Regions
Economy Watch: Existing Homes Sales Drop in January
Weather is blamed for slow single-family sales and the G20 announces plans for structural reforms to facilitate global growth.
David Durning: Construction Financing from an Insurance Company
VIDEO: David Durning, president and CEO, Prudential Mortgage Capital Co., describes the insurance company’s commercial property construction loan program.
Ground Breaks on New Supportive Housing Community in Santa Monica
The Hollywood Community Housing Corporation (HCHC) and Step Up On Second broke ground today on a supportive housing community in Santa Monica, Calif.
TODAY’S DEALS: Cornerstone Acquires Baltimore Apartment from The DSF Group
HFF brokers the sale of a 14-story high-rise in Baltimore; Berkadia provides $28 million for two Texas acquisitions; and RED closes a $26.2 million seniors housing construction loan.
George Smith Partners Secures Construction Loan for Las Vegas Property
George Smith Partners has arranged $51 million in construction financing for a 360-unit asset in Las Vegas. The developer is a joint venture between The Calida Group and Cypress Equity Investments.
Economy Watch: Mortgage Delinquencies Closer to “Normal” Levels
The MBA reports a decrease in residential delinquencies, while Bureau of Labor stats show that the the Consumer Price Index increased 0.1 percent in January.
Greystone Coordinates Financing for Jersey City Affordable Housing Community
Greystone has solidified financing for Salem Lafayette Apartments in Jersey City. The $64.5 million Fannie Mae Multifamily Affordable Housing (MAH) funding will go toward the acquisition and rehabilitation of the affordable housing community.
Ivanhoé Cambridge Invests in Quebec City Mixed-Use Development
Ivanhoé Cambridge has entered into a partnership to build Projet QB, a mixed-use complex that will feature more than 400 rental units and 200 condominiums in the Cité-Universitaire district of Quebec City.
IMMOFINANZ-Owned BUWOG to Buy 18K-Unit Portfolio in Germany for $1B
BUWOG is giving the German multifamily market a boost by acquiring an 18,000-unit portfolio in Germany and Austria for $1.2 billion.
TODAY’S DEALS: KBS Legacy Partners Acquires 240-Unit Asset in North Carolina
KBS Legacy Partners completes a $28 million apartment acquisition; The RADCO Companies picks up a 297-unit multifamily property in Atlanta; and NorthMarq Capital finalizes the $10.2 million refinancing of a USC student housing portfolio.