Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.
Boston’s Parcel 24 Development to be Called One Greenway
The joint venture development to be sited on Parcel 24 in Boston has been named One Greenway. The New Boston Fund Inc. and the Asian Community Development Corporation (ACDC) made the announcement.
Economy Watch: Pending Home Sales Continue Rising
The National Association of Realtor’s Pending Home Sales Index, a forward-looking indicator based on residential contract signings, but not closings, increased 6.7 percent to 112.3 in May from 105.2 in April.
Seniors Housing Development Nears Completion in Metro Cleveland
Work is nearly complete on Emeritus at Newell Creek, a seniors housing property in Mentor, Ohio.
Historic Parisian Hotel Reopens as Starwood Hotels Continues to Unveil Restored Properties in Luxury Collection Brand
A massive renovation of one of the city’s most intriguing hospitality properties was recently re-opened.
TODAY’S DEALS: NorthMarq Arranges $32M for California Construction
NorthMarq arranges construction financing for a JV development; Korman Communities sells a 124-unit community with help from HFF; and Crescent Communities buys two acres for a TOD development in Orlando.
Economy Watch: First Quarter GDP Revised Downward
Real gross domestic product increased at an annualized rate of 1.8 percent in the first quarter of 2013, according to the third and final estimate by the Bureau of Economic Analysis.
K2 Reports Leasing Surge
Another bit of evidence (if any is needed) that the demand for apartments is still brisk in Chicago: K2, a new 496-unit apartment tower in Chicago’s Near West Side, has managed to ink 125 leases in the two-and-a-half months since leasing started, according to co-developer Fifield Cos.
MBA: Independent Mortgage Banker Profits Decrease in the First Quarter as Volumes Decline
Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $1,772 on each loan they originated in the first quarter of 2013, down from $2,256 per loan in the fourth quarter of 2012, as production volume declined, the Mortgage Bankers Association reported.
Austin’s Elan Apartment Homes Captures Top Award
Elan Apartment Homes, a 270-unit northwest Austin, Texas, community acquired by Crossbeam Concierge in December 2011, has been named a “Property of the Year” by the Austin Apartment Association.
Mixed-Income Apartments Open in Boston
The first phase of Charlesview Residences, a 340-unit development in Boston’s Allston-Brighton neighborhood, has opened.