Regions
DEAL OF THE DAY: Bell Partners Fund Purchases Apartment Property
Chesapeake, Va.–Bell Partners Inc. has joined with a group of high net-worth ownership entities to purchase the 192-unit Alta Great Bridge Apartments in Chesapeake, Va.
Housing Industry Awaits Answers on GSE Reform
GSEs continue to struggle with financial issues as they await promised reform–reform that is unlikely to move any faster as Republicans take control of the House of Representatives when the 112th Congress meets in January.
DEAL OF THE DAY: Arbor Replaces Mortgage with $1.33 Fannie Mae Small Loan at More Favorable Terms
Brookhaven, Miss.–Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,332,500 loan under the Fannie Mae DUS Small Loan product line for the 96-unit complex known as Lakeview Arms Apartments in Brookhaven, Miss. The 10-year loan amortizes on a 30-year schedule.
Fannie Mae Mostly Optimistic about Multifamily in 2011
Despite stubbornly high unemployment, multifamily fundamentals improved during the third quarter of 2010, but the sector’s recovery is expected to pull back slightly during the fourth quarter.
DEAL OF THE DAY: Berkadia Advances $42.66M Freddie Mac Capital Markets Loan for Acquisition
San Diego–Berkadia Commercial Mortgage originated a total of $42,660,000 in fixed-rate debt through the Freddie Mac Capital Markets Execution (CME) program for the acquisition of Canyon Hills and Flower Fields, two multifamily properties in San Diego County.
DEAL OF THE DAY: Colliers Represents Hamilton Zanze in $9.7M Sale
Mesa, Ariz.–Colliers International-Greater Phoenix negotiated the sale of Sorrento Apartments, a 226-unit multifamily property located at 901 South Dobson Road in Mesa, Ariz., for $9.7 million or $42,920 per unit.
INVESTMENTS: Jones Lang LaSalle Offers Class A West Houston Apt. Property for Sale
Houston–Jones Lang LaSalle says its capital markets experts have been retained by Investment Realty Holdings LLC
DEAL OF THE DAY: Tribeca Loft Building Sells for $13M after Only 2.5 Months on the Market
New York–The late-19th century, seven-story loft building at 481-487 Washington Street in Manhattan’s trendy TriBeCa neighborhood has just traded for benchmark pricing, fetching $13 million ($281 per square foot).
Texas Apartment Markets Rebounding
Three recent reports on major metro area apartment markets in Texas by real estate investment specialist Marcus & Millichap point to better times for apartments because of a relatively buoyant Texas economy.
DEAL OF THE DAY: USAA Buys New, 100% Leased, Apartment Property from Wood Partners
Orlando, Fla.– USAA Real Estate Company announces the purchase of Patterson Court, a Class-A multifamily community located in Little Lake Bryan, a master development in Orlando, Fla. The property was purchased from Atlanta-based Wood Partners.