Regions
TODAY’S DEALS: ARA Executes Sale of 267-Unit Community in Charlotte, N.C. for $40.5M
ARA closes the sale of Elizabeth Square in N.C.; Salmanson acquires Nebraska student housing; and Berkadia Commercial Mortgage originates a $13.35 million loan through conduit.
Boston Capital Invests in Virginia Affordable Housing Development
Stuarts Draft, Va.–Boston Capital Corp. has agreed to become the latest investor in the construction of Montague Terrace Apartments, an affordable multifamily development in Stuarts Draft, Va.
Zillow Expands Zestimates to Include Rentals
eattle–Zillow has launched “Rent Zestimates,” a tool that can be used as a starting point for determining a home or apartment’s estimated monthly rent price, expanding on Zillow’s Zestimate home valuations.
$70M HUD Loan Moves Mixed-Use TOD Forward in Northern Virginia
Ashburn, Va.–Financing is in place for The Residences at Loudoun Station, a mixed-use project marking the first phase of a 3.8 million square-foot transit-oriented development.
Jamboree Awarded Grant for Special Needs Services
Irvine, Calif.–Jamboree Housing Corporation received a $15,000 grant as part of CSH’s Assuring Quality Initiative to assist residents living with permanent mental illness and to help end homelessness.
TODAY’S DEALS: NorthMarq Capital Arranges $21.8M Mortgage through Life Insurance Company
NorthMarq arranges $21.8 million in mortgage financing; HFF secures a $17.2 million refinance loan; and Marcus & Millichap arranges the sale of a 144-unit asset in Cleveland.
Condo Convertor Offers Deep Discounts on Chicago Property
Chicago–Condo sales and prices were down in 2010. American Invsco is temporarily knocking half the price off units in one of its properties.
$74M Mixed-Use Project Will Combine Grocery and Residential
Alexandria, Va.–Buchanan Partners and The Pinkard Group have joined forces to develop a $74 million mixed-use residential property with ground-level retail.
TODAY’S DEALS: Granbridge Closes $31.9M Mortgage Secured by 352-Unit Property
Granbridge closes $31.9 million first mortgage; CBRE sells a 304-unit student-housing community; and HFF closes sale of suburban apartment property.
The Federal Debate over Spending Cuts
Preserving the Low-Income Housing Tax Credit is just one of several high-priority issues to watch.