno; and NorthMarq arranges $15M five-year interest-only mortgage.
HUD Unveils Multifamily Refinance Program that Also Pays for Green Upgrades
Washington, D.C.–HUD has kicked off Green Refinance Plus, which will allow owners of affordable rental housing properties to refinance into new mortgages that include funding for energy upgrades.
TODAY’S DEALS: Atlas/Andover Partnership Purchases 336-Unit Asset in Florida
Atlas Real Estate Partners and Andover Real Estate Partners team up for 336-unit acquisition; Hudson Realty Capital funds $4.28M for two properties; and Waterton Residential acquires a 210-unit, 55-plus adult community in Georgia.