Regions
DEAL OF THE DAY: Donaldson Group and Equity Partner Buy Value-Add Opportunity from Tarragon
Temple Hills, Md.–The Donaldson Group and Angelo, Gordon & Co. acquired a 459-unit apartment community in Temple Hills, Md. for $38 million in an all-cash transaction.
Peterson and Bozzuto Partner for First National Harbor Apartments
Washington, DC–With the joint venture of The Peterson Companies and The Bozzuto Group, National Harbor will have its first apartment community.
Bill Introduced to Add LGBT Protection to Fair Housing Act
Washington, DC–House Democrats introduced the Housing Opportunities Made Equal (HOME) Act last week, which seeks to modify the Fair Housing Act and extend federal civil rights protections.
Stimulus Funds Help Kick Off Affordable Senior Housing Project
Waukegan, Ill.–The assistance of federal stimulus funds allowed Banner Apartments to begin constructing The Residences at Fountain Square outside Chicago.
DEAL OF THE DAY: NorthMarq Arranges $37M Mortgage for Two Phases of Apartment Project
Overland Park, Kan.–NorthMarq Capital has arranged first mortgage financing of $37 million for Stonepost Apartments.
Sycamore Urban Restarts Los Angeles-Area Townhome
Thousand Oaks, Calif.–Construction of an incomplete townhome project is about to pick up where it left off in 2008 now that Sycamore Urban Properties has taken the property off the hands of the FDIC.
DEAL OF THE DAY: Berkadia Originates $25,230,600 in Fixed-Rate Debt for Chicago Multifamily Property
Chicago–Berkadia Commercial Mortgage originated $25,230,600 in fixed-rate debt through its FHA/HUD program for the refinance and additional construction of Long Grove House, a multifamily property in Chicago.
NAHB Recognizes West L.A. Condo Project as “Trend-Setter”
Los Angeles–NAHB has recognized T Lofts, an 84-unit condo redevelopment project in Los Angeles, as a “top trend-setter in the multifamily housing industry.”
Insurance Costs Down for Apartments
According to the National Multi Housing Council, apartment owners saw a 6 percent decline in insurance costs in 2010 compared with last year.
DEAL OF THE DAY: Charles Dunn Represents Buyer in $1.9M REO Sale by Citibank
Los Angeles–Michel Hibbert of Charles Dunn Company negotiated a $1.9 million sale of a 19-unit apartment complex in Los Angeles.