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THEY SAID IT: 'We feel like it's a great little diamond-in-the-rough property and area.' --Ben Fraser of Aspen Funds, describing the Watercolors of Centerton. THE BIG NUMBER $8.8M That was [...]

Denver--The multi-housing industry saw a lot of activity during the past 12 months. At times, multimillion dollar deals were brokered--including one notable transaction that topped $1 billion--despite the sagging economy. [...]

A AFC REALTY CAPITAL 888 Seventh Avenue Suite 402 New York, NY 10106 212-245-2050 FAX: 212-245-0022 www.afcrealtycapital.com Services include development, investment banking and mortgage banking. AEW CAPITAL MANAGEMENT, L.P. World [...]

Ron Terwilliger is concerned. In his eye, the United States is in the midst of an affordable housing crisis, and the country has yet to show a strong inclination to [...]

The commercial real estate markets are strong in Ohio's three main cities, Cleveland, Columbus, and Cincinnati, thanks to surging institutional and real estate investment trust investment and the cities' strong economic performance. In all three cities, the focus of development is shifting to downtown areas. In Columbus, William Schottenstein and his Arshot Investment Corp have been leading, from the private-sector standpoint, the downtown renaissance., Commercial real estate investment and development continues to expand in Ohio's Three-C markets, taking advantage of the surge of institutional and REIT cash nationally and strong economic performances in Columbus, [...]

The low income housing tax credit market is extremely competitive in 1997 and real estate developers are utilizing tax exempt bonds because they provide tax credits. Multifamily rental housing is utilizing more tax exempt bonds in 1997 than in previous times. Tax exempt bond holders do not pay federal income tax and they do not pay local taxes if the tax exempt bonds are issued by the state of residence., Competition for low-income housing tax credits has affordable housing players turning to tax-exempt bonds to generate tax credits in a less competitive environment. Just a couple of years ago it [...]

Demographic forces in the next 20 to 30 years will spur growth in the multifamily housing sector for the elderly. The number of people over 65 will double in the next 35 years, and 6.6 million people will be 85 or older by 2010. The Northeast, Southeast, and North Central US will be the growth areas, and there will be greater demand for assisted living and skilled nursing facilities. Stable occupancy levels can bring operating margins to the 35%-50% range., After a decade of uncertainty for the fledgling seniors housing industry investors and lenders have begun to discover the virtues of this evolving multifamily sector. As the gold rush in [...]

When it comes to the management of tax-credit housing, ignorance is not bliss. It is dangerous and expensive. Since its creation in 1986, the low-income housing tax-credit program has become [...]

A list of the major sources for apartment project financing and refinancing is presented. The contact persons, branches, major multifamily projects in 1993 and lending objective for 1994 of each company are also provided. The list includes mortgage corps, banks, real estate companies and investment trusts.

Many multifamily market investors are optimistic that the slight surge in the market will continue until the end of the 20th century. Consequently, many investors are considering massive investments in new multifamily building construction. However, studies indicate that uncertainty within the multifamily market will continue, prompting many analysts to encourage careful lending among investors.

The lack of uniformity in the multifamily mortgage market has long been a major drawback to the securitization of these loans. Only 9% of outstanding multifamily mortgages has been securitized [...]

Tishman Speyer and BlackRock Realty Advisors put up $1 billion in cash and borrowed $4.4 billion from lenders to convert Stuyvesant Town and Peter Cooper Village in Manhattan, New York into much higher market rents from its former low-rent apartment status. However, rental income at the two complexes fell to $108 million in 2007 from $112 million in the previous year due to a slow conversion. The fate of the commercial mortgage for the apartments is discussed.

Options exist for multifamily financing Apartment development, long stifled by tax law changes and overbuilding, is coming back as demand for rental units increases. However, the question remains: who will [...]

Developers and owners of multifamily housing are enjoying a strong finance market, with Federal National Mortgage Assn lenders providing a steady flow of financing to the sector. The multifamily housing market is poised to continue growing due to a robust job market and the boom in the affordable housing market.

Chicago -- The AFL-CIO Housing Investment Trust recently announced that, after working closely with PNC Real Estate and Developers Mortgage Corporation, it has provided $32 million of pension capital funding [...]

Developers seeking financing for apartment acquisitions and/or rehabs are faced with a variety of situations depending on the type of financing--senior loan, transitional financing, or gap financing--that is being sought. [...]

Byline: Chris Cumming Mortgage loans on commercial properties rose sharply in the second quarter due largely to investors' heightened interest in apartment buildings. Originations in the commercial and multifamily sector [...]

Multifamily housing loans are on the rise with the advent of secondary market enhancements. Mortgage banks and other banking institutions are combining forces to provide loans underwriting and servicing capabilities for multifamily development projects. Such loans allow banks to diversify their holdings as well as support their public image. Special programs, such as Fannie Mae and Freddie Mac, are offering member banks additional incentives: loan processing, risk sharing, financing and underwriting services., The multifamily housing market has gotten a big boost from the secondary mortgage market agencies. But it's no place for amateurs, and no less a captive of rates than single-family [...]

Byline: Brian Browdie Loans backed by apartment buildings rose by roughly $40 billion last year. Overall, 2,653 different lenders provide $110 billion in new mortgages for residential buildings with five [...]

Byline: Kate Berry Astoria Financial (AF) has already originated more multi-family and commercial real estate loans this year than it did in all of last year its chief executive said [...]

San Francisco -- Red Mortgage Capital LLC provided $70 million in non-recourse FHA-insured construction and permanent financing for a $100 million development being built in downtown San Francisco. Red processed [...]

Pension fund managers are looking closely at an investment prospect which was mostly excluded in institutional portfolios in the 1980s, multifamily housing developments. Investment prospects in multifamily housing can be projected with accuracy by studying demographic trends. The demand for housing is determined by estimated lifestyle changes by the baby boom generation, household formation by the baby bust generation and the increase in non-family households., Because of the close link between population growth and the demand for living accommodations, multifamily housing is predictable from a demand standpoint. With an office and retail glut in most [...]

Santa Cruz, Calif. -- Berkadia Commercial Mortgage LLC originated $11,000,000 in fixed-rate debt through its Freddie Mac program for the refinance of Hidden Creek Apartments in Santa Cruz, Calif. The [...]

Fort Lee, N.J. -- NorthMarq Capital arranged an $8.9 million permanent loan for Hampshire House, a 205-unit luxury co-op. Greg Nalbandian, senior vice president and managing director of NorthMarq's New [...]

Stamford, Conn. -- Alliant Capital LLC executed a $1.6 million refinance of Kedzie Boulevard Apartments, an 18-unit garden-style apartment community, and a $1.1 million refinance of East 42nd Street Apartments, [...]

Santa Ana, Calif. -- David Blum, vice president of NorthMarq Capital's Los Angeles regional office, arranged a $2.824 million first mortgage financing for Ross Manor Apartments, a 36-unit multifamily property [...]

Multifamily sector starts uphill climb The Southeast multifamily market is alive -- but not quite well. One accurate generalization would be that the market is 'holding its own,' but making [...]

Deutsche Bank Berkshire Mortgage said Thursday that it had originated a $150 million Fannie Mae mortgage for Avalon Silicon Valley, a 710-unit apartment community in Sunnyvale, Calif. The fixed-rate loan, [...]

Frank Gehry's controversial scheme for the sea front at Hove has been thrown into doubt because of the credit crunch. Karis, the developer of the #290 million King Alfred scheme [...]

Jack Resnick and Sons has secured a $125 million mortgage for the commercial condo units at Symphony House in Midtown, according to city records. The 44-story property is a luxury [...]

Phoenix -- George Smith Partners Inc. (GSP), a Los Angeles-based real estate investment banking firm, has arranged $17.8 million in acquisition financing for Willow Springs Apartments, a 468-unit complex located [...]

Boston -- Green Park Financial, based in Bethesda, Md., has provided a $7.8-million refinance loan for 829-833 Beacon Street located in Boston. The loan was structured as a 10-year term [...]

Fairfax, Va. -- Green Park Financial, based in Bethesda, Md., has provided a $30-million refinance loan for The Elms at Oakton apartment complex in Fairfax, Va. The Elms at Oakton, [...]

Staff The Board of Regents for the University of Minnesota unanimously approved funding to pay for Centennial Hall, a new, two-story, 84-bed apartment building on the southwestern edge of the [...]

Red Mortgage Capital Inc., a unit of Cleveland's National City Corp., has provided a $25 million loan on a recently built apartment building in its home city of Columbus, Ohio. [...]

Priced Out of a Job? In the latest Wall Street analyst shuffle, Deutsche Bank Securities Inc., the U.S. investment banking operation of the Frankfurt-based banking company, said Wednesday that it [...]

In a shaky economy, it is not surprising to hear real estate bankers say they are underwriting more cautiously. What is surprising is which subset of the commercial property market [...]

Holliday Fenoglio Fowler LP, a mortgage banking firm, said Thursday that its Dallas office has arranged a $7.3 million refinancing on a 103-unit apartment building in Los Angeles. The new [...]

J.P. Morgan Chase & Co. and Fannie Mae say they will guarantee $44 million of debt on a 231-unit middle-income apartment house to be built in Harlem. The New York [...]

Bay Shore-based Astoria Financial Corp., the parent company of Astoria Federal Savings Bank, said its loans for apartment buildings have jumped 46 percent in the first nine month of the [...]

Meridian Capital Group announced the following transactions: * a new mortgage of $9.5 million for three multifamily, six-story, Section-8 buildings on Park Hill Ave. in Staten Island, N.Y. The loan [...]

Andrew Stewart, of David Cronheim Mortgage Corporation, has secured $3.2 million in acquisition and permanent financing for Annapolis Gardens in Atlantic City, N.J. The property is a two-story, garden apartment [...]