Economy Watch: Beige Book Strikes More Optimistic Tone
The Fed’s Beige Book paints a positive picture for most districts and the World Bank remains hopeful for continued economic growth.
Economy Watch: Construction Spending Edges Up
U.S. construction spending is at its highest level since March 2009, and unemployment claims decrease for the week ending December 28.
Landmark Apartment Trust of America Buys Two Southern Apartment Properties for $37M
Landmark Apartment Trust of America, a REIT that owns about 16,000 units in various Southern metro areas, has acquired two multifamily properties in two separate deals for a total price of $37 million.
San Diego Investors Buy Riverside Townhomes for $10.5M
Pathfinder Partners has acquired Tuscan Townhomes, a 63-unit townhome project located in Riverside, Calif.
Encore Wins Financing for Next Apartment Project
Encore Multi-Family LLC has closing on the financing for the its next ground-up development project, a garden-style apartment property in the Denver suburb of Thornton.
Hunt Realty Makes Foray into Multifamily Development
Akard Street Partners, an investment partnership operated by Hunt Realty Investments, has formed Trinsic Residential Group to develop multifamily properties in infill and suburban locations, initially focusing on major Texas markets.
Multifamily REITs Looking Forward to Strong 2012
Moody’s Investors Service reports that the future looks good for REITs that specialize in multifamily properties.
Residential Component Likely at Proposed Javits Center Redevelopment
Gov. Andrew Cuomo recently proposed replacing the convention center, opening up its location for redevelopment and the neighborhood of Hell’s Kitchen’s access to the Hudson River.
Judge Says Zell Can Bid on Archstone
Judge James M. Peck of the U.S. bankruptcy court in Manhattan dealt a blow to the effort by Lehman Brothers Holdings Inc. to prevent Barclays and Bank of America from giving Equity Residential Properties an option to buy 26.5 percent of multifamily landlord Archstone.
New Partnership Seeks Value-Add Apartments in Metro Seattle
Trinity Real Estate and Norman Partners have formed a partnership to buy multifamily properties and other kinds of commercial real estate in the Puget Sound region.