Multi-family
Huge SF Apartment Complex in Default
The San Francisco Chronicle is reporting that the owner of the city’s 116-acre Parkmerced apartment complex is expected to announce that the loan on the property has fallen into default.
Saywitz Promotes Roberts to Director of Leasing
Throughout his seven-year tenure at Saywitz, Roberts has worked in various capacities relating to leasing and tenant relations for the firm’s multifamily portfolio throughout Orange County.
In Public-Private Partnership, Balfour Beatty Kicks Off $123M Student Housing Project in Boca Raton
Newtown Square, Pa.-based Balfour Beatty Campus Solutions L.L.C. has broken ground on the $123 million Innovation Village Apartments at Florida Atlantic University in Boca Raton, Fla.
$159M in Financing Arranged for $417M Military Housing Project in Alaska
The Alaska Housing Finance Corp. (AHFC) has just agreed to provide $159.4 million in financing to help facilitate a military housing upgrade project at Fort Wainwright and Fort Greely in Alaska.
Apartment Realty Advisors Oversees $43M Orlando Sale
Atlanta-based real estate advisory service firm Apartment Realty Advisors said Monday that it has represented an institutional fund advised by Prudential Real Estate Advisors in the $43.3 million sale of The Estates at Park Avenue in Orlando.
Prudential Kicks Off New Loan Program for M-F Property Owners
Endeavoring to help bridge the financing gap for multifamily property owners who do not meet the requirements for Fannie Mae or Freddie Mac permanent loans, Newark, N.J.-based Prudential Mortgage Capital Company has created the Agency Gateway program. The new vehicle will provide short-term loans for refinancing and acquiring multifamily assets.
Equity Snaps up $167M Luxury D.C. Property
In another example of commercial real estate companies taking advantage of distressed-asset availability, Equity Residential has purchased a luxury Washington, D.C. apartment property in an all-cash $167 million transaction.
Multi-Housing Capital Advisors Arranges $113M Texas Deal
The $113 million sale of four Class A apartment community properties in Texas has been handled by Multi-Housing Capital Advisors, Inc.
Prudential, Johnson Capital Form Multi-Family Partnership
Prudential Mortgage Capital Co. has long wanted to add Freddie Mac Program Plus capabilities to its quiver. A new strategic partnership with Johnson Capital makes that possible.
CWCapital Expands West Coast Presence
CWCapital’s new Los Angeles office represents a big step for the Boston-based lender to the multi-family and healthcare real estate industries, which set its sights on creating a strong West Coast multi-family lending presence a couple of years ago and entered the market last July.