Northeast
Freddie Mac Mulls Mezz Lending Plan
Dees Stribling, Contributing Editor McLean, Va.–Freddie Mac is formulating a new program to work with mezzanine lenders to expand the GSE’s multifamily mortgage origination program. According to Freddie Mac spokeswoman Patti Boerger, the details of the program aren’t finalized yet, but probably will be next month. The overall thrust of the program, however, is well defined. “The mezzanine financing would be provided by a third party and we would work with several mezzanine providers for the program,” Boerger tells MHN. “This would be a mezzanine debt solution for the refinancing of over-leveraged apartment properties.” Under the program, a select number…
DEAL OF THE DAY: NorthMarq Capital Arranges $18M Freddie Mac Loan for Manhattan Apartment Building
Craig Bjornsund, senior vice president and managing director of NorthMarq Capital’s (NorthMarq) New York Metro Regional office arranged first mortgage financing in the amount of $18 million for 2161-2169 Broadway (235-241 W. 76th Street) in Manhattan.
New Rental in Manhattan’s Hudson Yards
TF Cornerstone has opened 505W37, a rental project in Manhattan’s Hudson Yards.
MHN Interview with Christopher Feeley: Demographics Are Conducive to Growth of MF
Christopher Feeley, co-founder of Oculus Capital Group talks to MHN about why he
American Properties Realty Announces Tours for Prospective Buyers at N.J. Properties
American Properties Realty said it will conduct “Pot O’ Gold,” weekend home tours
Jersey City’s Trump Plaza Exceeds 50% Sales Mark
The 55-story Trump Plaza Residences in Jersey, City, N.J. has crossed the 50 percent threshold in units sold.
Magellan’s Aqua at Lakeshore East Captures International Skyscraper Design Award
Skyscrapers that show outstanding
Bill Granger Joins CTO of Walker & Dunlop
Bill Granger has joined Walker & Dunlop as chief technology officer in the company’s Bethesda, Md. headquarters. Granger will be responsible for Walker & Dunlop’s information technology infrastructure at a time of significant growth for the company.
Severe Winter Weather Causes Pending Condo Sales to Drop
Pending home sales, including both single-family and condo properties, showed an unexpected decline in January, according to the National Association of Realtors (the organization doesn’t separate the kinds of residential property in this case), partly due to bad weather across the Northeast.
Report: Seniors Housing Occupancy Falls, Rents Rise in 4Q of 2009
Occupancy rates fell for seniors housing in the last quarter of 2009, but the property type still enjoyed moderate rent growth, according to NIC MAP, a data and analysis service of the National Investment Center for the Seniors Housing & Care Industry (NIC).