National
TODAY’S DEALS: Archstone Buys 224-Unit Asset in Marina del Ray
Archstone acquires a 224-unit community in Marina del Ray, Calif.; Marcus & Millichap sells two New England assisted living facilities; and Transwestern negotiates the sale of a $4.3 million portfolio in Phoenix.
Condo/Co-op Prices See Drop Since Last Year
Washington, D.C.–The National Association of Realtors (NAR) reported this week that the national median price for for-sale housing–condominiums and cooperatives of all stripes–was $169,200 during the second quarter of 2011. That median represents a 3.5 percent drop from the median price during the same quarter in 2010.
TODAY’S DEALS: JLL Closes $253M Sale of 103-Unit Historic Manhattan Apartment
JLL closes the sale of a 103-unit vintage Manhattan luxury building for $253 million; Red Mortgage Capital refinances three loans on Indiana seniors housing communities; and Northmarq arranges a $25 million Freddie Mac mortgage.
TODAY’S DEALS: UDR to Acquire 507-Unit Dwell95 for $325M
UDR Inc. plans to acquire a condo-quality community in Manhattan’s Financial District for $325 million; Marcus & Millichap lists a 2.86-acre development site in El Monte, Calif., for $7.5 million; and George Smith Partners completes a $9.5 million bank loan for a discounted payoff purchase.
NMHC Quarterly Survey Finds Apartments in Fine Fettle
Washington, D.C.–The latest Quarterly Survey of Apartment Market Conditions by the National Multi Housing Council (NMHC) confirms the general sense of strength in the apartment market.
TODAY’S DEALS: Wood Partners Grabs SoCal Land for $75M Community
Wood Partners acquires land for a $75 million luxury apartment community in California; ARA announces $38.15 million sale of property that was designed to condo specs; and SunCal purchases an idle master-planned development in Virginia.
Moody’s See Strong Fundamentals for U.S. Apartments, But Little Development Ahead
New York–According to a new report by Moody’s Investors Service, all major U.S. REIT property sectors have stable rating outlooks, with multifamily REITs, in particular, showing strong.
TODAY’S DEALS: PCCP, B&M Management to Acquire 736-Unit Community in Alabama
A PCCP-B&M Management Company JV will acquire a 736-unit Class B community in Huntsville, Ala.; Charles Dunn Company completes the sale of an 18-unit apartment building in Los Angeles; and Marcus & Millichap brokers a $13.5 million sale of a defaulted note and judgment.
TODAY’S DEALS: 300-Unit Phillips Development Gets HUD Financing
Phillips Development and Realty lands HUD financing for a Charlotte, N.C., community; Cassidy Turley BRE Commercial sells a 120-unit community in Ariz.; and Cambridge provides a $5.2 million FHA-insured refinance loan.
TODAY’S DEALS: Advenir Acquires a 220-Unit Property in Colorado Springs
Advenir kicks off its Colorado acquisition campaign with a 220-unit community; Marcus & Millichap brokers the $34.2 million sale of an asset in Washington; and Walker & Dunlop closes a $6.6 million Fannie Mae loan.