Regions
WEB FEATURE: Global Market Report – South America
In the third and final piece of MHN’s global market report, a look at South America shows that potential for large-scale apartment communities exists in the region’s big cities.
Phillips Development & Realty and Picerne Real Estate Group Join Forces
Tampa, Fla.-based Phillips Development & Realty and Warwick, R.I.-based Picerne Real Estate Group have launched a joint venture under the name Phillips-Picerne Properties, LLC.
Zero Net Energy Development Near Completion at UC Davis
Davis, Calif.–The University of California-Davis is near completion of the first phase of a mixed-use project it is calling the “largest planned zero net energy community” in the United States.
WEB FEATURE: Global Market Report – Europe
Part two of MHN’s global market report focuses on Europe, a market that is surprisingly untapped and undeveloped compared to the U.S. model.
Neglected Property in Oakland Reemerges as Polished Affordable Housing Community
Oakland, Calif.–Affordable Housing Associates has completed a comprehensive rehabilitation of 401 Fairmount Ave., now serving overlooked segments of the population in more ways than one.
TODAY’S DEALS: The Praedium Group and Price Realty Acquire a 362-Unit Property
The Praedium Group and Price Realty Corporation acquire a 362-unit community in Lewisville, Texas for $20 million; Bell Partners purchases a 232-unit apartment property in Greensboro, N.C.; and Walker & Dunlop closes $18.1M Freddie Mac ARM.
CMBS Delinquency Rate to Stay in High-Single to Double Digits
The CMBS conduit/fusion delinquency rate is now 9.22 percent, an increase of six basis points, according to Moody’s Investors Service. “We expect the delinquency rate to run high-single to low-double digits over the near term,” states Tad Philipp, director – CRE Research, of Moodys Investors Service.
WEB FEATURE: Global Market Report – Asia
In the first of this three-part report on the challenges of investing and developing multifamily real estate abroad, MHN dissects impediments and opportunities in the Asian market.
AFL-CIO Housing Investment Trust Invests $58M to Build Boston Apartments
Boston–The AFL-CIO Housing Investment Trust has committed $58.2 million of union pension capital for the construction of the new Charlesview Apartments in Boston.
TODAY’S DEALS: ARA Completes Distressed Portfolio Sale
ARA completes a 10-property distressed portfolio sale; Marcus & Millichap sells a vintage San Francisco apartment for $4.75M; and George Smith Partners arranges $17M in financing.