West
Web Feature: In Down Time, What Are MF Developers Doing?
New York–Multifamily starts have hovered in the 100,000 to 142,000-range for all of this year, which isn’t saying anything positive about the multifamily sector.
DEAL OF THE DAY: Marcus & Millichap Helps Meet Borrowers’ Needs in $6.78M Refinances
Canoga Park, Calif. – Marcus & Millichap Capital Corporation (MMCC) has arranged $6,775,000 in loans to refinance two multifamily assets. The properties and loan amounts are: a 44-unit apartment complex in Canoga Park, Calif., for $3,000,000, and a 132-unit multifamily property in Hurst, Texas, for $3,775,000. Sharone Sabar, a director in the firm’s Encino office, arranged the loans.
Court Allows Receiver to Sell Abandoned Arizona Apartment Portfolio for $123M
San Diego–Maricopa County (Ariz.) Superior Court Judge Eileen S. Willett has ruled that San Diego-based Trigild can sell seven Arizona apartment properties that it currently holds in receivership.
DEAL OF THE DAY: George Smith Arranges Interest-Only Financing, Finds Buyer for Borrower
Redlands, Calif.–George Smith Partners arranged $12.8 million in Freddie Mac financing and a $16.6 million sale for a 198-unit, Class B multifamily property in Redlands, Calif., announces David Rifkind and Steve Bram, principals and managing directors of George Smith Partners.
DEAL OF THE DAY: Arbor Locks in 5.95% for 10-Year Terms on Two Small Loans
McKinleyville, Calif. –Arbor Commercial Funding LLC recently oversaw the funding of two loans under the Fannie Mae DUS Small Loan product line.
DEAL OF THE DAY: Arbor Locks in 5.95% for 10-Year Terms on Two Small Loans
McKinleyville, Calif. –Arbor Commercial Funding LLC recently oversaw the funding of two loans under the Fannie Mae DUS Small Loan product line.
DEAL OF THE DAY: Colliers Participates in Sale of Multifamily Property in Calif. for $448,889/Unit
San Clemente, Calif.–Colliers International directed the sale of a three-building, nine-unit apartment complex located at 265 W. Marquita here. The transaction was valued at $4,040,000 or $448,889 per unit.
DEAL OF THE DAY: HFO Announces Sale of Apartment Complex for $17M or $77,273/Unit
Clackamas, Ore.–HFO Investment Real Estate brokered the sale of the Twin Creeks Apartments, a 220-unit apartment complex built in phases starting in 1996 and completed in 1999.
San Francisco’s Condo Market on Upswing Again After June’s Decline
an Francisco–The economic crisis did not bruise San Francisco as badly as certain other major California cities like Los Angeles and San Diego, so its condominium market has not fared as poorly during the downturn.
DEAL OF THE DAY: George Smith Supplies Large, $32M, Construction Loan to Buyer to Complete Multifamily Project
Hollywood, Calif.–George Smith Partners, on behalf of an institutional client, completed a $32 million multifamily construction loan transaction.