National
CMBS Delinquency Rate to Stay in High-Single to Double Digits
The CMBS conduit/fusion delinquency rate is now 9.22 percent, an increase of six basis points, according to Moody’s Investors Service. “We expect the delinquency rate to run high-single to low-double digits over the near term,” states Tad Philipp, director – CRE Research, of Moodys Investors Service.
TODAY’S DEALS: ARA Completes Distressed Portfolio Sale
ARA completes a 10-property distressed portfolio sale; Marcus & Millichap sells a vintage San Francisco apartment for $4.75M; and George Smith Partners arranges $17M in financing.
TODAY’S DEALS: Behringer Harvard Buys 200-Unit Community near Boston
Behringer Harvard acquires a 200-unit luxury community in a Boston suburb; Transwestern brokers a $72 million, 1,107-unit portfolio sale in Maryland; and Trade Street Capital buys a 263-unit property in Chattanooga, Tenn.
TODAY’S DEALS: IPA Brokers $38M Sale near San Francisco
IPA arranges the sale of a 250-unit community in Union City, Calif. for $38 million; PCCP partners with Signature Development Group to acquire a 130-unit luxury project in Dublin, Calif.; and HFF arranges financing for manufactured home communities.
FS Energy to Make Energy-Efficiency Loans to Multifamily Properties
New York–FS Energy L.L.C. has partnered with two unnamed financial institutions to arrange for loans to residential buildings to make energy-oriented capital investments.
TODAY’S DEALS: HFF Arranges $14M Financing for Colorado Complex
HFF arranges a $14M financing package for a Colorado property; Behringer Harvard sells a 390-unit asset near San Francisco to an institutional investor; and NCB, FSB arranges financing for local cooperatives.
TODAY’S DEALS: Beech Street Provides $32M Refinance to 648-Unit Property
Beech Street Capital provides a $32 million refinance for a 648-unit property in Delaware; Walker & Dunlop provides a $5.6 million refinance loan for a Vermont property; and Colliers negotiates the sale of two properties in Phoenix.
Cushman & Wakefield and Walker & Dunlop Enter MF Strategic Alliance
New York and Bethesda, Md.–Cushman & Wakefield and Walker & Dunlop have formed a strategic alliance to focus on multifamily agency financing and investment sales.
TODAY’S DEALS: IPA Arranges $76.5M Sacramento Area Sale
IPA completes the $76.5 million sale of a 612-unit property in Roseville, Calif.; NorthMarq Capital arranges two multifamily mortgages totaling $24.5 million; and Hendricks & Partners represents the seller in a 4.8 percent cap sale.
TODAY’S DEALS: BCN Acquires Prime Manhattan Space for Condo Development
BCN Development signs prime Manhattan space for a new condo; Emeritus enters a purchase agreement with Blackstone for 24 assisted-living communities; and Beech Street Capital originates $12.65 million Fannie Mae loan for property in an improving area.