Multifamily

TEMPE, AZ-Interwest Capital and Angelo, Gordon & Co. pay $46 million to servicer Petra Capital Management. The new owners plan upgrades to the tune of $5,000 per unit.

CHICAGO-Equity Residential is entitled to receive $150 million in breakup and termination fees if the deal closes, an amount it may have to return if it ends up buying Archstone anyway.

PHOENIX-Fresh from a 10-year stint at Inland Real Estate in Chicago, Patrick O'Meara is ready to build up debt and equity financing in Phoenix and to encourage capital investment across all CRE sectors.

NEW YORK CITY-In 1965, a plan to redevelop the Seward Park Urban Renewal Site was put forth. Now public review has begun for a project that could mean 1.65 million square feet of mixed-use space.

WASHINGTON, DC-Congress wants FASB to slow down and consider the potential fall out from the lease accounting convergence proposal.

SACRAMENTO-L Street Lofts, a mixed-use, fractured condominium project, sells with just 10 units being leased for $2.50 per square foot, the highest rental rate in the midtown area.

WASHINGTON, DC-Panelists at the upcoming RealShare Washington, DC will discuss what is driving development in the area, the changing nature of office supply and demand, and the outlook of investment sales here.

MIAMI—Blanca Commercial Real Estate's Danet Linares tells GlobeSt.com's Jennifer LeClaire mass transit is Miami’s Achilles heel right now.

CHICAGO-The former large housing project has finally been fully demolished, and this next building will include mixed-income housing and a medical office.

CHICAGO-The Chicago Plan Commission is set to consider a proposed plan for an apartment project at the northwest corner of Halsted Street and Bradley Place in Wrigleyville.

BUFFALO-A 102-room Staybridge Inn will be part of a $15-million mixed-use project proposed on the Amherst campus of the University at Buffalo.

WEST SACRAMENTO, CA-Along with an almost 5,000-unit apartment portfolio, former Lehman partner LCOR also brings development abilities to the locally based investment giant.

BETHESDA, MD-The merger of the Reznick Group and J.H. Cohn will create an organization with a larger public presence, allowing for a greater focus on REITs, David Kessler tells GlobeSt.com's Erika Morphy.

ELMWOOD PARK, NJ-Demand surge for rentals will counteract impact of 2,400 new units coming online.

FLAGSTAFF, AZ-The Phoenix investor ends up with 102 multifamily units from the original 204 converted into condo units during the mid-2000s.

MIAMI—Benworth Capital's Bernie Navarro tells GlobeSt.com's Jennifer LeClaire he is seeing an uptick in loan volume and the loan amounts.

MIAMI-The AREA-CC joint venture is developing two multifamily projects: The Signature at Doral and The Signature at Davie.

WASHINGTON, DC-Despite home sales rising, there's still good news for multifamily investors, NAR's Lawrence Yun tells GlobeSt.com's Erika Morphy. Household formation is strong enough to support both trends.

WASHINGTON, DC-It’s not the 200,000 plus monthly jobs seen at the beginning of the year, but is it enough of an increase to drop vacancies?

LOS ANGELES-The Vermont is the largest residential development to be built in L.A. since the beginning of the latest real estate downturn.