National
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.
Economy Watch: Mixed Reports on Jobs
ADP releases jobs numbers; the Home Affordable Modification Program doesn’t have a lot of fans; and the Beige Book reports that economic activity continues to expand at a modest rate.
TODAY’S DEALS: IPA Closes $32.75M Student Housing Acquisition in Virginia
IPA brokers sale of 228-unit student housing complex; Cohen Financial arranges bridge loan for fractured condos; and Granbridge closes a $75.8 million first mortgage loan.
TODAY’S DEALS: Insight Purchases 200 Apartments in Fredericksburg for $18.3M
Insight has purchased a 200-unit apartment community in Fredericksburg, Va.; HFF has arranged $39.3 million financing for N.J. portfolio; and Berkadia Commercial Mortgage originates adjustable-rate Freddie Mac loan for institutinoal borrower.
TODAY’S DEALS: Construction Begins on Inland’s Orlando Student Housing Project
Construction begins on Inland’s Fla. student housing; Marcus & Millichap’s Mark Myers brokers $87 million in seniors housing investment sales; and Cushman & Wakefield sells a Florida condo community for $5.2 million.
Housing Affordability Still a Problem, Despite Price Drops
Housing has gotten increasingly difficult to afford in recent years, according to a report by the Center for Housing Policy, and cutting federal support would only exacerbate the problem.
TODAY’S DEALS: Marcus & Millichap Sells $30M High-Rise in Tempe
Marcus & Millichap sells Arizona high-rise for $30 million; Jones Lang LaSalle will market 103-unit 737 Park Avenue in Manhattan; and HFF arranges $38 million to refinance construction loans.
Accounting Changes Likely Mean Headaches for Landlords
New York–Accounting standards might be arcane, but a major change in standards that could come as soon as this summer might make commercial property owners take notice. That includes multifamily owners, especially those with non-residential (namely retail) components to their properties.
TODAY’S DEALS: Colliers Completes $2.5M Huntington Beach Sale
Colliers closes a $2.5 million condo sale in California; Kislak participates in apartment sales in Hudson Valley, N.Y.; and Walker & Dunlop provides a $4.55 million refinance loan for San Antonio apartments.