Construction Maison

NEW YORK, Aug. 15, 2017 (GLOBE NEWSWIRE) -- Greystone, a real estate lending , investment and advisory company, today announced it has provided a $26.65 million Fannie Mae DUS ® loan in combination with $5.35 million in preferred equity from New York Mortgage Trust , Inc., for the acquisition of Autumn Park, a 358- unit multifamily property in Newark, Delaware. The transaction was originated by Keith Hires of Greystone’s Atlanta office with Ryan Ade and Neil Campbell of HFF as correspondents on the deal. The Fannie Mae DUS loan includes a 7 / 6 adjustable rate at 3 years of interest-only and a 30-year amortization. Autumn Park is a garden- style community comprising 1 -, 2-, and 3-bedroom apartments with a pool, located within easy access to I-95 and downtown amenities. During the underwriting process of the loan for Autumn Park, Greystone overcame a number of unique environmental challenges , including issues with an unprecedented number of underground storage tanks . Greystone wo...

NEW YORK, NY -  Centerline Capital Group (“Centerline”), a provider of real estate financial and asset management services for affordable and conventional multifamily housing , and a subsidiary of Centerline Holding Company (OTC: CLNH), announced today it has provided an $11. 4 MM Fannie Mae DUS Choice refinancing for the Woodchase Apartments in St. Louis, Missouri. Woodchase Apartments is a garden style multifamily facility that was built in 1984 and comprises 17 two- and three- story residential buildings , and one single-story office/clubhouse.  The property consists of a total of 186 units, and the unit mix is made up of 92 one-bedroom and 48 two- bedroom apartments , and 18 one-bedroom and 28 two- bedroom townhome units .  The loan is a 10- year fixed rate facility with a 30- year amortization period . The portfolio was refinanced to secure a new low interest rate . Centerline is one of the nation’s leading Mortgage Banking institutions in the multif...

The kind folks at the Orange County chapter of the Building Industry Association were nice enough to invite me to join a recent panel on local housing market conditions . I decided an early- morning seminar required a quick start, so I offered the audience of industry insiders and local elected officials a “pop quiz” on some housing supply and affordability trends. The theme to my questions was that decades of rising housing costs aren ’t as out of line with monetary sanity as one might think. That reality check doesn ’t make it any financially less challenging to live here, but I think it does give policymakers some leeway when seeking cures to local housing hurdles . So here are my 10 questions that say a lot of about limited affordable housing options . #1: Relative value? Q: In past 30 years, Orange County home prices have increased five-fold while inflation has just doubled. Not a shabby return for owners. But, how did the Dow Jones industrial average do, better or worse? A...

Capital One Multifamily Finance provided a $9. 3 million Fannie Mae fixed -rate loan to refinance Lakecrest Apartments , a 225- unit apartment complex in Greenville, South Carolina. Meridian Capital Managing Director Jacob Katz , Senior Managing Director Abe Hirsch , and Managing Director Zev Karpel originated the transaction.  The borrower was PRG Real Estate Management , a repeat Capital One and Fannie Mae client .   PRG owns and manages more than 11,000 apartment homes in over 40 communities.  It purchased Lakecrest in 2006 and has subsequently renovated nearly 200 units, replacing floors and modernizing kitchens and bathrooms, as well as replacing the roofs of six of the community’s residential 22 buildings. The refinancing will allow PRG to continue this program until all apartments are renovated and roofs replaced.   “We were pleased that PRG again chose Meridian and Capital One for its refinancing needs,” Katz said. “The firm’s principals, Steven Berger, Jon Goodman, and S...

Greystone, a real estate lending , investment and advisory company, provided a $26. 65 million Fannie Mae DUS loan in combination with $5.35 million in preferred equity from New York Mortgage Trust , Inc., for the acquisition of Autumn Park, a 358- unit multifamily property in Glasgow. The transaction was originated by Keith Hires of Greystone’s Atlanta office with Ryan Ade and Neil Campbell of HFF as correspondents on the deal. Autumn Park is a garden- style community comprising 1 -, 2-, and 3- bedroom apartments with a pool south of Newark and near Interstate 95. Autumn Park apartment site near Glasgow sold for $35.5 million Advertisement During the underwriting process of the loan for Autumn Park, Greystone overcame a number of environmental challenges, including issues with a number of underground storage tanks . Greystone worked with the State of Delaware Department of Natural Resources and Environmental Control to resolve the issue. The loan presented other complex underwrit...

SUSAN EDMUNDS Last updated 05:00, August 25 2017 123RF Buyers may find credit conditions are quite different to what they were when they first signed a contract to buy an apartment. Lending restrictions could make it tougher for developers to sell newly-built apartments. Sources say bankers are increasingly worried about "settlement risk" to developers – the risk that people who have bought properties off-plans, with the intention of settling when the development is complete, will now not be able to do so. Data from Colliers shows that a record number of apartments are due to be completed over the coming years. There are 2770 set to come on to the market in Auckland alone this year, the highest number since 2005. MARTIN DE RUYTER/STUFF Apartment buildings are being built around the country but the exuberance of a year ago has left the market, in many places. Another 3840 should be finished next year. READ MORE: * Real estate agent fined $5000 for not revealing apartment blo...

STAMFORD, CT - UC Funds has originated a $28 million first mortgage under its new Low Floater Program , to refinance the Park Square West Apartments in downtown Stamford, CT.  UC Funds' nationwide Low Floater Program is a fast, flexible and reliable capital solution with more than $1 billion in available capital for direct lending. Park Square West is a 143-unit Class A multi- family housing development that affords tenants a prime location with an easy Metro North commute to Manhattan. Built in 2001, the property features more than 10, 000 square feet of ground retail space , a state of the art fitness center and brand new sushi restaurant. "We are very excited to roll out our new 1st Mortgage Low Floater transitional loan product with the Park Square West Apartments , in the heart of downtown Stamford," said Daniel Palmier, CEO of UC Funds. "With leverage levels up to 85% and pricing starting at L+373 we project more than a billion dollars per year in t...

Friday 18 August 2017 Article by Ben Tosi Professional opinions are divided over the future of Melbourne™s highly sought-after apartment market after a number of economists offered up their growth predictions for the next 12 months. The median apartment price in Melbourne grew by over $20,000 in the year leading up to June 2017, but there is very little consensus over apartment prices for the next 12 months. Real estate publisher , Domain, asked five economists how they thought Melbourne™s property market would react to record growth over the past year, with three economists expecting prices to fall by as much as 5% but two agreeing that prices will continue to grow at a rate of 5-10%. AMP Capital chief economist Shane Oliver told Domain that APRA™s tightening regulations on interest-only loans would result in a drop in investment activity bringing apartment prices down. œThis, along with a surge in the supply of units, will likely result in falls in unit prices and a slo...

Northridge Court Apartments in Cleburne, Texas" width="300" height="240" /> Northridge Court Apartments in Cleburne, Texas Dougherty Mortgage recently completed an $819, 000 Fannie Mae supplemental loan , on behalf of 101 Westcourt LLC , for Northridge Court Apartments in Cleburne, Texas. Arranged through a partnership with Old Capital Lending and Dougherty’s Minneapolis and Vienna, Va., offices, the 7.25- year term loan has a 30- year amortization schedule . Located at 101 Westcourt Drive, the 86- unit asset features one- and two bedroom apartments and 170 parking spots. According to real estate data provider Yardi Matrix , Darcorp Cos. acquired the 12-building community in 2014 for $3.2 million and signed a 10- year term Fannie Mae loan for $2.4 million. Rents at  North Ridge Court start at a monthly $766 and go up to $801 as of March, when the asset was 96.5 percent occupied. Earlier this month, Dougherty Mortgage , on behalf of Legacy REI Group ...

Perryman Construction Management is building the 30-unit multi- family Hayspur development in Nampa. Photo courtesy of Mountain Peak Marketing " width="300" height="169" /> Perryman Construction Management is building the 30-unit multi- family Hayspur development in Nampa, shown here. Photo courtesy of Mountain Peak Marketing Apartment projects are going up across the Treasure Valley from Boise to Meridian to Nampa and to the next frontier in multi- family housing , Kuna. Some 2, 700 apartment units are in various stages of construction among those cities. Some are recently completed and some are being built in phases.  That is a stark contrast to the near zero multi- family construction in 2010 in metro Boise. Multi- family housing has evolved in the 21 st century, largely moving away from large buildings with hundreds of units. Locally, many developers have settled for the common denominator of sets of fourplexes with the occasional six-, eight- ...