Northeast
DEAL OF THE DAY: Beech Street Capital Provides $28.4M Refinance for Two Manhattan High Rises
Beech Street Capital LLC provided $28.4 million in permanent financing for the refinance of two multifamily properties in New York.
Red Stone Partners Launches $250M Fund to Purchase MF Affordable Housing Bonds
New York–Red Stone Partners has just established a new $250 million investment fund for the acquisition of fixed rate tax-exempt multifamily housing bonds.
US Green Building Council to Study LEED-Certified Building Performance
Washington, D.C.–Applying for and winning LEED certification is one thing, but what happens during the long life of a building afterward?
Web Feature: How MF Communities Can Tap into Water Savings
New York–If efficient management techniques are applied to water consumed in multifamily buildings, the impact can be very powerful.
Financial Reform Law Includes Another $1B for Neighborhood Stabilization Program
Washington, D.C.–The Neighborhood Stabilization Program has received a fresh infusion of $1 billion with the signing of the Restoring American Financial Stability Act of 2010 into law this week.
Organization Says Banks Backing Away from NYC Affordable Housing
New York–New York’s banks are shirking their responsibilities under the Community Reinvestment Act of 1977 (CRA)
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.