Northeast
DEAL OF THE DAY: Tikijian Represents Seller Who Purchased Mortgage Note and Negotiated Deed in Lieu
Indianapolis–Tikijian Associates participated in the sale of Presidential Estates Apartments, a 255-unit community located on Indianapolis’ far north side. Presidential Estates was listed for $6,750,000, and the sale closed in Ocotber.
MHN Interview with Joe Stanton: NAHB Needs Congress to Work Together
Joe Stanton, senior VP of Government Affairs at the National Association of Home Builders, talks to MHN about the impact that divisiveness in Congress could have on home building.
$77M Mixed-Use Luxury Apartment Project in Baltimore Makes Official Debut
Baltimore–The Fitzgerald, a 275-unit mixed-use residential property in Baltimore, has officially reached completion two years after construction commenced.
Multifamily Development Will See Uptick
Washington, D.C.–NAR has reported that pending home sales dropped in September compared with the previous month, suggesting that the road to higher sales for condos will be a bumpy one.
DEAL OF THE DAY: Deutsche Bank Berkshire Mortgage Provides $161.45M Loan for Acquisition of 11 Properties
Boston–Deutsche Bank Berkshire Mortgage (DBBM) recently provided a fund managed by Eaton Vance Management with a $161,450,000 loan to acquire a pool of 11 multifamily properties located across seven states.
MBA Report: Multifamily Mortgage Originations Continue to Climb in Third Quarter
Washington, D.C.–Year-over-year, quarter-over-quarter, the numbers for commercial and multifamily mortgage loan originations were on the rise, according to figures just released in the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations report.
Wilber School Apartments Wins Twin Distinctions for Green Adaptive Re-Use
Boston–The Wilber School Apartments have received both LEED gold certification under the LEED-for-Homes program, and a J. Timothy Anderson Award (a Timmy) for Best Historic Rehabilitation Involving New Construction.
DEAL OF THE DAY: Beech Street Capital Provides $44.3M Freddie Mac Loan
Langhorne, Pa.–Beech Street Capital LLC provided a $44.3 million Freddie Mac Program Plus loan for the refinance of Middletown Trace Apartments.
MHN Interview with Michelle Whetten: Enterprise Wants to Help Build 10,000 Units in the Gulf
Washington, D.C.–Michelle Whetten, who heads up Enterprise’s work along the Gulf Coast, talks to MHN about the work they are doing there, the financing challenges in building affordable housing projects and the importance of eradicating blight in many communities in the Gulf.
DEAL OF THE DAY: Arbor Closes $13,760,000 Fannie Mae DUS Loan
Robinson, Pa.–Arbor Commercial Funding LLC recently funded a $13,760,000 loan under the Fannie Mae DUS Loan product line for the 291-unit complex known as Westpointe Apartments in Robinson, Pa. The 10-year loan amortizes on a 30-year schedule.