Northeast
DEAL OF THE DAY: HFF brokers $70.1M Sale of Washington, D.C. Property to Home Properties
Fairfax, Va.–The Washington, D.C. office of HFF (Holliday Fenoglio Fowler L.P.) closed the sale of The Courts at Fair Oaks, a 364-unit, luxury multi-housing community in Fairfax, Va., known prior to the sale as The Point at Fairfax.
Lenders Still Lending for Apartments, But at Much Lower Volume
Washington, D.C.–The Mortgage Bankers Association reports that aggregate lending for financing apartment properties nationwide shrank about 40 percent in 2009 compared with 2008.
Web Feature: Best Ways to Close Leases
New York–A signed lease is a thing to be treasured. For property managers and owners, it is the fruit of a laborious and long development and marketing process.
$238M Mixed-Use Residential Project Takes a Big Step Forward in Baltimore
Baltimore–A master plan conceived six years ago for a 100-acre site in southwest Baltimore is well on the way to becoming a reality now that ground has broken on the mixed-use residential project.
DEAL OF THE DAY: Arbor Closes $4.56M Fannie Mae 3Max Loan to Rent-Controlled Property
Bronx, N.Y.–Arbor Commercial Funding LLC recently funded a $4,560,000 loan under the Fannie Mae 3Max product line for the 60-unit complex known as 655 East 233rd Street Apartments in Bronx, NY.
Newark Residential Redevelopment Plan Bearing Fruit
Newark, N.J.–Developers in Newark, N.J., are on the verge of completing the first redeveloped residential properties in a larger plan to rehabilitate part of Newark’s West Ward.
Investor Buys New Jersey Apartments for $24M, Plans Redevelopment
New York–Phoenix Realty Group (PRG) has bought 548 distressed rental units for $24.2 million in East Orange, N.J.
Property Tours: Dixon Mills
Kristin Hurd, director of sales at The Residences at Dixon Mills, takes MHN on a tour of the property located at 158 Wayne Street in Jersey City, New Jersey.
$100M Suburban Washington, D.C. TOD on the Road to Realization
Washington, D.C.–While the national apartment market took a nosedive, the market in Silver Spring, Md., held its own, and now a new $100 million project has gotten underway to accommodate increasing demand.
Pending Homes Sales Up Slightly, Condos May Not Benefit
Washington, D.C.–Since the expiration of the federal home sales tax credit earlier this year, sales of all kinds of residential property have been near catatonic.