Regions
TODAY’S DEALS: Red Capital Finances $70M New Construction Loan
Red Capital Finances $70 million in a new construction loan for an infill project; Helios Capital Advisors completes two note sales; and The Community Preservation Corporation provides a $1.2 million construction loan for the rehabilitation of two Harlem apartments.
Massive Trump Hotel Tower Opens in Panama
The 70-story Trump Ocean Club International Hotel & Tower Panama, occupying a total of 2.7 million square feet, is poised to become one of Latin America’s newest landmark properties.
Riskier Treasuries Might Send Investors to Top-Quality Multifamily Properties
MHN talks with Christian L. Redfearn, associate professor at the USC School of Policy, Planning and Development and member of the Lusk Center for Real Estate, about what the debt crisis might mean for multifamily.
TODAY’S DEALS: Colonial Properties to Sell $338M Apartment Portfolio
Colonial Properties enters a preliminary agreement to sell an 18-property portfolio; Krupp & Company sells a 144-unit Bay Area community for $25.2 million; and Cignature Realty Associates closes the sale of a 55-unit walk-up in Manhattan.
TODAY’S DEALS: Jones Lang LaSalle Closes $190.1M Sale of Metro Baltimore Multifamily Portfolio
Jones Lang LaSalle brokers a $190 million six-property portfolio sale by SRH/CMS Berkshire LP to the Harbor Group International; Canyon-Johnson Urban Funds acquires a 125-unit community in Dallas’ Oak Lawn neighborhood; and GFI sells a 22-unit garden-style property in Queens, N.Y.
AMCAL to Debut First LEED Silver Affordable Housing Project
Panorama City, Calif.–AMCAL Multi-Housing Inc. is taking its commitment to a new level with the Los Angeles-area Montecito Terraces senior workforce housing project.
Reauthorization of the National Flood Insurance Program
The NFIP expired in 2008 and has since been operating on a series of extensions. Efforts to reauthorize have been coupled with needed reforms to return the program to solvency.
HUD Proposes New Assessments for Public Housing Authorities
HUD has proposed a new set of rules that would require public housing authorities to conduct physical needs assessments every five years, with 20-year projections.
TODAY’S DEALS: Dezer Pays Off $265M Mortgage on Miami Beach Trump Towers
Dezer pays off a $265 million mortgage on two of the Trump Towers in Miami Beach, Fla.; Arbor closes six Fannie Mae deals totaling $23.6 million; and Walker & Dunlop closes a $4.2 million acquisition loan secured by a 50-unit property in Minnesota.
Historic Rhode Island Property Receives Financing for More Apartments
East Providence, R.I.–Rumford Center, the mixed-use redevelopment of a historic mill complex, has obtained $15.5 million to complete the residential aspect.