Regions
MARKET SNAPSHOT: Southeast Michigan Shows Some Signs of Recovery
Although it is still struggling to some extent, downtown Detroit has shown some positive signs of slowly bottoming out, especially given the auto industry’s gradual rebound.
SureDeposit Hires Regional Account Manager, Analyst
Paul Garcia has joined SureDeposit as a regional account manager and Frank DiMarzio has joined SureDeposit as an analyst.
Ted Tozer Is New President of Ginnie Mae
Ted Tozer was sworn in today as the President of the Government National Mortgage Association (Ginnie Mae).
Alexander Biagoli Appointed Director in Arbor’s NYC Office
Arbor Commercial Funding LLC has appointed Alexander Biagoli to director in Arbor’s New York City office. Biagoli is responsible for originating loans nationwide using Arbor’s complete product portfolio, with a specialty in Fannie Mae DUS and FHA transactions. He reports to Ken Fazio, vice president, National Sales Manager.
Lettire Presses on With NYC Affordable Housing
Private housing developers like Lettire Construction are pressing forward with affordable housing projects in the city.
MHN Interview with Stuart Saft: “There Will Be Large Number of MF Foreclosures by Mid-Year”
Stuart M. Saft is the new Chair of the Global Real Estate Practice at Dewey & LeBoeuf. He talks to MHN about the impending foreclosure crisis in the multifamily sector.
DEAL OF THE DAY: Boston Capital Invests in Affordable MF Development in Calif.
Boston Capital provided equity, and construction and permanent loan, for Summer Hill Place, which will be a 50-unit multifamily development in Fresno, Calif.
MyNew Place, Walk Score Form Partnership to Boost Walkable Communities
Apartment dwellers have typically focused on factors such as the length of their commute to work and the quality of schools when choosing which community to live in. But, a community’s walkability also seems to be playing a larger role in the decision-making process.
DEAL OF THE DAY: Forest City and Bernstein Management Joint Venture on 3 Properties at 6.5% Cap Rate
Washington, D.C. –Forest City Enterprises Inc. created a joint venture with Bernstein Management Corp. for ownership of three residential multifamily properties, totaling 1,340 rental units, in the Washington, D.C. metropolitan area.
Edge Principal Advisors Announces Multifamily Investment Platform
Edge Principal Advisors LLC has launched a multifamily investment platform. Edge will target institutional quality apartment communities located in select markets the firm expects to benefit from outsized rental demand over the next several years.