Regions
Student Apartments Take the Lead in National Building Competition
Chapel Hill, N.C.–The 850 students who live in the Morris Residence Hall in Chapel Hill, N.C., who attend UNC at Chapel Hill, had reason recently to cheer about an announcement from the U.S. Environmental Protection Agency.
DEAL OF THE DAY: George Smith Supplies Large, $32M, Construction Loan to Buyer to Complete Multifamily Project
Hollywood, Calif.–George Smith Partners, on behalf of an institutional client, completed a $32 million multifamily construction loan transaction.
PCCP and Ohio Public Employees Retirement System Form New Venture To Originate Senior Commercial Mortgages
San Francisco–PCCP, LLC and the Ohio Public Employees Retirement System have teamed up to form a new venture that will originate first mortgages.
Much-Needed Market-Rate Faculty Apartment Complex Debuts in Pricey Redwood City, Calif.
Redwood City, Calif.–Those in the business of education do not earn sky-high salaries, so the availability of market-rate housing, particularly in high-price residential markets, is a key concern.
DEAL OF THE DAY: Berkadia Originates $8.01M Construction Loan Via Credit Union
Arlington, Texas–Berkadia Commercial Mortgage originated a loan via a local credit union for the construction of a student housing community in Arlington.
Spanish-Speaking Apartment Renters Get Mobile Apartment Search Solutions
Norfolk, Va.–For Rent Media Solutions has launched the ParaRentar.com mobile site. ParaRentar.com is a fully-translated Spanish apartment search site. “The ParaRentar.com mobile site caters directly to the Spanish-speaking Hispanic audience,” says Terry Slattery, president of For Rent Media Solutions. “This is the first and only mobile website created with the Hispanic renter in mind. As of June 2010, the ForRent.com mobile site has generated 11 percent of traffic to ForRent.com. We hope to enjoy that same success with ParaRentar.com and the new mobile site.” According to research conducted during a Spring 2010 Pew Internet study, 87 percent of Hispanics own a cell…
Mortgage Applications Edge Up, Driven by Refi: MBA
Washington, D.C.–For the week ending Aug. 6, 2010, the Mortgage Bankers Association’s Weekly Applications Survey says that mortgage loan application volume increased for the week, but barely.
Multifamily REITs Now King of the Hill
Charlottsville, Va.–In a new report, SNL Real Estate notes that during the first half of 2010, multifamily REITs outperformed every other kind of REIT in various ways, but perhaps most importantly, in returns to investors.
Bottom Well Within Reach for Seniors Housing Market
Annapolis, Md.–The seniors housing market managed to keep its head just above water during the economic crisis, but it did not completely escape the accompanying ramifications.
MARKET SNAPSHOT: Providence, R.I. Apartments Stabilize, Increase Rents
Providence, R.I.–Despite its 11.5 percent unemployment rate (as of June 2010, according to the U.S. Bureau of Labor Statistics), Providence, R.I.’s apartment market is relatively stable.