Regions
TODAY’S DEALS: HFF Arranges $371.7M for Tishman Condo in San Francisco
Tishman Speyer lands construction financing with help from HFF; BRE Properties sells a Los Angeles asset for $46.8 million; and NorthMarq Capital arranges a $14 million loan from a life insurance company for note acquisition deal.
Construction Begins on Seniors Housing in Brooklyn
Developer CPC Resources Inc. has joined forces with Ground Community HDFC, East Brooklyn Congregations, Common St. Paul Community Baptist Church, the U.S. Department of Housing and Urban Development and the New York State Homes and Community Renewal on construction of Redwood Senior Living in the East New York section of Brooklyn.
Yardi Commercial Leasing Pad Wins Realcomm Digie Award for Promoting Fast, Efficient CRM and Leasing Workflows
Yardi Commercial Leasing Pad™, a new, end-to-end mobile leasing and tenant support solution, stands ready to help commercial property leasing agents and managers reduce leasing cycle times with leasing workflows and instant access to key property information.
Economy Watch: Construction Spend Rises in May
The Census Bureau said that U.S. construction spending during May was at an annualized rate of $874.9 billion, 0.5 percent above the revised April rate. The May figure is 5.4 percent above the May 2012 total of $830.4 billion.
Energy-Oriented Financing Complete for D.C. Apartments
Urban Energy Advisors has completed Property Assessed Clean Energy (PACE) financing for a 139-unit affordable apartment property in Washington, D.C., totaling $340,000.
Carroll Organization Acquires 256-Unit Houston Community
Carroll Organization and investment partner NorthStar Realty Finance Corp. have acquired a 256-unit community called Limestone Ranch in Houston.
TODAY’S DEALS: Capri Capital, Kennedy Wilson Buy 437 Units in Marina del Rey
Capri Capital and Kennedy Wilson complete a $225 million purchase; CBRE facilitates a 110-unit sale in San Diego; and Meridian Capital Group arranges a $12 million refinance loan for a Pennsylvania community.
Maryland Office Building to Become Apartment Community
A five-story office building at 11411 Georgia Ave. in Wheaton, Md. is being redeveloped as an apartment building.
Economy Watch: Mortgage Delinquencies Drop
Fannie Mae reported on Friday that the single-family serious delinquency rate for the mortgages that it owns and insures dropped in May to 2.83 percent from 2.93 percent in April, down to the lowest level since January 2009, when delinquencies were on the way up.
Work Under Way on San Francisco High-Rise Condos
Tishman Speyer and China Vanke have broken ground for Lumina, a mixed-use project at Main and Folsom streets in downtown San Francisco, near the waterfront. The development will include 655 condo units, along with retail and parking.