Regions
TODAY’S DEALS: Panther Properties Acquires Three Class A Assets for $75M
Panther Properties buys a Southern portfolio; Berkeley Point Capital closes a $32.7 million refinance loan for a California asset; and NorthMarq Capital arranges $19.35 million in acquisition financing.
Carroll Organization Continues Houston Multifamily Expansion
The Carroll Organization has acquired two residential properties in Houston, the 330-unit Waterford on Westheimer and Villas at Westheimer, which also totals 330 units.
Construction Begins on New TOD in Charlotte’s Historic Arts District
The NoDa District of Charlotte, N.C., an enclave of distinctive galleries, restaurants, bars and performing spaces, will soon be home to a brand new 340-unit apartment building.
Corvias Group Renames Military Housing Division
Corvias Groupannounced that its military housing division will now be called Corvias Military Living, advancing a corporate re-branding that began in July 2012 with the introduction of the company’s new student housing division, Corvias Campus Living.
Economy Watch: Fannie Mae Roars Back to Profitability
Fannie Mae, practically given up for dead during the abyss of the Great Recession, showed signs of life in 2012.
TODAY’S DEALS: Pollack Shores Acquires 252-Unit Asset in Florida
ARA brokers a 252-unit sale in Florida; Centerline provides a $3.6 million refinance for an age- and income-restricted property in Minnesota; and Ideal Realty Group brokers the sale of two apartment towers by Virginia’s transportation department.
Court Verdict Allows Carmel Partners to Keep SF Apartment Property
California Superior Court Judge Marla J. Miller has ruled in favor of the defendants in a case involving a loan originally taken out before the credit freeze and subsequent economic crisis of 2008 for the acquisition of an apartment property in San Francisco.
The JBG Companies Acquires 450-Unit Community
The JBG Companies has acquired a 450-unit multifamily community from Home Properties of Rochester.
Meta Housing Completes $43M Multifamily Redevelopment in LA’s Chinatown
Meta Housing Corp. has completed the redevelopment of The Metro at Chinatown Senior Lofts, formerly vacant, which is now a transit-oriented, affordable senior housing property in Los Angeles’ Chinatown.
Fannie Mae Reports Largest Net Income in Company History
Fannie Mae reported annual net income of $17.2 billion for 2012 and quarterly net income of $7.6 billion for the fourth quarter of 2012, compared with a net loss of $16.9 billion for 2011.