Regions
Pension Fund Manager to Help Create 635 Union Jobs Via $50M Investment
Minneapolis–The AFL-CIO Housing Investment Trust continues to aid the creation of construction jobs and support affordable housing with a recent $50 million investment in a Minneapolis multifamily rehabilitation project.
TODAY’S DEALS: Construction Begins on Inland’s Orlando Student Housing Project
Construction begins on Inland’s Fla. student housing; Marcus & Millichap’s Mark Myers brokers $87 million in seniors housing investment sales; and Cushman & Wakefield sells a Florida condo community for $5.2 million.
Housing Affordability Still a Problem, Despite Price Drops
Housing has gotten increasingly difficult to afford in recent years, according to a report by the Center for Housing Policy, and cutting federal support would only exacerbate the problem.
TODAY’S DEALS: Marcus & Millichap Sells $30M High-Rise in Tempe
Marcus & Millichap sells Arizona high-rise for $30 million; Jones Lang LaSalle will market 103-unit 737 Park Avenue in Manhattan; and HFF arranges $38 million to refinance construction loans.
Cityline Partners Plans 40-Acre Tysons Corner Transformation
McLean, Va.– Cityline Partners of McLean, Va. has unveiled a plan for the long-term transformation of about 40 acres of land in Tysons Corner, Va. into an integrated mix of residential, office, hotel, retail and civic uses surrounding an improved Scotts Run Stream Valley Park.
Accounting Changes Likely Mean Headaches for Landlords
New York–Accounting standards might be arcane, but a major change in standards that could come as soon as this summer might make commercial property owners take notice. That includes multifamily owners, especially those with non-residential (namely retail) components to their properties.
TODAY’S DEALS: Fantini & Gorga Arranges $53.6M Financing for Maryland Apartments
Fantini & Gorga has arranged $53.6M in refinancing for MetroPlace apartments; KeyBank arranges $61.8M in Freddie Mac financing; AREA Porperty Partners acquires 400-unit apartment community; and
SPECIAL REPORT: Student Housing, a Different Kind of Property
Las Vegas–The National Apartment Association (NAA) Student Housing Exposition and Exposition in Las Vegas opened with panelists talking about very promising projections, with the number of college students expected to grow from 18.2 million today to about 24 million by 2016 and enrollments expanding all the way through 2025.
The Siegel Group Snaps Up 18 Multifamily Properties for Renovation in Las Vegas
Las Vegas–The Siegel Group Nevada Inc. continues to capitalize on the opportunities presented by foreclosures with the recent acquisition of 18 Class B and C apartment properties in Las Vegas from a private seller. At $1.8 million, the purchase price for the 78-unit portfolio was deeply discounted and well below replacement cost.
TODAY’S DEALS: Colliers Completes $2.5M Huntington Beach Sale
Colliers closes a $2.5 million condo sale in California; Kislak participates in apartment sales in Hudson Valley, N.Y.; and Walker & Dunlop provides a $4.55 million refinance loan for San Antonio apartments.