Regions
San Fran Board of Supervisors Helps Mixed-Use Project Clear Last Hurdle
San Francisco–Plans for 900 Folsom, a 450-unit mixed-use residential development..
DEAL OF THE DAY: Bernard Financial Sources $13M Financing for Mich. Property from Life Insurance Co.
Bernard Financial Group arranged a $13,000,000 loan for the Westlake Apartments. The financing comes from Minnesota Life insurance Co.
MARKET SNAPSHOT: With Pricing Hitting Bottom, Phoenix Investors Pick Up the Pace
Phoenix–The city’s economy hasn’t recovered just yet; in fact, apartment rents and occupancies remain stagnant.
Search for Apartments on the iPad-There’s an App For It
Norfolk, Va.–The application mimics a realistic apartment search experience for prospective renters.
DEAL OF THE DAY: NorthMarq Finds $12.29M in Permanent Financing for Distressed Property
Las Vegas–NorthMarq Capital’s San Diego regional office arranged first mortgage financing of $12.293 million for Summerlin Entrada Apartments.
Park Slope Condos Go For New LEED Midrise Certification
New York–After acquiring a teardown on Dean Street, Trident decided that its six-unit condo project would serve as a pilot for green design in future developments.
MHN Interview with Laura Khouri: Maintaining Balance Between Rents and Occupancy Is Key Challenge with Property Management
Irvine, Calif.–Laura Khouri succeeds Thomas K. Shelton as president of Western National Property Management.
Zeta Communities Gets $5M Equity Infusion from Black Coral Capital
San Francisco–With the equity financing from Black Coral, Zeta will be to expand its product line.
DEAL OF THE DAY: Alcole Capital Obtains $17.2M Loan from Global Lender
San Diego–Alcole Capital Group arranged $17.2 million for the refinance of a 262-unit multifamily property in San Diego.
Campus Advantage Promotes Duckett to Chief Business Development Officer and EVP
Austin, Texas–Campus Advantage has promoted Scott Duckett to chief business development officer (CBDO) and executive vice president. As the CBDO, Duckett oversees the company’s business development, market strategy and investor services. Prior to his promotion, he was senior vice president of professional services. He joined the company in 2005 as the director of business development. “Duckett has been instrumental in building our industry-leading higher education development services,” says Mike Peter, president and CEO of Campus Advantage. “We are in a strong position to take advantage of a recovering investment landscape and robust student housing prospects.”