Property Types
TODAY’S DEALS: CBRE Lists Two Luxury Communities Totaling 1,198 Units in Chicago
CBRE lists two luxury Class A assets totaling 1,198 units in Chicago; NorthMarq arranges a $15.1 million mortgage for a community in Lacey, Wash.; and Mortgage Equicap arranges $5 million bridge loan at less than 1.0 DSC.
NAHB Finds Seniors Housing Developers More Keen on Apartments than Condos
Washington, D.C.–The National Association of Home Builders (NAHB) has released its 55+ Housing Market Indices for the second quarter, and the verdict is in: builders of seniors housing feel far more warm and fuzzy about development and demand in the multifamily rental market than sales in the multifamily condominium market.
National Harbor Establishes Brisk Sales Pace in D.C. Area
Washington, D.C.–At The Peterson Cos.’ National Harbor development, more than 100 homes were sold between early 2010 and the first quarter of 2011.
Adaptive Reuse Student Housing Finished in Philly
Philadelphia–The adaptive reuse redevelopment of part of the former Women’s Medical College of Pennsylvania into new student housing at Philadelphia University has been completed.
Two Ribbon Cuttings Cap Affordable Housing Effort in Albany
Albany, N.Y.–On Tuesday, July 12, officials of Omni Housing Development attended a pair of ribbon cuttings marking completion of two different affordable apartment renovations in the Albany area.
Campus Apartments Adds Over 3,000 Beds to Its Property Management Portfolio
Philadelphia–Campus Apartments has expanded its third-party management portfolio in four markets. Recently, Campus Apartments was awarded new contracts to manage student housing portfolios in four different states. In addition to assuming new management accounts of 506 beds in Ann Arbor, Mich., and 756 beds under development in Tucson, Ariz., the company has assumed management of properties in two new markets, with 928 beds in Morgantown, W.Va. and 933 beds in Norfolk, Va. “Our long history of being developers, owners and operators gives us a unique perspective in the industry,” says Miles Orth, executive vice president and chief operating officer of…
TODAY’S DEALS: NorthMarq Arranges $25M Mortgage for Missouri Community
NorthMarq arranges $25 million for a 412-unit community in Missouri; Oak Grove Capital closes a $437.8 million credit facility for Brookdale Senior Living; and the Largo Group of Companies arranges a $4.2 million mortgage for lofts in Buffalo, N.Y.
Related to Preserve, Renovate Affordable Apartment Communities
New York–Keeping families in affordable apartments not only enhances their quality of life, but does a great deal to stabilize neighborhoods. That’s why the recent acquisition, renovation and preservation of the 48-unit New Horizons affordable housing development on West 111th St. in Harlem was cause for rejoicing.
TODAY’S DEALS: Archstone Buys 224-Unit Asset in Marina del Ray
Archstone acquires a 224-unit community in Marina del Ray, Calif.; Marcus & Millichap sells two New England assisted living facilities; and Transwestern negotiates the sale of a $4.3 million portfolio in Phoenix.
TODAY’S DEALS: JLL Closes $253M Sale of 103-Unit Historic Manhattan Apartment
JLL closes the sale of a 103-unit vintage Manhattan luxury building for $253 million; Red Mortgage Capital refinances three loans on Indiana seniors housing communities; and Northmarq arranges a $25 million Freddie Mac mortgage.