Regions
DEAL OF THE DAY: Eastern Consolidated Completes $8.1M in Sales of Construction Loans for Stalled Condo Projects
Brooklyn, N.Y.—Eastern Consolidated brokered the purchase of defaulted loans to make possible the development of two stalled luxury condominiums in the Williamsburg neighborhood Brooklyn. In two separate transactions, Eastern Consolidated Senior Director David Schechtman and Associate Geoff Rand, represented the buyer, Nachas 180, LLC, of the two loans obtained to cover the cost of constructing the condominiums. Both off-market deals sold for a combined $8.1 million, were completed on an all-cash basis and represent the recapitalization of the Williamsburg developments which were well-conceived, but fell prey to the market downturn in end-unit pricing, and high construction costs. The two new…
Developer Drops Prices by 30% After Its Phoenix Property Fails to Sell
After about a year of being on the market
Camden Property Trust Announces $250M Equity Share Offering
Camden Property Trust recently created an equity share offering program through which it can sell common shares having an
CIC’s Fund Pool Will Rehabilitate 10,000 Affordable Rental Units in Chicago
At a time when many financial institutions are curtailing credit and neighborhoods are ravaged by an epidemic of foreclosures, a
Outstanding Multifamily Mortgages Drop: MBA
According to a Mortgage Bankers Association analysis of Federal Reserve Board Flow of Funds data released over the weekend, multifamily mortgage debt outstanding dropped $11 billion, a 1 percent decrease, between the third quarter and fourth quarter 2009.
Arjun Nagarkatti Is New President of AMCAL
AMCAL Multi-Housing Inc. recently promoted Arjun Nagarkatti to president.
Multifamily Management Specialist U.S. Residential Group Formed
Economic turmoil for multifamily owners and lenders means opportunities for multifamily property managers, if the pace at which such companies are being formed is any indication.
Recently Passed Senate Bill Addresses Low Income Housing Tax Credit Issues
While it may seem that Congress has been focused exclusively on health care legislation, a $100 billion jobs measure that passed the Senate on Wednesday contained several provisions important to the multifamily housing industry.
DEAL OF THE DAY: Alliant Capital Refinances Two Chicago Properties
Alliant Capital LLC made a $1.6 million refinance of Kedzie Boulevard Apartments,
Michael Mullin Joins Integrated Business Systems
Michael Mullin has joined real estate automation systems provider Integrated Business Systems (IBS) in Fairfield, N.J. as vice president of sales and marketing.