Rate Desk April 8, 2020
April 8 edition DJIA up—23K UST .74 bp Congress to add $250 billion to PPP SBA program FHA rates- 223(f) 2.59% 221(d)(4) 3.60% GSE’s flat today, reaching normal Fannie 3.36% Freddie 3.44% Document financial...
Universe Holdings acquires three-property multifamily portfolio in Granada Hills for $25.5 million
Universe Holdings has acquired a 122-unit multifamily portfolio in Granada Hills, CA for $25.5 million. The purchase of the 56-unit Boardwalk and Park Place Apartments, the 38-unit Devonshire Apartments and the 28-unit Granada Pine Apartments...
Franklin Street brokers $21 million sale of Northridge Apartments in Saint Petersburg, Florida
Franklin Street brokered the sale of the Northridge Apartments, a 203- unit rental community located in the city of Saint Petersburg, Florida. Franklin Street’s Tampa multifamily team, Kevin Kelleher, Darron Kattan and Zach Ames represented the...
WinnCompanies appoints Terri Benskin as chief operating officer of WinnResidential
WinnCompanies has appointed Executive Vice President Terri Benskin as chief operating officer of its property management arm, WinnResidential, as part of the company’s plan to reinforce operational excellence while continuing its progress on strategic...
Study shows April rent payments delayed
A study by the National Multifamily Housing Council (NMHC) using data provided by 5 leading property management software (PMS) providers found a 12-percentage point decrease in the share of apartment households that paid April...
Rate Desk April 7, 2020
April 7 edition DJIA up 22,789 V-shaped recovery possible Stocks on track for 2-day win US Treasury opened at .77 FHA 223(f) tightened 2.57% FHA 221(d)(4) still 3.30% Fannie 3.36% Freddie 3.44% Freddie requires...
Apartment industry calls on Congress to provide additional support to residents, rental owners and...
The National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) appreciate Congress and the Administration’s quick action on the Coronavirus Aid, and Economic Security Act, (CARES Act). While many of its provisions...
Central Coast California multifamily asset sells for $25.25 million
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Del Sol Apartments, a three-parcel, 121-unit apartment community in Seaside,...
Aspen’s largest apartment complex trades hands in Colorado
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Centennial Aspen Apartments, a 149-unit, three-story multifamily property in Aspen, Colorado....
Rate Desk April 6, 2020
April 6 edition Stocks were up and erased last week’s declines 10 year US treasury at 68 bp HUD/FHA 223(f) acquisition and refinancing rates at 2.60% HUD/FHA 221(d)(4) New construction and sub rehab rates:...
Interra Realty brokers $4.05 million off-market sale of apartment building in Chicago’s Lakeview Neighborhood
Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the off-market sale of 1478-80 W. Byron St., a 16-unit apartment building in Chicago’s Lakeview neighborhood, for $4.05 million, or...
Mesa West Capital originates $33.5 million loan for acquisition of Austin, Texas apartment community
Mesa West Capital has provided Austin, TX-based real estate investment firm Wildhorn Capital with $33.5 million in short-term, first mortgage debt for the acquisition of a 284-unit multifamily community in Austin, TX. The five-year, floating...
Rate Desk April 3, 2020
April 3 edition HUD FHA rates at 2.80 for 223F New construction at 3.50 (40 year fixed) 10 year US treasury at 59 bp HUD requiring reporting of impacts of C-19 HUD and agency...
Greater Los Angeles multifamily asset sold by Institutional Property Advisors
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of South Hills Apartments, an 85-unit apartment property in West Covina, California. The $31.95 million sales price equates to $375,882 per...
NMHC Multifamily Construction Survey explores impact of COVID-19 on the industry
The National Multifamily Housing Council (NMHC) today released a new survey on multifamily construction that found more than half (55 percent) of respondents said that they are currently experiencing construction delays in the jurisdictions...
