Regions
TODAY’S DEALS: Security Properties Acquires Two Seattle-Area Communities
Security Properties buys two communities; Beech Street Capital closes a $25 million Fannie Mae DUS loan; and KeyBank provides a bridge loan to meet a borrower’s aggressive time line, followed by a $67 million Fannie Mae mortgage to take out the loan.
MARKET SNAPSHOT: Strong Employment Boosts Demand in Denver, Sending Construction to Nine-Year High
The Denver metro area continues to outpace the rest of the nation in job growth, with employment rising 2.3 percent in the first half of 2012 alone.
IKEA’s Real Estate Arm to Build a New 26-Acre Neighborhood in Stratford, East London
London-IKEA’s real estate arm, LandProp Holding, will build a new 2,000,000-square-foot neighborhood just south of the Olympic Park in Stratford, east London.
TODAY’S DEALS: Archstone Begins First Asset in Berkeley
Archstone breaks ground in Berkeley, Calif.; Canyon Capital provides $27.4 million for a mixed-use project in Tampa; and Meridian Capital arranges a $15.9 million CMBS refinancing of a mixed-use portfolio.
‘Strategic Advantages’ to Wood Partners’ New Development in Charlotte
Wood Partners, a national multifamily developer and manager, has just broken ground on Perimeter Lofts, a 246-unit community in the Northlake area of Charlotte, N.C.
Chicago Developer Breaks Ground on Local Apartment Properties
M&R Development has broken ground on two Chicago-area multifamily properties, one in the city, and the other in north suburban Evanston.
TODAY’S DEALS: HFF Secures Acquisition Financing for Washington Asset
Cumberland Holdings lands acquisition financing; a 160-bed skilled nursing facility trades for $8.2 million in Georgia; and NAI Hunneman’s investment sale group brokers a $1.7 million sale in Taunton, Mass.
MG Properties Buys Apartments in SoCal and NoCal
MG Properties Group, a private San Diego-based real estate investor and operator, has completed the acquisition of two multifamily properties, one in Temecula, in southern California, and the other in Daly City, in northern California.
MHN Interview: Mara Geltzeiler, SVP, Centerline Capital
Centerline Capital Group, a subsidiary of Centerline Holding Company, recently hired Mara Geltzeiler as senior vice president for its Mortgage Banking Group. Before joining Centerline, Geltzeiler worked for Freddie Mac in their Northeast Region.
Morgan Group Constructing 240-Unit Class-A Jacksonville Property
The Morgan Group, a Houston-based multifamily developer and property management firm, has begun construction on a 240-unit Class-A apartment community located in the Southside/JTB growth corridor in Jacksonville, Fla.