Regions
TODAY’S DEALS: NorthMarq Arranges $16.93M for Institutional Borrower’s Class A Mid-Rise
NorthMarq arranges $16.93M for new property; NAI Capital Commerce closes $16 million apartment sale; and Chalres Dunn negotiates the sale of a 35-unit property in Los Angeles.
Multifamily to Benefit from Improving CRE Finance
San Diego–Lack of capital is no longer the main problem for real estate finance, according to Jones Lang LaSalle’s 2011 Commercial Real Estate Financing Outlook.
Bozzuto Kicks Off 121-Unit Suburban Baltimore Townhome Project
Towson, Md.–Bozzuto Homes prepares to bring 121 new for-sale townhomes to Towson with Towson Green, a $40 million residential development outside of Baltimore.
TODAY’S DEALS: Security Properties Acquires 276-Unit Property in Colorado
Security Properties acquires a 276-unit Denver-area multifamily complex; NAI represents buyer and seller in $16M sale; and Marcus & Millichap brokers the sale of a 126-unit assisted-living property.
MBTA Vote Paves the Way for Big TOD Project in Suburban Boston
Somerville, Mass.–MBTA’s recent vote in favor of a new Orange Line T station marks a big step forward for a massive mixed-use, transit-oriented development in Somerville.
Reston Station Apartments May Begin Next Year
Reston, Va.–Ground breaking for the first component of the Reston Station Metro Facility–which will form the foundation for Reston’s first TOD, a 1.3 million square-foot, mixed-use development–has been set for this spring.
TODAY’S DEALS: CBRE Arranges $45M for Mich. Student Housing
CBRE capital markets has arranged $45 million in financing for the construction of a 606-bed student housing project next to the University of Michigan; Grandbridge supplies $19.85M for Florida apartment; and Alliant Capital LLC closes a $3.4 million loan to refinance Chicago’s Powhatan Apartments.
Bovis Lend Lease Tapped to Build Mixed-Use TOD in Maryland
Odenton, Md.–The Village at Odenton Station, a 400,000 square-foot mixed-use residential project near Baltimore and D.C., moves closer towards realization.
TODAY’S DEALS: Cortland Partners Acquires Metro Atlanta Apartments
Cortland Partners has acquired a 308-unit property in metro Altanta; Beech Street closes $80.2M in Freddie Mac loans for two New York high rises; and Abacus Capital Group sells $68 million multifamily complex in California
Economy Watch: Battle of the Budgets Begins
The Obama administration released its version of the fiscal 2012 federal budget to compete with the House Republicans’ version, but neither side is willing to make cuts to non-discretionary spending.