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...
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...
Rate Desk April 15, 2020
Rate Desk April 15 edition:
Markets down from yesterday
UST .643 bp
223(f) 2.55-2.72%
221(d)(4) 3.20-3.37%
Fannie 3.21%
Freddie 3.50%
Forbearance:
30 days with two 30 day extensions (90 days total)
No evictions or...
JLL to exclusively market 121 East 37th Street in New York’s Murray Hill
JLL Capital Markets has been retained by PR 121 East 37 LLC to exclusively market and sell 121 East 37th Street in New York’s Murray Hill neighborhood. The 9,124-square-foot residential building includes 11 apartments....
Rate Desk April 14, 2020
Rate desk April 14 edition:
All markets are up
UST .736 bp
223(f) 2.55%
221(d)(4) 3.20%
Fannie 3.25%
Freddie 3.50%
TEB 3.59%
TEL 3.05%
HUD affordable housing segmented LIHTC into two categories: new and...
Interra Realty brokers $2.7 million multifamily sale in Chicago’s Kenwood Neighborhood
Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the sale of 4119 S. Ellis Ave., a 23-unit apartment building in Chicago’s Kenwood neighborhood, for approximately $2.7 million, or $117,391...
NMHC Research Foundation releases new study on apartment filtering
The NMHC Research Foundation released a pioneering new study exploring the impact of the filtering process on apartment housing.
A better understanding of the detailed nature of our housing affordability challenges is more important than...
$34.5 million construction loan arranged by Marcus & Millichap Capital Corporation
Marcus & Millichap, financing subsidiary Marcus & Millichap Capital Corporation (MMCC), has arranged a $34.5 million construction loan for a 48-unit condominium development project in Pasadena, California.
“After completing the first phase of the project, with financing...
Rate Desk April 13, 2020
April 13 edition
Markets down on OPEC deal
UST .731 bp
223(f) 2.76
221(d)(4) 3.41
Fannie 3.32
Freddie 3.50
HUD issued guidance
HUD open for business
Sourcing new construction and refinance debt through mortgage...
