HUD sued over new down payment assistance rules for FHA mortgages

Federal Housing Administration | April 24, 2019

HUD sued over new down payment assistance rules for FHA mortgages
Last week, the Department of Housing and Urban Development announced it was issuing new rules for down payment assistance on mortgages backed by the Federal Housing Administration. According to HUD and the FHA, the new rules were meant to provide clarity around what documentation would be required for borrowers who are using funds from another person or entity to cover part of the FHA’s minimum down payment requirement of 3.5%.

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Beautiful home with a bright open concept floor plan in Lone Tree! This home is located on a quiet street with views of the rolling hills. Thevaulted ceilings and amount of windows allow for gorgeous natural light.**Brand New Carpet** Hardwood floors throughout the main level. Theupdated kitchen, new hardware and ample cabinet space.

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Real Estate Brokerage Torii Announces Release of "Swiper" Search for Home Buying

Torii | July 13, 2020

Torii, Inc., a technology company and real estate brokerage serving the Greater Boston area and the San Francisco Bay Area, today announced the newest release of its popular "swiper" technology in its app (free on iOS and Android) and on web. Torii's real estate listings search allows prospective home buyers to discover houses like no other real estate service, letting users swipe right to "favorite" a house listing and swipe left to "block" a listing (or remove it from search results). Users of popular dating apps will feel at home with the swiping feature. According to recent research from the National Association of Realtors, the majority of home buyers find the home they will purchase online or via an app, and say that finding the right property is the most difficult part of the buying process. With Torii, after swiping through listings, buyers will begin to see more recommended properties based on their interests, saving them valuable time.

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REAL ESTATE TECHNOLOGY

KKR is expanding its Southern California real estate industrial portfolio with the acquisition of New San Diego

businesswire | January 06, 2021

KKR, a main worldwide venture firm, today reported the obtaining of Three Piper Ranch, a mechanical dispersion property comprising of two structures adding up to around 330,000 square feet in San Diego, California. The property extends KKR's mechanical land impression in Southern California to roughly 2.4 million square feet. The recently procured property was implicit 2007 and highlights 32' clear statures. It is situated in the Otay Mesa submarket of San Diego with phenomenal admittance to SR-125, SR-905, I-805 and I-5. The property was 100% rented at procurement to five separate occupants. KKR bought the property from Zurich Alternative Asset Management, LLC and CBRE Capital Markets assisted with facilitating the deal. “We are excited to supplement our footprint in Southern California with the addition of this high quality asset,” said Ben Brudney, a Director in the Real Estate group at KKR. “We continue to like the long-term supply demand fundamentals in San Diego.” KKR is making the speculation through its Real Estate Partners Americas II Fund. Across its assets, KKR possesses almost 32 million square feet of modern property in essential areas across significant metropolitan zones in the U.S. Since dispatching a committed land stage in 2011, KKR has developed land resources under administration to roughly $14 billion across the U.S., Europe and Asia as of September 30, 2020. The worldwide land group comprises of more than 90 devoted speculation experts, spreading over both the value and credit organizations. About KKR KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds.

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REAL ESTATE INVESTMENT

Capital Square 1031 Acquires Recently Constructed Multifamily Community Near Kansas City for DST Offering

Capital Square | January 21, 2022

Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of a Class A, 237-unit multifamily community in Olathe, a city within the Kansas City metropolitan area. The community was acquired on behalf of CS1031 Villas at Ridgeview Falls Apartments, DST. Villas at Ridgeview Falls is the next in the line of highly-amenitized, newly constructed, Class A apartment communities acquired by Capital Square for the 1031/DST program, Capital Square was drawn to the location of this property – Olathe, the seat of Johnson County, 20 miles southwest of Kansas City, where the economy is strong, with 4.4% job growth and a 3.5% unemployment rate as of September 2021.1 The property should provide investors with stable income during the holding period and exceptional appreciation potential." Louis Rogers founder and chief executive officer of Capital Square. Located at 11835 S. Fellows St., the community is located in the southwest corner of the Kansas City, MO-KS Metropolitan Statistical Area. The property's location near major highways and interstates provides residents with convenient access to Kansas City employment centers. Additionally, Villas at Ridgeview Falls is located within walking distance of many convenience and grocery stores, as well as dining options. Completed in 2020, the community offers spacious one- and two-bedroom units with top-of-the-line finishes and an average square footage of 1,046 square feet. Amenities at the community include a resort-style saltwater pool, an in-pool tanning deck, a poolside television and lounge, poolside pergola, lounge area with a fireplace, rooftop retreat, golf green, yoga area, walking trail with outdoor fitness equipment and 24-hour fitness center with a yoga studio. Additional amenities include an indoor mail room, a media room, gourmet coffee and tea bar, cybercafé, social lounge, guest suite, garages and carports as well as a pet spa. CS1031 Villas at Ridgeview Falls Apartments, DST seeks to raise $35.2 million in equity from accredited investors and has a minimum investment requirement of $50,000. The proximity to grocery stores and dining options, as well as Kansas City employment centers, coupled with its top-of-the-line features, make this community an ideal investment property for our growing portfolio of multifamily properties, The submarket has ideal fundamentals that match exceptionally well with Capital Square's multifamily acquisition criteria. For example, the population within a five-mile radius of the property is projected to increase 4.4% in five years and the average annual rent growth in the submarket is projected to grow 3.78% from 2021 to 2026." Whitson Huffman, chief strategy and investment officer. Capital Square acquired the property from J.A. Murphy Group, which was represented by Colliers' Will Mathews. It's an honor to represent our friends and clients at J.A. Murphy Group on a landmark sale in fast-growing Olathe, Kansas, Congratulations and many thanks to the buyer, Capital Square, on their continued success and dedication to a seamless year-end close!" Mathews. Since its founding in 2012, Capital Square has acquired 146 real estate assets for over 3,800 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation. About Capital Square Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Since 2012, Capital Square has completed more than $4.2 billion in transaction volume. Capital Square's executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for five consecutive years. Additionally, in 2021, the company was ranked 101st on the list of Inc. 5000 Washington D.C. Metro's Fastest-Growing Private Companies. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and 2021 as well as on their "Fantastic 50" reports in 2019 and 2020.

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Spotlight

Beautiful home with a bright open concept floor plan in Lone Tree! This home is located on a quiet street with views of the rolling hills. Thevaulted ceilings and amount of windows allow for gorgeous natural light.**Brand New Carpet** Hardwood floors throughout the main level. Theupdated kitchen, new hardware and ample cabinet space.