Regions
MARKET SNAPSHOT: Operators Take Advantage of Improving Economic Conditions in Las Vegas
After lagging behind most major markets for some time, Las Vegas’ apartment sector is seeing an acceleration of activity.
Economy Watch: GDP Edges Down in 4Q
Real U.S. gross domestic product declined at an annualized rate 0.1 percent during the fourth quarter of 2012, according to the Bureau of Economic Analysis’ preliminary estimate.
Freddie Mac Announces Second Multifamily Securities Offering of the Year, K-025
Freddie Mac announced a new offering of Structured Pass-Through Certificates (“K Certificates”), which are multifamily mortgage-backed securities.
Corvias Group Announces New EVP of Property Management and SVP of Construction Operations
Corvias Group, a privately-owned, vertically-integrated real estate solutions group, announced that Charles E. Parker (Chuck) has been hired as executive vice president of property management and Edward Milch has been hired as senior vice president of construction operations.
Baltimore Apartments Win Permanent Financing
Two apartment properties in Baltimore have obtained $77.9 million in permanent financing. The loans of $63.3 million and $14.6 million were structured with 15-year, fully amortizing terms at rates of about 3.25 percent. CBRE’s Washington DC office arranged the loans, which are through the Fannie Mae DUS program.
TODAY’S DEALS: Walker & Dunlop Provides TF Cornerstone with $120M
Walker & Dunlop lands $120 million for an apartment tower in Queens, N.Y.; a new mixed-use asset is coming to Charles City, Iowa; and NorthMarq arranges a $19.9 million mortgage with two years interest-only.
MHN Interview: How $1B Will Affect Affordable Housing in New York State
New York Governor Andrew Cuomo recently committed $1 billion to the House New York program. MHN speaks to Donald Capoccia, president, New York State Association for Affordable Housing, about what this government investment will mean for the future of affordable housing in New York.
Southeast Multifamily Sector Tallies Most Transactions Since ‘05
High rental demand and a positive lending environment have helped catapult the multifamily sector in the Southeast United States to its highest transaction levels since 2005.
Economy Watch: Home Prices Up Compared With Last Year
The S&P/Case-Shiller Home Prices Indices, which were released on Tuesday, showed that residential prices were up 4.5 percent in the nation’s 10 largest metro areas, and 5.5 percent in the 20 largest metros, for the 12 months ending in November 2012.
Twin Apartment Buildings Open in Santa Monica
Two multifamily rental properties adjacent to each other in Santa Monica that have been in the works for some time have finally been completed. The properties, called NMS@1420 and NMS@1430, will each house 50 one- and two-bedroom apartments.