Northeast
DEAL OF THE DAY: Walker & Dunlop Closes on $20.21M Acquisition Loan at 78% LTV
Walker & Dunlop arranged a $20,208,000 acquisition loan for Spring House Apartments located in Laurel, Md. The loan was structured with a 10-year term and a 30-year amortization. The loan was underwritten to a 78.3 percent loan-to-value ratio with a 1.24 debt-service coverage.
TCOs Issued for W Residences Amid Changing Manhattan Condo Market
New York–The residential portion of the mixed-use W New York-Downtown Hotel & Residences takes a step forward.
Multifamily Housing Starts Dip in June
Washington, D.C.–The ever-volatile rate of multifamily starts was down in June.
Justice Department Files Fair Housing Suit Against Washington State Apartments
Washington, D.C.–The U.S. Department of Justice has filed a suit against the owner, management company and former on-site manager of Summerhill Place Apartments.
Phase II of $22M South End Revitalization Projects Begins
Albany, N.Y.–Construction on the second phase of the $22 million South End Neighborhood revitalization project in Albany has now started.
DEAL OF THE DAY: Colony Capital, The Cogsville Group Invest in 1,600 Commercial Real Estate Loans Held by FDIC
Colony Capital LLC and The Cogsville Group LLC have closed on the purchase from the Federal Deposit Insurance Corp. (FDIC) of a $1.8 billion portfolio of more than 1,600 commercial real estate loans acquired by the FDIC as receiver of 21 failed financial institutions.
Web Feature: Are You Marketing to All Prospects in the Melting Pot?
New York–The renters of tomorrow look very different but the industry isn’t exactly doing..
REIT CEO Compensation, Including Multifamily, Grew in 2009
New York–REIT CEO bonuses saw shifts to cash and equity percentages.
Search for Apartments on the iPad-There’s an App For It
Norfolk, Va.–The application mimics a realistic apartment search experience for prospective renters.
Park Slope Condos Go For New LEED Midrise Certification
New York–After acquiring a teardown on Dean Street, Trident decided that its six-unit condo project would serve as a pilot for green design in future developments.