Avanti Residential to Build Raleigh Affordable Housing Development
The project is the first for the firm’s new affordable housing development arm.
Ram Realty, Pinnacle Launch Luxury Miami High-Rise
The transit-oriented project is scheduled for completion in 2027.
Economy Watch: Fitch Report Optimistic About CRE
In its first annual U.S. Equity REITs Handbook, Fitch expects continued positive property-level fundamentals across most asset classes in 2017. Multifamily should again lead the REIT sector, although same-store net operating income growth will be less than 2016 levels, according to the report.
Economy Watch: Construction Spending Takes a Dip in April
Both private and public construction spending declined for the month, according to the Census Bureau, including in the residential category.
Economy Watch: Job Growth Tepid in May
The U.S. economy saw below-average job growth for the month, adding only 138,000 jobs, the Bureau of Labor Statistics reported. However, segments of the economy that affect commercial space absorption still had reasonably good job creation.
EBSCO Refinances 2 Southeast Properties
The company received $61.6 million from Capital One in Fannie Mae fixed-rate loans to refinance communities in Tennessee and North Carolina.
JV Develops New Apartments in Charleston
Spandrel Development Partners, Aspen Heights Partners and Northwestern Mutual’s 511 Meeting St. will offer 221 apartments, two levels of structured parking and retail at its base.
Economy Watch: Leading Economic Indicators Hint at Late-Year Growth
A 0.3 percent increase in the Conference Board’s Leading Economic Index seems to point to the continual recovery of the U.S. economy, despite weak first-quarter GDP growth.
Rescore Snags $100M for Hollywood Apartments
The community is a 368-unit, seven-story project located in the Hollywood Entertainment District, a Business Improvement District.
Redevelopment of Affordable Housing Begins in Western MA
First Resource Cos. is making extensive renovations at the 173-unit Maple Commons Apartments in downtown Springfield. One improvement includes adding 50 cameras over two city blocks that will be connected directly to the police department.