Regions
Boston Capital Invests in 70-unit Affordable Multifamily Development
Boston Capital is investing in the construction of Cheriton Heights Apartments, a 70-unit multifamily development for seniors in Boston’s West Roxbury neighborhood.
MBA Analysis Pegs 2011 Multifamily Lending at $110 Billion, Up 60 Percent From 2010
In 2011, 2,653 different multifamily lenders provided a total of $110.1 billion in new mortgages for apartment buildings with five or more units, according to a report from the Mortgage Bankers Association.
Economy Watch: Apartment Vacancies, Absorption Both Edge Down
Reis Inc. reported on Wednesday that the national apartment vacancy rate was 4.6 percent during the third quarter, down a notch from 4.7 percent during the previous quarter.
New Apartments Underway in Suburban Philly
Madison Apartment Group has broken ground on Madison New Britain, a 232-unit apartment community in the Philadelphia suburb of Chalfont in Bucks County.
Salmanson Capital Acquires Student Housing Portfolio
Salmanson Capital has acquired a portfolio of off-campus student housing adjacent to Bethlehem’s Lehigh University for $15.23 million.
TODAY’S DEALS: Archstone Buys Marina del Rey Apts for $44M
Archstone buys a 205-unit asset in SoCal; Multi-Employer Property Trust lands a Dallas tower; and Pure Multi-Family REIT announces plans for a $52.5 million buy in Dallas-Fort Worth.
Economy Watch: Home Prices Jump, Says CoreLogic
Home prices nationwide, including distressed sales, increased year-over-year by 4.6 percent in August compared to August 2011, according to CoreLogic.
Sterling Construction in Joint Venture for New Development in North Dakota
Because of a local oil boom of the Bakken Shale Formation, Dickinson, N.D., has become a booming residential area. And that is why Sterling Construction, part of The Sterling Group, feels it is the ideal location for its new $32.3 million community.
TODAY’S DEALS: Lyon Breaks Ground on 366-unit Asset
Lyon Communities begins a Silicon Valley development; San Antonio Commercial Advisors arranges a 288-unit sale; and HFF secures $19.5 million in financing for student housing.
Affordable Housing Community to be First New Construction of Apartments in Ewing Township in 40 Years
The Gardens at Birmingham, a planned 48-unit affordable housing community in Ewing Township, N.J., was awarded Federal Low Income Housing Tax Credits by the New Jersey Housing & Mortgage Finance Agency.