Multifamily Sales Decrease in 1Q12, But Average Price Increases

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Apr 17, 2012 12:29 PM, Staff Reports

Preliminary first quarter 2012 multifamily property sales data indicate that transaction velocity decelerated from the rapid pace observed during the fourth quarter of 2011.

After recording more than 360 U.S. apartment sales valued at $10 million or more during the fourth quarter of 2011, total sales closed during January, February and March probably declined by one-third or more. The average price of a unit traded in the first quarter of 2012, increased, however, rising 5 percent from $122,400 in the fourth quarter of 2011 to $128,600 during… [FULL ARTICLE]

Seniors Housing Pros Expect More Access to Capital, Increasing Construction Starts

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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]

NCB, FSB Reports $72 Million in New Financing Activity

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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]