Regions
Manna Inc. Buys DC Apartment Community
The 44-unit Vito Terrace Apartments in northwest Washington, D.C., has traded hands for an unspecified price.
TODAY’S DEALS: AFL-CIO Provides $33M for Minneapolis Construction
The AFL-CIO Housing Investment Trust provides $33 million for the construction of an apartment community; NorthMarq Capital negotiates a $34.5 million life company loan allowing for rate lock during the lease up period; and CBRE/NE arranges $16.1 million for a Massachusetts asset.
NYSERDA Announces Funding Opportunity for Multifamily Heating Improvement Measures
The New York State Energy Research and Development Authority has announced that $1.2 million in funding has been set aside to assist multifamily buildings in implementing improvements to heating systems.
Craig M. Robinson Joins Colliers as President
Colliers International announced that commercial real estate veteran Craig M. Robinson will take the reins as president of Colliers’ U.S. business, a newly created position.
LandSouth Construction Completes Multifamily Developments in FL and NC
LandSouth Construction has completed two new apartment communities: Lost Lake Resort Apartment in Jacksonville, Fla., and Phillips Research Park in scenic Durham, N.C.
Economy Watch: Fannie Mae Delinquencies Still Falling
Fannie Mae reported that its single-family serious delinquency rate declined from 2.33 percent in January to 2.27 percent in February.
Bascom Buys Vegas Multifamily for $22M
California-based Bascom Group has acquired Chapel Hill, a 222-unit garden apartment property at 9620 W. Russell Rd., Las Vegas, for $22.47 million.
Passco Acquires Class A Community in Raleigh, NC
Passco Companies has announced the acquisition of Carrington at Brier Creek for $37.3 million. The purchase of the Class A, 270-unit luxury garden-style community was on target for the company’s ongoing strategy to acquire high-quality core assets in high growth areas outside of primary markets.
Cristi Resciniti Promoted to CFO at Pennrose Management Co.
Cristi Resciniti, CPA, has been promoted to chief financial officer at Pennrose Management Co.
TODAY’S DEALS: Miami Waterfront Development Site Trades Hands
ARA brokers a multifamily development site in Miami Beach, Fla.; Berkadia arranges $86 million for 15 seniors housing communities in North Carolina; and an Israeli insurance company acquires its first multifamily property in the United States for $48 million.