Regions
Recovering Economy Will Improve Already Robust Multifamily
The economic recovery might be slower than everyone wants, but it will help what is already a thriving multifamily market.
TODAY’S DEALS: Colliers Completes Sale of 82-Unit Calif. Multifamily Property
Colliers completes the sale of an 82-unit California multifamily complex for $11.6 million; AREA Property Partners acquires two Tampa properties for $78 million; and Johnson Capital secures financing with lower rates and longer amortization periods.
Economy Watch: Financial Crisis Panel Offers Split Conclusion
Financial Crisis Inquiry Commission releases its report, shedding little light on what caused the economic meltdown of 2008. Pending home sales and economic activity indicate that we’re on our way back from dark times.
BCN Plans Condos for Brooklyn Law School Property
New York–BCN Development has inked a deal with Brooklyn Law School to acquire the school’s former residence hall and convert the Beaux-Arts style building into 24 two-bedroom condominiums.
TODAY’S DEALS: Huntington Bank on Track to Meet $100M Affordable Housing Goal
Huntington Banks surpasses halfway point in $100 million commitment to Ohio affordable housing; Largo Group arranges a $27 million first mortgage for N.Y. apartments; and NorthMarq closes $16.75 million first mortgage financing on Calif. apartments.
Economy Watch: New Home Sales Edge Up Unexpectedly
Home sales increased in December; the Fed isn’t worried about inflation yet; and–news flash–the federal deficit is out of control.
Even Better Times Ahead for Apartment Market: Marcus & Millichap
Whether apartment owners decide to hold on to their properties or or take them to market, this is going to be a good year for them.
TODAY’S DEALS: CWCapital Provides $90M in Construction Financing
CWCapital provides $90 million in construction financing to a Maryland multifamily complex; Venture West Funding arranges $7.8 million for four California apartments; and Walker & Dunlop arranges 5 percent early-rate Lock loan.
Enterprise Provides $1.5M to Help Meet Affordable Housing Need
Los Angeles–Enterprise Community Partners Inc. has culled $1.5 million to aid sustainable low-income housing projects in an area where supply of affordable housing has been out of pace with demand.
Q&A with Behringer Harvard’s Jason Mattox
Behringer Harvard invested nearly $900 million in commercial real estate assets in 2010–nearly double its 2009 number. Chief Administrative Officer Jason Mattox talks about the company’s strategy.