2,580-Unit Multifamily Portfolio Trades for $460M
In a joint venture, Pantzer Properties and Dune Real Estate Partners have acquired the eight-community Magazine Portfolio in metropolitan Washington, D.C. for $460 million.
Economy Watch: Quake’s Economic Impact Hard to Gauge
In the wake of the tragedy in Japan, the Bank of Japan pumps money into the country’s financial system; inflation is on consumer’s minds; and the SEC has issued the former head of Fannie Mac a Wells Notice.
WEB FEATURE: Is a Call Center Right for Your Management Team?
Call centers–both built around automated systems and live staff–are designed to deliver sales leads, improved marketing and operational efficiency. But they may not be for everyone.
HUD Awards LISC $19M to Bolster Nonprofits
New York–The U.S. Department of Housing and Urban Development has awarded the Local Initiatives Support Corporation (LISC) a $19.3 million Section 4 capacity-building grant to help community-based nonprofits lead affordable housing and economic development efforts in low-income communities.
PODCAST: Economy Watch Weekly with Dees Stribling
For the week ending March 11, retail spending was up, partly due to the payroll tax cut and partly due to increased borrowing. A quarter of residential mortgages are underwater; state attorneys general are attempting to revise foreclosure practices; and we wait to see if the price of oil will derail the recovery.
Economy Watch: Foreclosures Down For Now
Foreclosures dipped in February; state unemployment rates were generally unchanged in January; and home prices are trending downward.
Zillow Expands Zestimates to Include Rentals
eattle–Zillow has launched “Rent Zestimates,” a tool that can be used as a starting point for determining a home or apartment’s estimated monthly rent price, expanding on Zillow’s Zestimate home valuations.
Economy Watch: Hong Kong Boasts Top RE Billionaires
On Forbes’ list of billionaires, Hong Kong boasts the top real estate developers; the House votes on bills to do away with housing and development programs, even though the bills won’t pass the Senate; and oil still muddies the financial picture.
$70M HUD Loan Moves Mixed-Use TOD Forward in Northern Virginia
Ashburn, Va.–Financing is in place for The Residences at Loudoun Station, a mixed-use project marking the first phase of a 3.8 million square-foot transit-oriented development.
Jamboree Awarded Grant for Special Needs Services
Irvine, Calif.–Jamboree Housing Corporation received a $15,000 grant as part of CSH’s Assuring Quality Initiative to assist residents living with permanent mental illness and to help end homelessness.