Regions
TODAY’S DEALS: Health Care REIT Announces Big Investment Partnership
Health Care REIT will invest approximately $1 billion into a Canadian portfolio partnership; Morgan Properties and DRA acquire a 620-unit asset; and Marcus & Millichap arranges the sale of a distressed community in Tampa.
$81M Serviced Suits Development Open in Singapore
Pan Pacific Hotels and Resorts has officially launched its newest location: the Pan Pacific Serviced Suites Beach Road in Singapore. The 180-key asset represents the company’s second Singapore location joining the Pan Pacific Singapore opened in 2008.
A Sunny Outlook for Conergy’s Second Solar Project in Romania
Conergy, one of the world’s leading PV solution and service providers, is expanding its footprint in the Romanian market with the development of a 2-megawatt solar power plant in the region of Slobozia.
Mortgage Delinquency Rates Increase, But Foreclosure Inventory Rate Down Sharply
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 7.25 percent of all loans outstanding at the end of the first quarter of 2013, an increase of 16 basis points from the previous quarter, but down 15 basis points from one year ago, according to the Mortgage Bankers Association’s National Delinquency Survey.
Apartment Conversion Started on Historic Philadelphia Landmark
Federal Capital Partners, Cross Properties and Alterra Property Group have teamed to renovate and convert the Philadelphia landmark 1616 Walnut Street to 206 luxury apartments in the historic Center City neighborhood.
MARKET SNAPSHOT: Rent Growth Expected to Stall as Deliveries Ramp Up in Portland
Set to dwindle from its post-recession peak, the Portland, Ore., metro is expecting slight vacancy increases along with a precipitous contraction in rent growth in the coming years.
Texas Affordable Housing Property Refinanced
The owner of Lago de Plata Apartments has obtained a $4.5 million FHA 223(a)7 loan to refinance the property. Proceeds from the loan will be used for repairs and to replace reserve escrows.
Economy Watch: Freddie Mac in the Black
Freddie Mac reported that it had a net income of $4.6 billion for the first quarter of 2013, compared to a net income of $4.5 billion for the fourth quarter of 2012.
TODAY’S DEALS: HFF Arranges $150M for Manhattan High-Rise
HFF announced that it has arranged $150 million in financing for the Madison Belvedere, a 50-story, 404-unit, Class A multi-housing property near Manhattan’s Madison Square Park; and Walker & Dunlop provides a $53 million Freddie Mac loan for a mixed-use property
Economy Watch: Home Prices Continue Upward Trajectory
More evidence that the housing market is in recovery mode.