News: Owners Developers & Managers

Kavanau and Wittmann of HFF arrange $100m on behalf of RREEF

According to the Chicago and Boston offices of Holliday Fenoglio Fowler, L.P. (HFF), they have secured $100 million in financing for a four-property multi-housing portfolio in Massachusetts, Minnesota and Missouri. Working exclusively on behalf of RREEF, HFF senior managing directors Mike Kavanau and Fred Wittmann placed the four loans with Freddie Mac (Federal Home Loan Mortgage Corp.). Three of the loans are part of the Freddie Mac CME program and one is part of the Freddie Mac Capped ARM program. The portfolio totals 1,617 units and has an average occupancy of 95%. Individual property details and loan amounts are listed below: * Jefferson at Dedham Station: Property is located at 1000 Presidents Way, contains 300 units and is 95% occupied. A $31.05 million, fixed-rate loan was placed with a10 year term. * The Gates of Carlson Center is located at 300 Carlson Pwy in Minnetonka, MN. The property contains 435 units and is 92% occupied. A $23.7 million, fixed-rate loan was placed with a 10-year term. * Fountain View on the Plaza is located at 4800 Oak St. in Kansas City Mo. The property contains 396 units and is 96% occupied. A $27.48 million, fixed-rate loan was placed with a seven-year term. * Villages of Bogey Hills is located at 2200 Lake Ct. in Saint Charles, Mo. The property contains 486 units and is 95% occupied. A $17.7 million, floating-rate loan was placed with a term of seven years. HFF operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales and commercial loan servicing.
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Mount Vernon Co. acquires John Carver Inn & Spa in Plymouth, MA

Plymouth, MA The Mount Vernon Company (MVC), a Boston-based real estate and hospitality investment firm, has completed the acquisition of the John Carver Inn & Spa, an 80-room property.
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IREM President’s Message: Fostering community connections during the holiday season

IREM President’s Message: Fostering community connections during the holiday season

The holidays are again taking center stage, and with them comes an opportunity for multifamily communities to connect with the businesses and organizations in their cities and towns, fostering a sense of unity and generosity during this giving season
Recently passed legislation creates opportunities to meet CT’s changing energy needs - by Klein and Feinn

Recently passed legislation creates opportunities to meet CT’s changing energy needs - by Klein and Feinn

For decades, New England has had a summer-peaking power system, where the greatest energy use occurs on the hottest and most humid days, due to widespread use of air conditioning. But by the mid-2030s, electrification of the heating sector likely will result in a winter peak that’s higher than the summer peak.
Selecting the right façade installation firm - by Steven Powell

Selecting the right façade installation firm - by Steven Powell

As the owner of a major new property being developed, or an existing large building preparing for major renovation, you want your design and construction team to have the right experience, capabilities, and expertise to match the project demands. A critical member of this team will be the façade installation specialty firm, since the quality of this installation will impact