Regions
East St. Louis Housing Authority Closes New Markets Tax Credit Deal
East St. Louis, Ill.–The East St. Louis Housing Authority has closed a complex and novel NMTC transaction that will fund the mixed-use Jazz @ Walter Circle project.
TODAY’S DEALS: Lee & Associates Closes 240-Unit Transaction in Ontario, Calif.
Lee & Associates transacts $35 million apartment sale in Ontario, Calif.; Praedium Goup and Greystar joint venture to acquire a value-add opportunity for $21M; and CBRE provides $23.7 million refinancing for Tucson, Ariz. property.
TODAY’S DEALS: Security Properties Acquires 78-Unit Mixed-Use Apartment
Security Properties acquires a 78-unit apartment building for $15 million; Essex Property Trust issues $150 million of senior unsecured notes; and ARA brokers sale of Texas asset.
Chicago’s Flair Tower Secures LEED Silver Certification
Chicago–Flair Tower, a boutique transit-oriented development featuring 198 upscale residences, recently earned LEED Silver certification.
Economy Watch: 50,000 McJobs?
McDonalds plans to hire 50,000 workers on April 19; Geithner warns Congress about the consequences of hitting the debt ceiling; and Bernanke downplays inflation.
MBA Hires Kim as VP of Commercial Regulatory Policy
Washington, D.C.–Mortgage Bankers Association has appointed Thomas Kim as vice president of commercial regulatory policy.
Extell’s Riverside Center on Track for Late 2010s Completion
New York–The 3 million square-foot mixed-use Riverside Center is on track, and will include 2,500 apartment units and a 250-room hotel.
TODAY’S DEALS: HFF Closes $42.8M Atlanta Sale
Holliday Fenoglio Fowler closes a 301-unit apartment sale in Atlanta; Marcus & Millichap sells an 84-unit assisted living facility in Louisiana; and Hendricks & Partners Brokers sale of townhomes at 5.13% cap.
Bay Area Transportation Commission Creates Affordable Housing Fund
Oakland, Calif.–The Oakland-based Metropolitan Transportation Commission has established a new $50 million revolving loan fund for affordable housing developers.
TODAY’S DEALS: Western National Acquires Allure Apartments for $38.1M
Western National Realty Advisors acquires community for $38.1 million; NAI Tampa Bay represents buyer on lened-owned purchase; and CB Richard Ellis negotiates $970K sale of apartments.