CBRE Secures $47M in Construction Financing for MF North of Seattle – Connect CRE

CBRE has arranged $47 million of construction financing for Motto Apartments, a 228-unit multifamily project being developed by Intracorp Homes in Marysville, Washington. CBRE’s James Bach, Connor Lemley, Regina Wang and Griffin Walker secured the construction to permanent, seven-year fixed, full-term interest-only financing on behalf of their client, Intracorp. The CBRE team requested construction loan […]

Lender Pullback Hits Healthcare Real Estate As Office Woes Spread – Bisnow

Office has become a four-letter word for many real estate lenders, and that sentiment is now bleeding into the healthcare sector.  The sector has seen demand remain relatively stable in the wake of the pandemic, but the presence of office space within many healthcare properties is creating concern among some lenders who want to reduce their exposure to […]

Why have Washington eviction cases doubled in the past six months? – Crosscut

A search for solutions More eviction filings after a historic drop in rent assistance should perhaps not be all that surprising, said Ted Kelleher, housing assistance program manager for the state Department of Commerce. State lawmakers created an ongoing rent-assistance program in 2021 that is expected to distribute about $30 million per year, but that […]

Jeff Bezos is moving from Seattle to Miami—and he could take some of Amazon with him – Fortune

Amazon and its founder-turned-executive-chairman, Jeff Bezos, both look set for new ventures in Miami. Bezos—the world’s second richest person, according to Bloomberg’s Billionaires Index—announced earlier this month that he was planning to move back to Miami, where his parents live and he spent his high school years. Bezos stepped down as Amazon CEO in 2021, […]

Look inside Bradley Beal’s former Bethesda mansion sold for $9.25M – NBC4 Washington

After being traded to the Phoenix Suns, former Washington Wizards shooting guard Bradley Beal has sold his Bethesda, Maryland mansion. The multimillion dollar mansion was built in 2016 and features six bedrooms, nine-and-a-half bathrooms, an arcade and two basketball courts.  The property is over 13,000 square feet and is designed with a Miami contemporary chic […]

Washington Heights Apartment Building Trades for $10M – Connect CRE

An 11-story, pre-war apartment building in Washington Heights has been sold for $10.2 million.   Located at 788 Riverside Dr, the 80,678 square feet building houses 62 apartments, mainly comprised of rent-stabilized and rent-controlled units, alongside some free-market units. With average unit sizes of approximately 1,025 square feet, the property features predominantly two- and three-bedroom […]

Seattle City Council Rejects Transformation Impact Fee – Connect CRE

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman […]

States grapple with racist language in real estate deeds – Eagle-Tribune

#inform-video-player-1 .inform-embed { margin-top: 10px; margin-bottom: 20px; } #inform-video-player-2 .inform-embed { margin-top: 10px; margin-bottom: 20px; } Lisa Boccetti is horrified by the restrictive covenant that is in the deed to her 1950s ranch house in Raleigh, North Carolina: It states that the land cannot be sold or occupied by Black people. The property “shall not […]

Mortgage Rates Decrease for Third Consecutive Week in U.S. – The World Property Journal

Email Sign Up For Our Free Weekly Newsletter Based on Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 7.29 percent. This week’s results include an adjustment for the observance of Thanksgiving. Sam Khater “Mortgage rates continued to decrease heading into the Thanksgiving holiday,” said Sam Khater, Freddie Mac’s Chief Economist. […]

Resurrected D.C. checkers club thrives, with trash talk and gratitude … – The Washington Post

It was a foregone conclusion that Robert “Z Man” Mackey would trounce Bryant “Buster” McClain in checkers on a recent Thursday night. The fundamental uncertainty at the Capital Pool Checkers club in Northwest Washington would instead concern matters of honor and psychology: Who would win the game of trash talk? “I’ll take it, you give […]

Analysis | Where in America are we actually building new housing? – The Washington Post

Shouldn’t the United States really be building more housing? Home prices keep skyrocketing, even though the Federal Reserve has hiked interest rates repeatedly. The average monthly mortgage payment has soared from around $1,853 two years ago to $2,951 today, according to a Redfin analysis of newly purchased homes. Economics usually offers a pretty easy solution […]

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