Greystone Bel completes $4 million sale of 105-unit multifamily property in Saginaw, MI
Greystone Bel recently closed the sale of The Poplars Apartments, a 105-unit multifamily property in Saginaw, Michigan for $4,000,000 or $38,095 per unit. Austin Hull of the Greystone Bel Real Estate Advisors investment sales team...
Rate Desk April 20, 2020
April 20 edition S&P and Dow down, Nasdaq up UPDATE! US oil futures plunged below zero UST .634 bp 223(f) 2.65% 221(d)(4) 3.30% Q4 weighted average still under 1% Extended low long-term fixed rates ...
HUD funds COVID-19 related fair housing activities
The U.S. Department of Housing and Urban Development (HUD) announced it is awarding $1.5 million in Partnership and Special Enforcement Effort funds to HUD Fair Housing Assistance Program (FHAP) agencies to support COVID-19 education...
Rate Desk April 17, 2020
Michael Thomas interviews John Hinder, senior director of the nation’s largest GSE multifamily lender, Walker & Dunlop. Hinder discusses the financing landscape for borrowers in these exceptional times.
Two Central California multifamily assets sell for $38.5 million
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of two multifamily properties in Fresno, California. The communities are Boulder...
Survey shows significant delays in apartment construction
The percent of apartment developers reporting construction delays remained essentially the same in the second iteration of the National Multifamily Housing Council’s (NMHC) Construction Survey—56 percent compared to 55 percent in the April 3...
Rate Desk April 16, 2020
April 16 edition S&P and Dow down, Nasdaq up UST .602 223(f) 2.65% 221(d)(4) 3.30% Fannie 3.17% Freddie 3.50% Municipal bonds: Permanent debt instruments Revenue bonds paid back by revenue Publicly rated by rating...
Census reports on multifamily housing construction for March 2020
The Census Bureau released its monthly new residential construction report for March 2020. It presents a mixed picture for multifamily housing construction with some softening of results but from a strong base. Permits are mixed The...
Greystone Bel sells 48-unit multifamily property in Sturgis, MI
Greystone Bel recently closed the sale of Colonial Crest Apartments, a 48-unit multifamily property in Sturgis, Michigan for $1,785,000 or $37,188 per unit. Austin Hull of the Greystone Bel Real Estate Advisors investment sales team...
JLL arranges $58.5 million financing for Bay Area multihousing portfolio
JLL Capital Markets announced that it has arranged $58.5 million in financing to fund the recapitalization of a nine-property multihousing portfolio located in Oakland, California. JLL worked exclusively on behalf of Mosser Capital (Mosser) and...
Marcus & Millichap arranges the sale of an 11-unit apartment building
Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Hayden Villas, an 11-unit apartment property located in Tallahassee, Florida,...
NMHC rent payment tracker – week 2
As part of its project to track rent payments being made during the corona virus shutdown, NMHC reported that an additional 15 percent of renters made at least a partial payment of their April...
Construction material prices stable in March
The Bureau of Labor Statistics (BLS) released its producer price index report for March 2020. It showed that overall prices for processed goods for intermediate demand fell by 1.1 percent, the third monthly drop...
Estimating economic exposure to COVID-19
Two recent studies, one by Yardi Matrix and one by WalletHub, attempt to identify the regions of the country where the local economy is most likely to be impacted in response to the COVID-19...
Westmount Realty Capital acquires River Park, a 27-building multifamily community in Fort Worth
Westmount Realty Capital, LLC announced the acquisition of River Park, a 280-unit, garden-style multifamily community located at 3309 River Park Dr. in southwest Fort Worth. Built in 1985, this well-maintained, 27-building community sits on...
