Apartment Look

NEW YORK, NY -  Centerline Capital Group (“Centerline”), a provider of real estate financial and asset management services for affordable and conventional multifamily housing , and a subsidiary of Centerline Holding Company (OTC: CLNH), announced today it has provided a $15. 5 MM Fannie Mae first mortgage to refinance Forest Ridge Apartments in Nashua, New Hampshire. Forest Ridge Apartments , located at 1B Hampshire Drive in Nashua, is a garden style multifamily facility built in tin two phases in 1969 and 1972.  The facility comprises 21 , two- and three-story buildings.  The property consists of a total of 370 units, and the unit mix includes 88 one bedroom-one bath units, 242 two bedroom-one bath units, 24 two bedroom-one bath townhouse units , and 16 three bedroom-two bath townhouse units . The loan is a 10- year fixed rate facility with a 30- year amortization period . The loan will be used to refinance the existing balance on the property.  Centerli...

Mainstreet Equity (OTC:OTC:MEQYF) is an under-the-radar residential apartment owner/operator in Western Canada . Despite a market cap of $325m (all figures Canadian ), it often sees volume of less than 1000 shares a day on the TSX where it trades under the MEQ ticker. The recent investor presentation (July 2017) gives a brief snapshot of the properties Mainstreet controls . It's important to note that Mainstreet is well away from the frothier markets in Canadian real estate , both geographically and in terms of price point. The average apartment it owns is valued at just marginally more than $100k with an average monthly rent of just $864. These are solidly middle class , leaning lower middle class , properties. The company is focused on rolling up what they view as smaller, underperforming buildings, often ones that have fallen into significant disrepair, are being managed by inexperienced and/or unprofessional owners, and giving them a makeover, with some recent examples fr...

PASSAGES FROM HAWTHORNE'S NOTE-BOOKS. C ONCORD, August 5, 1842.—A rainy day,—a rainy day. I am commanded to take pen in hand, and I am therefore banished to the little ten-foot- square apartment misnamed my study; but perhaps the dismalness of the day and the dulness of my solitude will be the prominent characteristics of what I write. And what is there to write about? Happiness has no succession of events, because it is a part of eternity; and we have been living in eternity ever since we came to this old manse. Like Enoch, we seem to have been translated to the other state of being, without having passed through death. Our spirits must have flitted away unconsciously, and we can only perceive that we have cast off our mortal part by the more real and earnest life of our souls. Externally, our Paradise has very much the aspect of a pleasant old domicile on earth. This antique house—for it looks antique, though it was created by Providence expressly for our use, and at the precis...