Regions
Ohio Multifamily Markets Mostly in Good Shape: Marcus & Millichap
Cleveland–Three recent second-quarter 2010 reports on the three major Ohio multifamily markets–metro Cleveland, Cincinnati and Columbus–by the real estate investment specialist Marcus & Millichap paint a largely optimistic picture for the property type, though not entirely.
Manhattan’s Luxury Apartment Market to Welcome 55 Thompson This Fall
New York–In just a few months, 55 Thompson will join the small list of luxury apartment buildings in Manhattan.
Web Feature: In Down Time, What Are MF Developers Doing?
New York–Multifamily starts have hovered in the 100,000 to 142,000-range for all of this year, which isn’t saying anything positive about the multifamily sector.
DEAL OF THE DAY: Marcus & Millichap Helps Meet Borrowers’ Needs in $6.78M Refinances
Canoga Park, Calif. – Marcus & Millichap Capital Corporation (MMCC) has arranged $6,775,000 in loans to refinance two multifamily assets. The properties and loan amounts are: a 44-unit apartment complex in Canoga Park, Calif., for $3,000,000, and a 132-unit multifamily property in Hurst, Texas, for $3,775,000. Sharone Sabar, a director in the firm’s Encino office, arranged the loans.
Wood Partners Expands Workforce, Seniors and Student Housing Development Efforts
Charlotte, N.C.–Multifamily developer Wood Partners L.L.C. has decided that the time is right to expand its Specialty Housing Group in a fairly big way, by adding new representatives in each of its five regions nationwide.
New Student Housing Property at University of Maryland Reaches Full Occupancy as Doors Open
College Park, Md.–There is not a single room to spare at the newly developed, 154-unit University View II student apartment property near the University of Maryland in College Park, Md.
DEAL OF THE DAY: Bernard Financial Originates $9.76M Loan for Prudential Huntoon Paige
Roseville, Mich.–Bernard Financial Group arranged a $9,760,700 loan for the Kensington Place Apartments.
Combined Wells Fargo-Wachovia Top U.S. CRE/Multifaily Loan Server, Notes MBA Survey
Washington, D.C–According to the mid-2010 survey of commercial and multifamily mortgage services by the Mortgage Bankers Association, Wells Fargo (including Wachovia) tops the list firms of master and primary servicers in the U.S. $462.8 billion in loan volume.
Court Allows Receiver to Sell Abandoned Arizona Apartment Portfolio for $123M
San Diego–Maricopa County (Ariz.) Superior Court Judge Eileen S. Willett has ruled that San Diego-based Trigild can sell seven Arizona apartment properties that it currently holds in receivership.
Development of Upscale Apartment Project Atop Manhattan Hotel Reaches Completion
New York–Beatrice occupies the top 30 floors of the tower at 105 West 29th St. in Manhattan’s Chelsea neighborhood.