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An Arizona court of equity has cleared the way for a 3,000-unit, seven-property apartment portfolio previously operated by the Bethany Group to be sold out of receivership, says Bill Hoffman, president and founder of San Diego, Calif.-based Trigild, the corporation that was appointed receiver of...
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Why special servicers are ending up with CMBS assets, and what it could do to the multifamily industry.
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Borrowers Finding Servicers More Amenable to Payoffs
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Underwriting a distressed note purchase is nothing like underwriting a conventional deal. Understanding bankruptcy and foreclosure laws are paramount, but the toughest thing of all may be determing the borrower's motives.
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Investors large and small discuss the opportunites to buy a loan for pennies on the dollar, and either collect the remaining balance or foreclose and own the asset.
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Multifamily Developers Struggle With Land Values in Nascent Stages of Market Recovery
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On Tuesday, Delaware's Bankruptcy Court cleared the way for Toronto-based Brookfield Asset Management to provide an equity injection to San Diego-based Fairfield Residential by approving the company’s plan of reorganization.
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In some markets, such as New York and Washington, D.C., transactions have picked up noticeably this year and cap rates are falling. But in other markets, there are still a lot of distressed assets trading. In fact, some markets are seeing more distressed assets trade than conventional ones.
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A handful of seemingly left-for-dead apartment and condo communities are being resurrected in some of the nation’s most overbuilt markets, indicating glimmers of hope for the multifamily sector.
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David Lynd doesn’t think multi-disciplinary, stand-out industry performers are necessarily new to multifamily—and definitely not new to the Lynd Co.