Regions
USGBC LEED Volume Program Available for Existing Buildings
Washington, D.C.–The U.S. Green Building Council announced that LEED Volume Program for Operations & Maintenance is now available for existing green building projects.
TODAY’S DEALS: Howard Hughes Corp. Acquires $117.5M Interest in Woodlands Community
Howard Hughes Corp. acquires $117.5 million interest in Woodlands master-planned community; Phillips Development and Realty closes a $3.7 million refinance on a 129-unit community; and M West Holdings acquires a 43-unit apartment property in California.
California Congressman Calls for Replacement, Not Elimination, of GSEs
Washington, D.C.–Rep. Gary Miller (R-CA) plans to introduce a bill that would replace the GSEs with a new, consolidated entity whose function would be very much like Fannie and Freddie.
JLL Strengthens Multifamily Team in SoCal
San Diego–Higher occupancies and rising rental rates in the Southern California apartment market are creating a significant demand for investment sales expertise, prompting Jones Lang LaSalle to hire big guns.
Elizabeth, N.J., Celebrates Completion of Waters Edge Crescent
Elizabeth. N.J.–The opening of Waters Edge Crescent marks the completion of the Elizabeth’s 14-year initiative to demolish approximately 650 distressed public housing units and rebuild the same number of newly constructed modern affordable housing units.
TODAY’S DEALS: Walker & Dunlop Closes $177M Fannie Mae DUS Loan
Walker & Dunlop provides a $177M loan secured by a community in Hawaii; Tryko Partners LLC acquires a 495-unit community in Baltimore; and a joint venture between The Praedium Group and McDowell Properties acquires a 256-unit community in California for $45 million.
Solar Installation Completed at San Diego Affordable Housing Property
The largest Multi-family Affordable Solar Housing project in San Diego (so far) has been completed at Mayberry Townhomes, a 70-unit affordable rental property.
Durban Amendment’s Impact on Resident Debit Payments
A rule that would make it cheaper for residents to use debit cards to pay rent is now under threat.
TODAY’S DEALS: 300-Unit Community Commands $14.2M
Marcus & Millichap brokers the sale of a 300-unit community in Florida; HFF secures $220M for eight Olen properties located in Nevada and Florida; and NorthMarq arranges an $8.5 million loan with a two-year prepayment window.
New Developer Re-Starts Residential Project in West Suburban Chicago
Hinsdale, Ill.–Inland Opportunity Fund L.L.C. recently bought the partially developed Hamptons of Hinsdale with the goal of repositioning it for today’s market.