Regions
TODAY'S DEALS: Behringer Harvard Sells 408-Unit Property in Florida
Behringer Harvard completes a 408-unit disposition; and Affirmed Housing breaks ground on the second phase of a California development.
Riverstone Residential Group Announces Three Key Leadership Promotions
Riverstone Residential Group, a privately owned, third-party multifamily property management company, announced three key leadership promotions in the company’s client services group and west division.
Bridge Housing Buys Site in Marin County for Affordable Multifamily
Bridge Housing Corp., one of California’s largest nonprofit developers and owners of affordable housing, has bought a 3.5-acre site in unincorporated Marin County. The company plans an affordable housing development for the site.
First NorSouth HearthSide Senior Community South of Atlanta
Groundbreaking is expected to take place this summer on HearthSide Peachtree City, a new moderately priced, amenity-rich senior living community from Atlanta’s NorSouth Development.
Orange County Condo Property Successfully Reinvented as Upscale Apartments
Renters in Irvine, Calif., are clearly keen on upscale accommodations, as evidenced by the latest news at a luxury multifamily property built by Lennar and Intergulf Development Group in 2010.
Beech Street Sees Jump in DUS Lending
Beech Street Capital LLC reports that the company is now the nation’s number-three Fannie Mae DUS lender, with its multifamily financing volume spiking in 2011 to $2.2 billion. The company’s volume with Fannie Mae more than doubled last year.
MHN Interview: TransUnion Data Shows Vacancies Decreased But Rents Stayed the Same
Recent findings from TransUnion, a provider of risk management solutions, showed that while, on average, vacancy rates have decreased, rents have remained steady.
TODAY'S DEALS: HFF Arranges $31.9M Construction Loan
HFF arranges a construction loan for an asset near Seattle; Beech Street Capital provides $11.3 million for a Baltimore acquisition; and Lucent arranges a $12 million loan for the acquisition of fractured condo.
Landmark Properties Bringing Cottage Development for University of Arizona Students
Landmark Properties has teamed with Harrison Street Real Estate Capital in constructing nearly $400 million in student housing in eight developments. Their ninth collaboration will be a 774-bed student cottage development at the University of Arizona.
Multifamily Industry Still Limited by Credit Constraints, Says NAHB at the International Builders’ Show
The apartment sector is a bright spot in the overall housing market leading the industry’s path to recovery. However, the lack of credit to finance the development of new apartments is likely to cause a supply and demand imbalance.