Regions
TODAY’S DEALS: NorthMarq Arranges $21.8M for California Affordable Housing
NorthMarq refinances two assets in Alameda, Calif.; Marcus & Millichap closes the sale of Imperial Crown apartments; and Berkadia originates $34 million for a multifamily property on Long Island, N.Y.
L+M Development Opens Final Phase of Candlestick Heights
Affordable housing developer L+M Development Partners recently announced the official opening of the long-stalled Candlestick Heights affordable housing community in San Francisco’s Bayview Neighborhood.
Centerline Capital Group Officially Renamed Hunt Mortgage Group
Centerline Capital Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, announced that it has been renamed Hunt Mortgage Group, completing the firm’s transition to Hunt Companies Inc.
Zillow Announces Acquisition of Trulia for $3.5 Billion in Stock
Zillow today announced that it has entered into a definitive agreement to acquire Trulia for $3.5 billion in a stock-for-stock transaction.
Pennrose Properties Opens Heritage at Alexander Hamilton in N.J.
A ribbon-cutting ceremony has officially unveiled Phase III of the long-awaited Heritage at Alexander Hamilton in Paterson, N.J. The new affordable housing lifestyle community was developed by Pennrose Properties, in partnership with the Housing Authority of the City of Paterson.
Economy Watch: Bank Failures Sluggish in ’14
Over the weekend, the FDIC closed its 14th failed bank of 2014, Greenchoice Bank in Chicago.
TODAY’S DEALS: Kislak Completes $136M Multifamily Property Sale–Largest in New Jersey Since ‘11
The Kislak Co. Inc. announced the $136 million sale of Rachel Gardens, a 764-unit apartment community on more than 98 acres in the Pine Brook section of Montville, N.J.; and NorthMarq Capital supplies a $10.6 million refinance for a Chicago redevelopment.
Michaels Organization Educational Foundation Awards $500K
The Michaels Organization Educational Foundation has announced its scholarship distributions for 2014. The foundation gives college scholarships each year to aspiring students who live in the properties owned or managed by the companies.
Carlson Rezidor Announces Five Portfolio Additions in Saudi Arabia
Carlson Rezidor Hotel Group is expanding its network in Saudi Arabia with the signing of five new projects.
Condo Prices Skyrocket in Downtown Miami
As the current wave of development nears the halfway point, downtown Miami condominium prices are soaring. Prices for existing (prior cycle) resale condo units in the city’s downtown district have ballooned 75 percent over the past 24 months.