Rate Desk Wednesday, June 17, 2020
June 17, 2020 edition of Yield PRO TV Rate Desk with Michael Thomas. Trapped equity in debt service reserves and MF designs of the future.
Rate Desk notes June 17, 2020
Indices up
Crude $37.77
...
Multifamily housing construction up in May
The Census Bureau released its monthly new residential construction report for May 2020. It shows the start of a rebound in multifamily housing construction.
Permits pick up
The number of permits issued for buildings with 5...
Gebroe-Hammer Associates records $25.35 million sale of 99 multifamily units at Hamilton House in...
Gebroe-Hammer Associates has finalized yet another pandemic-era multifamily transaction with the $25.35M sale of Hamilton House in Weehawken, a 99-unit prominent fixture within the township’s highly desirable Town Center/Downtown District. The brokerage team of...
Rate Desk Tuesday, June 16, 2020
June 16, 2020 edition of Yield PRO TV Rate Desk with Michael Thomas. Missing amenities: Owner and renter frustrations with amenities during the shelter in place.
Rate Desk notes June 16, 2020
Indices up
Crude...
14-unit multifamily building trades for record price per SF during safer-at-home order
Transwestern Real Estate Services (TRS) announces it has brokered the sale of 453 S. Gramercy Place, a newly renovated, 14-unit multifamily building in the Koreatown submarket of Los Angeles. Managing Directors Josh Kaplan and...
HUD awards nearly $40 million in housing counseling grants
The U.S. Department of Housing and Urban Development (HUD) awarded nearly $40 million in housing counseling grants to help over one million individuals and families access HUD-approved housing counseling to help them avoid foreclosure...
Mid-June rent payments reported strong
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 89.0 percent of apartment households made a full or partial rent payment by June 13 in its survey of 11.4 million units of professionally...
Landlords sue to end state’s eviction ban
Two landlords filed a lawsuit challenging California courts’ refusal to hear eviction proceedings. In its response to the COVID-19 pandemic, the agency that oversees California’s courts declared that courts would not consider eviction cases...
Interra Realty brokers $2.27 million multifamily sale in Chicago’s Woodlawn neighborhood
Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the $2.27 million sale of 6126-28 S. Woodlawn Ave., a 35-unit apartment building near the University of Chicago Law School in...
NAHB safety handbook primes builders on newly-released OSHA regulations
In the residential construction industry, a safe work environment and well-written, up-to-date program isn't optional, it's legally essential. Not only does it keep employees healthy and safe, but it can stave off huge losses including everything from...
U.S. economic growth expectations largely unchanged as lockdown restrictions ease
Despite substantial revisions to the components constituting real GDP, headline growth expectations on a quarterly and full-year basis were only slightly changed compared to last month, according to the latest commentary from the Fannie...
National Multifamily Housing Council and InterFace to co-host 2020 student housing conference
The National Multifamily Housing Council (NMHC) and France Media, publisher of Student Housing Business and parent company of the InterFace Conference Group, are pleased to announce that in light of the unparalleled disruptions caused...
Rate Desk will be back Monday
Michael Thomas is remote this week gathering more insights to share. Stay tuned, we'll be back on Monday, June 15.
MassHousing closes on $25.2 million in financing for new, mixed-income and workforce housing community...
MassHousing has closed on a total of $25.2 million in affordable housing financing to WinnCompanies for the development of 125 new rental homes in downtown Lowell. The MassHousing financing will allow WinnCompanies to advance the redevelopment of Lowell’s Hamilton Canal Innovation District, while creating new housing for households...
Stepp Commercial completes $12.8 million acquisition of a 173-unit apartment property in Phoenix
Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed $12.8 million acquisition of Ocotillo Apartments, a 173-unit apartment community located at 1780 West Missouri Avenue in Phoenix, Ariz. A...
