Regions
MHN Interview with Greg Rutten: Apartment Market Downturn Will Last Another 3-4 Years
He talks to MHN about the trend of distressed deals and how QualityFirst Commercial helps developers through the process of foreclosure.
Long-Shuttered School Transformed Into Wilber School Apartments
Sharon, Mass.–A vintage 1920s school in Sharon, Mass. has been renovated and combined with complementary new structures.
Google Establishes $86M Low-Income Housing Fund through U.S. Bank Subsidiary
Mountain View, Calif.–Search engine giant Google has found a new vehicle for giving back to the community.
DEAL OF THE DAY: Red Completes $136M Fannie Mae Refinance Loan for 10-State Portfolio Acquisition
Columbus, Ohio–Red Mortgage Capital, LLC, the mortgage banking arm of comprehensive capital provider, Red Capital Group, recently closed a $136 million-plus transaction on a pool of 11 assets located across 10 states nationwide.
gallery 421 Opens in Downtown Long Beach
Irvine, Calif.–gallery421, Lyon Communities’ third luxury project in downtown Long Beach is now ready. The first residents moved in late June.
Texas Multifamily Markets, Especially Austin, Show Their Strength
Austin–The recession hasn’t hit the central Texas city of Austin quite as hard as in most other places, and for the metro Austin apartment market, that means better times ahead.
DEAL OF THE DAY: Beech Street Funds $13M Refinancing with Interest-Only Feature
Queens, N.Y.–Beech Street Capital LLC provided $13 million in permanent financing for the refinance of Alpine Gardens Apartments in Queens, N.Y.
Boston Capital Invests in Green Affordable Seniors Housing Project in San Antonio
San Antonio–The Mirabella Apartments, an affordable seniors housing development in San Antonio, Tex., has gotten a financial boost with Boston, Mass.-headquartered Boston Capital’s recent $6.13 million equity investment.
HUD Announces $189M Available to Transform Assisted Living and Public Housing
Washington, D.C.–The U.S. Department of Housing and Urban Development (HUD) is making $189 million in grants available to transform public and assisted housing and to revitalize communities.
DEAL OF THE DAY: KeyBank Provides $10M in Refinancing
Philadelphia–KeyBank Real Estate Capital recently provided approximately $10 million in Fannie Mae and Freddie Mac funding for the refinancing of two multifamily properties in the Northeast.