Regions
Affordable Housing Project in Suburban Seattle Obtains Financing
Kirkland, Wash.–Saint Andrew’s Housing Group has won financing for construction of Francis Village Apartments through $10 million in Low Income Housing Tax Credits.
TODAY’S DEALS: HFF Arranges $59.5M for Multifamily Development in San Diego
HFF arranges a $59.5 million construction and mezzanine loan for a multifamily development in San Diego; Marcus & Millichap sells a 121-unit property in Santa Clara, Calif. for $31.4 million; and Invesco Real Estate acquires a 32-story property in Manhattan.
The Avenue at South Orange Wins NJBA’s Rental Community of the Year
South Orange, N.J.–The Avenue at South Orange, a 79-residence luxury community, has been recognized for its high-end amenities, design touches and ideal location.
TODAY’S DEALS: CBRE Sells 231 Units in Providence Community
CBRE handles the transaction of 231 units in Providence, R.I.; Inland Fund purchases Illinois residential development; and Cassidy Turley BRE Commercial completes sale transaction at $50,000 per unit.
Berkadia Launches Investment Client Services Division
Horsham, Pa.–Berkadia has launched Berkadia Investment Client Services, a new line of business providing commercial real estate investment sales services nationwide.
HUD Experiences Cuts in FY11 Budget, Faces Uncertain FY12
Washington, D.C.–Now that the long-delayed fiscal 2011 federal budget has been settled by Congress, the impact on HUD can be quantified.
TODAY’S DEALS: ARA Brokers Two Sales in Dallas Market
ARA brokers two sales in Abilene, Texas; Preferred Apartment Communities acquires Oxford Summit near Atlanta; and NorthMarq arranges a $26.2 million Freddie Mac mortgage with extended rate lock.
Luxury Active-Adult Apartment Property Reels in Renters in Suburban Baltimore
Ellicott City, Md.–Seniors are already lining up at Wood Partners’ Alta at Regency Center, a new active-adult apartment property in Ellicott City that opened a month ago.
TODAY’S DEALS: Cushman & Wakefield Negotiates $100M Sale
Cushman & Wakefield negotiates the sale of a luxury L.A. apartment for $100 million; Tikijian sells a 226-unit property in Indiana; and Grand Heritage Resort in Colorado closes 31 condo sales.
Prometheus Clears Site for TOD Development
Mountain View, Calif.–Prometheus Real Estate Group Inc. has cleared a site in downtown Mountain View for a new 203-unit apartment complex.