Business Specialties
Emeritus JV Wraps Up Stayton Portfolio Buy
Emeritus Corp.’s portfolio has just gotten a lot bigger. In a joint venture with Blackstone Real Estate Advisors VI L.P. and Columbia Pacific Advisors, it closed the $1.2 billion acquisition of a 144-property seniors housing portfolio from Stayton SW Living L.L.C., which parted with the assets as part of its Chapter 11 plan of reorganization.
Economy Watch: Fannie Mae Hits Up Uncle Sam Because of 2Q Loss
Fannie Mae returned to the U.S. Treasury on Thursday, hat in hand, asking for $1.5 billion in the wake of its net loss of $3.1 billion, or 55 cents a share, during the second quarter. Essentially, it was asking for its latest dividend back.
Brandywine Snaps Up 1MSF Philly Office in $129M Deal
Three years ago, the entire industry would have scoffed at the idea of acquiring the leasehold interest in a premier 1 million-square-foot Philadelphia office building for a measly $129 million, but Brandywine Realty Trust has succeeded in doing just that.
Senate Approves Increase in FHA Apartment Loans
The U.S. Senate last night passed H.R. 5872, which increases the Federal Housing Administration’s commitment authority for its multi-family insurance programs by $5 billion at a time when applications are at an unprecedented level.
Economy Watch: Firing Level Low, but Hiring Level Not High
Jobs, jobs, jobs. On Tuesday, Chicago-based Challenger, Gray & Christmas Inc. said that job-cut announcements in July rose 6 percent from June. It was the third month in a row that planned firings went up. The heaviest cutters these days are public and nonprofit entities, not private employers.
Yardi Acquires Public Housing Management Software Developer VisualHOMES
This latest acquisition combines the public housing technology expertise of VisualHOMES with Yardi’s browser-based Yardi Voyager PHA solution for subsidized housing.
Saint Index: Americans’ Desire for Certain Neighborhood Developments Grows
Build in my backyard–please! Well, it may not be quite so dramatic, but more and more residents across the country are turning away from NIMBYism (Not in My Back Yard), according to the 2010 Saint Index survey.
Conde Nast May Anchor Ground Zero Skyscraper
When completed three years from now, the skyscraper will be New York’s tallest at 1,776 feet. Should the Conde Nast deal come to pass, the company will likely move from its 800,000 square feet at 4 Times Square in 2014.
U of Maryland Student Housing Project Progresses as Clark Builders Comes Aboard
Development of student housing projects across the country continues at a strong pace, and in College Park, Md., the University of Maryland has selected Arlington, Va.-based Clark Builders Group to handle construction of The Varsity, a mixed-use residential project adjacent to the school’s main entrance.
HFF Secures $160M in Acquisition Financing for DC’s Washington Harbour
HFF senior managing director Bill Asbill and Bob Donhauser as well as managing director Cary Abod secured the five-year, fixed-rate loan with MetLife Real Estate Investments. They worked exclusively on behalf of Rockpoint Group and MRP Realty.