Regions
Multifamily Finance: A Tough Road, But Not Impossible
MHN recently spoke with Ryan Welsh, principal at Aries Multifamily, about the prospects for multifamily finance in the near- to mid-term.
DEAL OF THE DAY: CB Richard Ellis Brokers First Downtown San Diego Apartment Sale Since 2007
Security Properties Inc. paid $22 million for Entrada, a 172-unit apartment property located at 453 13th Street in downtown San Diego. The multifamily transaction is the first 100-unit apartment sale in downtown San Diego since March 2007, according to CB Richard Ellis.
First Phase of Home Properties’ Suburban D.C. Apartment Project Opens in Growing Market
Alexandria, Va.–Located just 10 miles south of Washington, D.C., The Courts will consist of four buildings.
DEAL OF THE DAY: Arbor Closes $1,500,000 Fannie Mae DUS Small Loan
Arbor Commercial Funding LLC recently funded a $1,500,000 loan under the Fannie Mae DUS Small Loan product line for the 48-unit complex known as Villa Serena Apartments in Pittsburg, Calif.
Financial Reform Law Includes Another $1B for Neighborhood Stabilization Program
Washington, D.C.–The Neighborhood Stabilization Program has received a fresh infusion of $1 billion with the signing of the Restoring American Financial Stability Act of 2010 into law this week.
Organization Says Banks Backing Away from NYC Affordable Housing
New York–New York’s banks are shirking their responsibilities under the Community Reinvestment Act of 1977 (CRA)
DEAL OF THE DAY: Walker & Dunlop Closes on $20.21M Acquisition Loan at 78% LTV
Walker & Dunlop arranged a $20,208,000 acquisition loan for Spring House Apartments located in Laurel, Md. The loan was structured with a 10-year term and a 30-year amortization. The loan was underwritten to a 78.3 percent loan-to-value ratio with a 1.24 debt-service coverage.
TCOs Issued for W Residences Amid Changing Manhattan Condo Market
New York–The residential portion of the mixed-use W New York-Downtown Hotel & Residences takes a step forward.
John Kerin is New President & CEO of Marcus & Millichap
Encino, Calif.–Previously, Kerin was a senior vice president and managing director of the firm, overseeing 18 offices nationwide.