Apr 16, 2012 2:04 PM, By Beth Mattson-Teig, Contributing Writer
While the bulk of the real estate industry spent much of 2011 focused on shoring up weak fundamentals, the seniors housing sector quietly posted near record sales numbers, according to a research study conducted by NREI and Seniors Housing Investment Advisors.
The majority of respondents have a positive outlook for the sector in the coming year with more than half of all respondents, 64 percent, expecting an increase in acquisition/transaction activity and 63 percent anticipating an increase in the availability of… [Full Article]
Apr 10, 2012 6:11 PM, By Betsy Kraat, Contributor
NEW YORK CITY—NCB, FSB (NCB), a federally insured savings bank and a leading lender to cooperative housing throughout the Tri-State area, arranged $72 million in new financing activity during March for 25 New York area properties.
NCB, FSB senior vice president Sheldon Gartenstein originated over $17 million in new loans during March, including a $7.4 million first mortgage for Hudson View Gardens Inc., a 353-unit co-op located at 116 Pinehurst Avenue in Manhattan; a $2.5 million first mortgage and a $500,000 line of credit for a 55-unit co-op located at 157 West 79th Street in Manhattan; and a $2 million… [Full Article]
We consider real estate to be in the early phase of a cyclical recovery. After a hiring slump in mid-2011, the job market has begun to show signs of strength, as the unemployment rate continued declining in the first quarter of 2012.
Real estate investment performance continues to display favorable conditions, a result of historically low borrowing rates and a modest inflationary outlook. [Full Article]