National
HUD Awards LISC $19M to Bolster Nonprofits
New York–The U.S. Department of Housing and Urban Development has awarded the Local Initiatives Support Corporation (LISC) a $19.3 million Section 4 capacity-building grant to help community-based nonprofits lead affordable housing and economic development efforts in low-income communities.
TODAY’S DEALS: ARA Executes Sale of 267-Unit Community in Charlotte, N.C. for $40.5M
ARA closes the sale of Elizabeth Square in N.C.; Salmanson acquires Nebraska student housing; and Berkadia Commercial Mortgage originates a $13.35 million loan through conduit.
TODAY’S DEALS: NorthMarq Capital Arranges $21.8M Mortgage through Life Insurance Company
NorthMarq arranges $21.8 million in mortgage financing; HFF secures a $17.2 million refinance loan; and Marcus & Millichap arranges the sale of a 144-unit asset in Cleveland.
TODAY’S DEALS: Granbridge Closes $31.9M Mortgage Secured by 352-Unit Property
Granbridge closes $31.9 million first mortgage; CBRE sells a 304-unit student-housing community; and HFF closes sale of suburban apartment property.
The Federal Debate over Spending Cuts
Preserving the Low-Income Housing Tax Credit is just one of several high-priority issues to watch.
TODAY’S DEALS: HFF Closes Sale of West Houston Community
HFF closes sale on Houston community; Boston Capital invests in Virginia affordable multifamily; and Jones Lang LaSalle markets an apartment property in Washington state.
Change in Renter Habits Emerging with Change in Economy
Chicago–As the economy inches toward some semblance of health, new trends are emerging among the renter population, including a lot of renters planning to move.
TODAY’S DEALS: Foursquare Foundation Breaks Ground on $10M Senior Living Community
The Foursquare Foundation breaks ground on a $10 million senior living community; IPA brokers the sale of a 343-unit multifamily property; and Hendricks & Partners brokers an apartment sale.
Multi-Year Opportunities for Multifamily Investing
Meeting the demands and desires of millions of new apartment dwellers will continue to provide investors with solid returns, now and well into the future.
TODAY’S DEALS: UDR to Enter Manhattan Market with $260.8M Acquisition
UDR enters a definitely agreement to purchase 10 Hanover Square; Walker & Dunlop closes a $9.6 million refinance loan; and Boston Capital invests in 96-unit affordable development in partnership with a nonprofit.