Regions
Reston Station Apartments May Begin Next Year
Reston, Va.–Ground breaking for the first component of the Reston Station Metro Facility–which will form the foundation for Reston’s first TOD, a 1.3 million square-foot, mixed-use development–has been set for this spring.
TODAY’S DEALS: CBRE Arranges $45M for Mich. Student Housing
CBRE capital markets has arranged $45 million in financing for the construction of a 606-bed student housing project next to the University of Michigan; Grandbridge supplies $19.85M for Florida apartment; and Alliant Capital LLC closes a $3.4 million loan to refinance Chicago’s Powhatan Apartments.
Bovis Lend Lease Tapped to Build Mixed-Use TOD in Maryland
Odenton, Md.–The Village at Odenton Station, a 400,000 square-foot mixed-use residential project near Baltimore and D.C., moves closer towards realization.
TODAY’S DEALS: Cortland Partners Acquires Metro Atlanta Apartments
Cortland Partners has acquired a 308-unit property in metro Altanta; Beech Street closes $80.2M in Freddie Mac loans for two New York high rises; and Abacus Capital Group sells $68 million multifamily complex in California
Economy Watch: Battle of the Budgets Begins
The Obama administration released its version of the fiscal 2012 federal budget to compete with the House Republicans’ version, but neither side is willing to make cuts to non-discretionary spending.
Q&A with Portland State University’s Dr. Gerard Mildner
Portland State University is introducing a new master’s program in real estate development this fall, making it one of only two universities in the Northwest to offer the degree.
TODAY’S DEALS: Mill Creek Residential Trust and Rockwood Capital Form Multifamily JV
Mill Creek Residential Trust LLC and Rockwood Capital have formed a new multifamily joint venture; NorthMarq arranged first mortgage financing of $23.99 million for Annapolis, Md. apartments; and Red Capital Markets structures bond financing for affordable housing.
Renaissance Square Wins Sustainable Building Award from Maryland USGBC
Renaissance Square, a for-sale affordable housing community under development in Essex, Md., has earned a valuable distinction in Maryland’s sustainable housing development arena.
TODAY’S DEALS: SWA Group to Redesign 1700-Home Sunnydale Public Housing Community
SWA Group begins designs for transformation of 1700-unit Sunnydale public affordable housing; NorthMarq’s $19M refinance allows return of capital; and Akridge gets approval for Virginia mixed-use redevelopment.
New Partnership Focuses on Fractured Condo Niche
Washington, D.C.–Fairfield Residential and McWilliams-Ballard have joined forces, forming the Property Portfolio, to take on the business of fractured condominiums.