Regions
Berkeley Point Executes $325M in Refinancing for The Gateway in San Francisco
Berkeley Point Capital, along with Freddie Mac, recently closed on the largest single-asset loan in its company history. The 10-year, $325 million refinance loan for The Gateway, a 7.74 acre San Francisco property, was locked-in at a fixed rate of 3.38 percent and is a full-term, interest-only loan.
TODAY’S DEALS: The Abbey Group Lands $123.6M for Boston Apartment Development
HFF arranges a $123.6 million construction loan; UC Funding provides a $16.8 million loan for a San Antonio acquisition; and Principal Real Estate Investors completes a $15 million disposition in Arizona.
Transwestern to Establish Major Presence in Boston with Acquisition of Richards Barry Joyce & Partners
Transwestern’s Houston headquarters announced it is acquiring Richards Barry Joyce & Partners LLC (RBJ), a full-service real estate firm based in Boston. Establishing its 34th U.S. office, Transwestern achieves a significant presence in the Boston market.
Cantor-Pecorella to Sell Historic NYC Building-Turned-Condos
Rutherford Place at Stuyvesant Square, which is listed on the National Register of Historic Places, is being transformed into 78 one-of-a-kind, new condominium homes that are being sold by Cantor-Pecorella, the building’s exclusive sales and marketing firm.
Economy Watch: Consumer Credit Sees Uptick
The Federal Reserve reported that U.S. consumer credit was up again, increasing at an annualized rate of 4.5 percent in July.
Arker Cos. Acquires Affordable Apartments on Staten Island for $27M
Two affordable housing properties in the New York borough of Staten Island have traded hands for a combined total of $27 million.
TODAY’S DEALS: Alex. Brown, Chartwell Acquire 383-Unit Apartment in Charlotte
ARA brokers a $23.8 million sale in Charlotte; CBRE/New England’s Capital Markets team completes a $22.3 million sale in Plymouth, Mass.; and NorthMarq’s Kansas City Office arranges $29 million in financing for two properties.
Record High 291 Housing Markets Listed as Improving in September, According to NAHB
A total of 291 metropolitan areas across the country now qualify as improving housing markets, according to the National Association of Home Builders/First American Improving Markets Index (IMI) for September.
More Than 80 Percent of The Leonard Under Contract
The Leonard luxury condominium is more than 80 percent under contract, less than two months after sales were launched at the Northeast Tribeca property.
Economy Watch: The Economy Creates 169k Jobs in August
The Bureau of Labor Statistics reported on Friday that the U.S. economy created 169,000 jobs in August, lower than the average increase for the last 12 months, which is 184,000.