Regions
Related Companies’ National Portfolio Goes Smoke-Free
Related Companies, a privately owned real estate company, announced that its entire national portfolio is going smoke free. This portfolio contains more than 40,000 luxury, workforce and affordable communities located across the country in 17 states.
Builder Confidence Hits Major Milestone in June
Builder confidence in the market for newly built single-family homes hit a significant milestone in June, surging eight points to a reading of 52 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today.
Carmel Partners Names David McWhorter Head of Investor Relations
Effective July 8, 2013, David (“Mac”) McWhorter will join the real estate investment management firm of Carmel Partners as managing partner, head of investor relations, the firm announced today. McWhorter will be based in the firm’s San Francisco headquarters.
Marcus & Millichap Outlook: Economy Scoring Steady Gains
The U.S. economy is experiencing a slow, steady expansion in spite of recurrent headwinds, Marcus & Millichap reports in its mid-year apartment market outlook.
Economy Watch: IMF Cuts Estimate for U.S. Growth
The International Monetary Fund reported that it expects the U.S. economy to grow by a relatively anemic 1.9 percent in 2013, while asserting that growth could be as much as 1.75 percentage points more than the estimate, but the sequester is getting in the way.
City of Cincinnati Approves Plans for Multimillion-Dollar Developments
Cincinnati City Council approved last Wednesday plans for a 30-story apartment tower at the northwest corner of 4th Street and Race Street in the city’s downtown. The project is expected to cost about $80 million.
JV Opens Brand New Elegant and Affordable Housing for Low-Income Seniors
An affordable housing community for low-income seniors at the brand new Canby Woods, 7238 Canby Avenue, Reseda, has broken ground.
L.A. Hospital Redeveloped into Affordable Seniors Housing
The first phase of Linda Vista Senior Apartments, which is part of the redevelopment of a former hospital in Los Angeles, has opened.
TODAY’S DEALS: Beech Street Refinances NYC Portfolio
Beech Street Capital closes a $49.5 million loan for a NYC portfolio; Cohen Financial secures $34 million for a Colorado development; and Centerline Capital provides an $11.4 million refinance loan for a Maryland property.
U.S. Bank Completes Financing Deal for Two L.A. Senior Affordable Housing Projects
An important financing deal securing the future of two urban senior housing developments in Los Angeles was completed last week when U.S. Bank confirmed that it is providing $55.1 million for the projects. The two affordable housing complexes have groundbreaking ceremonies scheduled this month. U.S. Bank is working with the Retirement Housing Foundation to get the two developments done. The banking giant will present the organization with a $30,000 check, in support of its current senior housing endeavors.