Regions
NAHB: Homebuilder Confidence Declines
Washington, D.C.–Homebuilder confidence in June reached its lowest point since September 2010, according to the NAHB/Wells Fargo Housing Market Index.
Work Begins on Conversion of Randolph Tower to Apartments
Chicago–When restoration is complete, Village Green’s Randolph Tower City Apartments will be a mixed-use, 45-story historic high-rise including 313 rental units.
National Student Housing Council Sees Surge in Freshman College Applications
Washington, D.C.–A report from the National Student Housing Council finds that, despite the recession, colleges are receiving more applications than they were a couple years ago.
TODAY’S DEALS: MAA Acquires 256-Unit Community in Savannah
MAA acquires a 256-unit community in Savannah, Ga.; Cushman & Wakefield sells a development site approved for 116 units in a Boston suburb; and NAI Hanson markets a New Jersey multifamily development site.
TODAY’S DEALS: D.C.-Area Community Sells for $93 Million
AION Partners and The Carlyle Group acquire a 570-unit community for $93 million; a private investment group buys a San Francisco portfolio for $44 million; and Hendricks & Partners participates in the sale of a 39-unit property.
Armstrong Place Rental and For-Sale Residences Completed
San Francisco–Armstrong Place, an affordable housing development in San Francisco, includes a rental community for seniors as well as below-market-rate homeownership options for first-time homebuyers.
Commercial/Multifamily Mortgage Delinquency Rates Mixed in Q1
Washington, D.C.–The Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report finds that delinquency rates among different commercial/multifamily mortgage investor groups were mixed in the first quarter of 2011.
NAAEI Survey Reinforces Value of Continuing Education
Apartment managers surveyed by the National Apartment Association Education Institute agree that continuing education programs translate to higher pay and better performance.
TODAY’S DEALS: HFF Arranges $17.8 for Tallahassee Community
HFF arranges $17.8 million in financing for a 248-unit Class A community in Tallahassee; Black Castle Development submits letter of intent for 50-unit asset in Fresno; and NorthMarq arranges $15M five-year interest-only mortgage.
HUD Unveils Multifamily Refinance Program that Also Pays for Green Upgrades
Washington, D.C.–HUD has kicked off Green Refinance Plus, which will allow owners of affordable rental housing properties to refinance into new mortgages that include funding for energy upgrades.