Regions
TODAY’S DEALS: Wood Partners JV sells 116-Unit Asset for $50.5M
Intercontinental Real Estate Corp. buys an asset from Wood Partners; NorthMarq Capital arranges $30 million in construction financing for an affordable asset; and HFF closes $14.8 million in permanent financing for a newly-built Massachusetts asset.
Oak Coast Properties Developing West Hollywood Apartment Community
Oak Coast Properties is developing a new 53-unit upscale apartment community in the high barrier market of West Hollywood.
Economy Watch: Federal Government Records Surplus in December
The U.S. Department of Treasury reports the first December surplus ($53.2 billion) since 2007, while the ICSC presents a 3.4 percent gain in chain-store comparable sales for December year-over-year.
MBA Survey: Multifamily Lending Volume Expected to Increase in 2014
A majority of respondents expect loans for CMBS, commercial banks, life companies, and pension funds to increase this year, while loans for Fannie Mae, Freddie Mac and FHA will decrease.
Berkeley Point Capital Closes $36M for Sacramento Acquisition
Berkeley Point Capital has secured $36 million for Horizon Realty Partners’ purchase of a 646-unit asset in Sacramento.
TODAY’S DEALS: Fairfield Residential Acquires Baker Chocolate Factory in Boston
Beacon Communities sells a 133-unit asset in Boston to an affiliate of Fairfield Residential; Levin Realty completes a 559-unit acquisition in Greenville, S.C.; and a 12-unit Manhattan loft building trades for $12 million.
Economy Watch: December Employment Surprises on the Downside
Despite anemic overall hiring in December, total hiring was roughly the same in 2013 as it was in 2012. The unexpectedly tepid monthly numbers probably won’t cause a delay in the Fed’s tapering.
Timberland Acquires Four Properties Totaling 818 Units
Minneapolis-based Timberland Partners acquires a quartet of geographically diverse multifamily properties in December.
China’s Greenland Group Buys 7.8-Acre Brewery Development in London
A Chinese developer has entered the U.K. market with the $987 million acquisition of the Ram Brewery development site in London. The land is permitted for 661 new homes, including a 36-story multifamily tower.
MHN Interview: Steadfast’s Ella Shaw Neyland
Steadfast Income REIT had a banner 2013, adding nearly $1 billion to its portfolio of moderate income apartments. Big things are on the horizon as Steadfast launches its second public company, Steadfast Apartment REIT. Ella Shaw Neyland fills MHN in.