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.
PCCP and Ohio Public Employees Retirement System Form New Venture To Originate Senior Commercial Mortgages
San Francisco–PCCP, LLC and the Ohio Public Employees Retirement System have teamed up to form a new venture that will originate first mortgages.
Redwood City, Calif.–Those in the business of education do not earn sky-high salaries, so the availability of market-rate housing, particularly in high-price residential markets, is a key concern.
Bellevue, Wash.–Three months after taking on her new role, she speaks to MHN about issues ranging from her new responsibilities and goals to the current state of the financing in the multifamily market.
MHN Interview with Joel Kelly: Bank-Owned REO Properties Are Bulk of Transaction Activity in East Bay
Joel Kelly, president of BAA, talks to MHN about the how the group got started and what their goals are.
Pomona, Calif.–Investor and developer Raintree Partners has acquired a portfolio of three multifamily properties.
DEAL OF THE DAY: Hendricks & Partners Negotiates Sale of Active-Adult Mixed-Use Apartments for $18.75M
Hendricks & Partners participated in the sale of FountainGlen at The Villa, located at 4000 South El Camino Real in San Mateo, Calif. The 135-unit mixed-use senior apartment and retail community was sold for $18,750,000.
Santa Clara, Calif.–Walker & Dunlop provided a $35,700,000 long-term loan for Bella Vista Apartments.
Santa Ana, Calif.–Urban Housing Communities LLC (UHC) will construct The Crossings at Big Bear Lake, a 42-unit affordable housing community.
Pittsburg, Calif – Arbor Commercial Funding LLC recently funded a $1.5 million loan under the Fannie Mae DUS Small Loan product line.