National
Economy Watch: Foreclosures at Record Levels in 2010
2010 saw a record number of foreclosures; Neil Barofsky warns of the possibility of future bailouts; and many Americans are still desperate for work.
TODAY’S DEALS: Hendricks & Partners Sells 740-Bed Student Housing Community
Hendricks & Partners sells a student housing community near University of Kentucky; Marcus & Millichap brokers sale of Houston multifamily property; and ARA completes sale of Denver apartment.
TODAY’S DEALS: CBRE Completes $62.5M LA Sale
CB Richard Ellis completed the sale of a 204-unit L.A. apartment community; Cohen Financial arranged a $7.75 million loan; and J.I. Kislak Inc. purchased three distressed multifamily properties.
TODAY’S DEALS: Franklin Street Closes $850K Sale of REO Property in Tampa
Franklin Street Real Estate Services oversaw an REO sale; UIP and JCR aquired two apartment buildings; and Johnson Capital secured financing on two Chicago apartment buildings.
TODAY’S DEALS: NorthMarq Capital Arranges $31M, 7-Year Mortgage
NorthMarq Capital arranges a Freddie Mac mortgage; Red Mortgage Capital LLC closed on a refinancing; and Chozick Realty brokered the sale of student housing.
TODAY’S DEALS: HFF Closes $86.5M Sale to Avalon Bay, Arranges Financing
HFF arranged acquisition financing for an $86.5 million sale; Sterling closed on a student housing community; and Waterton bought both a construction note and mezzanine loan.
TODAY’S DEALS: Hendricks & Partners Brokers $11.64M Sale of Apartment Community
Hendricks & Partners sells Sierra Ridge; AREA recapitalizes College Park; and Grandbridge closes a $13.6M multifamily deal.
Economy Watch: Unemployment Claims Drop as Year Comes to Close
U.S. workers filing applications for unemployment dropped the week ending Christmas Day; 2010 saw 157 banks fail; and the NAR Pending Home Sales Index rose.
Healthcare Reform Bill Already Changing Seniors Housing Development Dynamics
Passage of healthcare reform has already altered dynamics in commercial real estate’s senior housing sector.
Multifamily Industry to Benefit from Tax Deal
According to NMHC and NAA, there were a number of wins for the multifamily industry in the tax bill passed by Congress and signed by President Obama earlier this month.