Long Island City Condos Sell Out in Less Than Year
The Bindery, a condo development by NY Lions Group and Craig Axelrod at 47-34 11th St. in the Long Island City submarket of Queens, has completely sold out.
Novare, Batson-Cook and Grubb Proceed on Charlotte’s SkyHouse Uptown
A partnership is moving forward with a 24-story luxury tower in Charlotte’s Fourth Ward neighborhood. The asset is the 11th developed under the SkyHouse brand.
Most Active Residential REITs
This month, MHN offers an index of the Most Active Residential REITs. We used this opportunity to examine the growth of these publicly traded firms.
TODAY’S DEALS: Grubb Properties Sells a Charlotte Mid-Rise
A Charlotte mid-rise trades for $31.2 million; Oak Grove Capital closes $17.9 million for three affordable acquisitions/rehabs; and BMC capital provides a $930,000 five-year bank loan.
Simplify Your Mailroom with a High-Tech Package Locker Designed Specifically for Apartments
Package Concierge is a full service, highly secure, 24/7 package locker designed with the e-commerce generation in mind. The system also works as a marketing tool and can generate ancillary income.
Ascend Developing Apartments at Vacant Florida Trailer Park
Ascend Properties details a $32 million plan to redevelop a vacant trailer park in Wilton Manors, Fla., into a 173-unit community. The asset will fit into the local TOD corridor, and will include traffic calming measures.
Crowdfunding for LA Apartments Completed
Realty Mogul completes crowdfunding for the acquisition of a group of multifamily properties in Los Angeles. The buildings total 141 apartment units in the Baldwin Hills neighborhood.
Economy Watch: Personal Income Expands and Construction Spending Rises
Personal income increased 0.3 percent in January compared with December. Construction spending edged up by 0.1 percent in January as well. Wall Street took a dive on Monday, with investors apparently nervous about the situation in Crimea.
TODAY’S DEALS: Home Properties Completes Major D.C. Disposition
Home Properties sells a 864-unit asset outside of D.C.; and Dougherty Mortgage closes a 35-year refinance loan for a Minnesota Section 8 property.
LGBT-Friendly Affordable Seniors Community Opens in Philly
Pennrose Properties and dmhFund have opened John C. Anderson Apartments, the first LBGT-friendly affordable seniors housing community in Philadelphia, to great fanfare.