Here are the latest architect’s renderings of our Surf City apartment project, Bishop Creek Apartments. The six residential buildings are all 3 story garden style walk-ups with breezeways, as illustrated. Be sure to see our latest update on this project here.
Browsing Posts tagged apartments
According to the latest issue of Multifamily Executive magazine, the multi-family market is being buoyed by loans from Freddie, Fannie, and HUD-backed FHA loans. The bad news is that for buyers or developers unwilling or unable to get financing from these sources, there’s virtually no other alternative right now. Although rumors are starting to circulate [...]
Our group recently received a loan commitment from Evanston Financial for just over $10M to cover the construction and long term financing for our 132-unit apartment development. Evanston, an affiliate of Oppenheimer, will package the loan as MAP lender for HUD under the 221(d)4 New Construction Program. The interest rate is currently at 6.0%, plus [...]
Hessam Nadji, managing director of research at real estate brokerage Marcus & Millichap, believes that now is a great time to invest in apartments, especially older ones. According to Nadji, during a recession people often choose older units with fewer amenities. The echo boomer generation is just beginning to move out on their own, and [...]
