The Washington, D.C. office of HFF (Holliday Fenoglio Fowler LP says it has closed the sale of The Palatine, a 262-unit, Class A high-rise multi-housing community in Arlington, Va. Crescent Heights of America was the successful bidder at the foreclosure auction and purchased the property for $118 million.
Affordable and workforce housing will be critical in the 2010s
Magnusson Architecture and Planning recently introduced MAP Green, a division specializing in green consulting servic
Local volunteers of the Sierra Club and the U.S. Green Building Council have started conducting public tours of green buildings across the country.
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…
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.
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.