Regions
Completion of Two More Phases in Nemchinovka Development
The Nemchinovka development, a $600 million luxury residential and commercial development in suburban Moscow, has moved closer to completion.
TODAY’S DEALS: Vesper Holdings Acquires 506-Bed Michigan Student Housing
Vesper Holdings acquires a 506-bed student-housing community close to the University of Michigan; Phoenix-Orbach JV acquires a $46.5 million portfolio; and Kennedy Wilson closes a $63.8 million refinancing for its Japanese subsidiary.
D.C. Seniors Housing Property Begins Rehab
Washington, D.C.–Jair Lynch Development Partners has closed on financing for the redevelopment of the Paul Laurence Dunbar Apartments, a 171-unit seniors-housing rental property.
TODAY’S DEALS: Praedium Group, CAPREIT Acquire Minnesota Community
Praedium-CAPREIT joint venture acquires a Minnesota community for $19 million; Marcus & Millichap Capital Corporation arranges $5.3 million in financing for a Seattle property; and George Smith Partners completes financings for distressed, acquisition and refi transactions.
NAHB Report Says Multifamily Stock Returns May Start to Cool
Washington, D.C.–A new report by the National Association of Home Builders suggests that the high-flying days for multifamily stocks might be drawing to a close.
TODAY’S DEALS: CB Richard Ellis Brokers $40.5M Multi-Housing Sale to Home Properties
CB Richard Ellis completes the sale of The Commons at Haynes Farm in Shrewsbury, Mass., and NorthMarq arranges a $33.5 million mortgage on behalf of Prometheus Real Estate Group.
Salaries for Most New Jobs Insufficient to Pay Rent
Washington, D.C.–A report by the Center for Housing Policy shows that, although some employers are hiring, those who land jobs will struggle to pay for housing with their new salary.
TODAY’S DEALS: Red Capital Finances $70M New Construction Loan
Red Capital Finances $70 million in a new construction loan for an infill project; Helios Capital Advisors completes two note sales; and The Community Preservation Corporation provides a $1.2 million construction loan for the rehabilitation of two Harlem apartments.
Massive Trump Hotel Tower Opens in Panama
The 70-story Trump Ocean Club International Hotel & Tower Panama, occupying a total of 2.7 million square feet, is poised to become one of Latin America’s newest landmark properties.
Riskier Treasuries Might Send Investors to Top-Quality Multifamily Properties
MHN talks with Christian L. Redfearn, associate professor at the USC School of Policy, Planning and Development and member of the Lusk Center for Real Estate, about what the debt crisis might mean for multifamily.