National
AvalonBay’s Blair Retires as CEO
New York–AvalonBay Communities Chairman and CEO Bryce Blair affirmed at ReitWeek that he will step down as CEO after 26 years with the company.
TODAY’S DEALS: Berkadia Originates $13M for Illinois Student Housing Property
Berkadia originates $13 million for the acquisition of a student housing property; a JV between Wheelock and Iconic Development acquires a student housing complex in Virginia; and GFI Realty Services sells a Brooklyn apartment building for $7,700,000.
TODAY’S DEALS: NorthMarq Capital Arranges $180M Freddie Mac Mortgage
NorthMarq Capital supplies first mortgage financing of $180 million; C&W arranges the sale of a 48-unit community for $10 million; and Trade Street acquires a 172-unit property in Chattanooga.
TODAY’S DEALS: NorthMarq Capital Arranges $180M Freddie Mac Mortgage
NorthMarq Capital supplies first mortgage financing of $180 million; C&W arranges the sale of a 48-unit community for $10 million; and Trade Street acquires a 172-unit property in Chattanooga.
TODAY’S DEALS: BRE Properties Acquires 282-Unit Community in Oakland
BRE Properties acquires a 282-unit property in Oakland, Calif.; MAA buys a 300-unit community in Richmond, Va.; and HFF secures acquisition financing under Freddie Mac’s Program Plus.
TODAY’S DEALS: Kennedy Wilson Completes 2011’s Largest MF Transaction
Kennedy Wilson completes the largest multifamily asset transaction for 2011; BH Properties purchases a 420-unit community in Phoenix; and Hendricks & Partners brokers a $1.35 million sale of an apartment community in California.
TODAY’S DEALS: The Donaldson Group Acquires 492-Unit Asset
The Donaldson Group and Angelo, Gordon & Company acquire a 492-unit property in Suitland, Md.; Essex Realty Group sells a portfolio consisting of six Chicago properties; and Deutsche Bank Berkshire Mortgage provides $31.3M in interest-only, Fannie Mae financing.
U.S. Will Not See 3% GDP Growth Until 2014
U.S. GDP growth is not expected to hit 3 percent until 2014. That analysis comes from the international real estate group Grosvenor.
TODAY’S DEALS: Trillium Residential Sells 724-Unit Property for $76M
Trillium Residential sells a 724-unit community for $76 million; Lynd purchases an $80 million portfolio of distressed student housing; and Hendricks & Partners oversees a $16,000 per-unit sale.
U.S. Economy Gains Momentum: Grosvenor Research
In its second-quarter North American Research Report, Grosvenor reports that the U.S. economy is gaining momentum.