Current issue -
Subscribers only
|
|
|
|
|
Volume 3 - Number 16 | August 23, 2005
 |
TOP STORY: Six-Property South Florida Condo Portfolio Trades For $300M
By Sule Aygoren Carranza
In the hothouse condo market of South Florida, a six-property portfolio totaling 1,513 units in three cities has traded to Miami-based condominium conversion firm Prestige Builders Partners for $300.3 million. The seller was Minto Builders of Coconut Creek, FL, and the deal was brokered by Apartment Realty Advisors's Boca Raton, FL office. In an interesting twist, the assets were originally built as condominiums but came to market as rentals, according to ARA principal Marc deBaptiste.
|
|
INSIDER: National Low-Income Housing Coalition's Sheila Crowley
By John Salustri
It's a phenomenon of sorts that for years various associations have dedicated themselves to ending the affordable housing crisis, and the crisis just keeps on growing. The latest setback for those whose mission it is to house the low-income population came toward the end of July.
|
 |
Arbor Inks $125-Million DMBS Credit Facility
By Sule Aygoren Carranza
Arbor Commercial Mortgage LLC has orchestrated a $125 million discounted mortgage-backed security credit facility for Aspen Square Management Inc., which will use the funds to finance multifamily and student housing properties. The company will initially use the cross-collateralized facility to refinance eight assets totaling 1,583 units in California, Oregon, Rhode Island and Texas for more than $79.7 million. The deal comes amid signs that as today's competitive climate has increased the importance of efficient execution, products such as the DMBS credit facility have gained in favor among real estate investors.
|
|
|
|
|
|
|
|
|
