Phase 1 of Lofts at Roosevelt Collection Now 70% Leased
-More than 70 percent of Phase One at The Lofts at Roosevelt Collection in Chicago have been leased. The project features 170 units.
Hy-Lite/U S Block Windows Moves Vinyl Extrusion Purchases and Acrylic Block Manufacturing Back to U.S.
Contradicting the industry trend, Hy-Lite/U S Block Windows recently moved all their Hy-Lite vinyl extrusion purchases and acrylic block manufacturing out of China and back into the United States.
Jumping on the Bandwagon, LaSalle Forms Partnership to Capitalize on Discounted Real Estate
As expected, price tags on commercial real estate around the world are dropping and LaSalle Investment Management is among the minority presently in a position to take advantage of bargains, the likes of which may not be seen again in decades. The Chicago-based firm has just formed a fund with the Austin-headquartered
TODAY’S DEALS: Behringer Harvard Acquires NoHo Commons for $96M, and Other Transactions
Behringer Harvard recently acquired The Gallery at NoHo Commons, a 438-unit multifamily community situated on a 5.3-acre site at 5416 N. Fairview Ave., adjacent to the North Hollywood Metro Station in Los Angeles, for approximately $96 million.
Sky View Parc Opens Two-Bedroom Model Apartment, About 30% Units Sold
New York–Muss Development LLC has unveiled its first Sky View Parc model apartment, located in Queens, N.Y. The two-bedroom model at Muss Development’s mixed-use residential and retail development in Flushing is now open to the public. Sky Park View is a two-phase project. The first phase includes three residential buildings that are under construction and it features 448 units, of which 150 are sold. The second phase, for which the start of construction has not yet been scheduled, will bring the total number of units to 1,100. Units at Sky View Parc feature nine-ft. ceilings, large double-paned sound-attenuated windows, stripped…
Kensington’s Ann Arbor Student Housing Community Now Complete; Most Units Leased
The Courtyards Student Apartments, which is owned by Ann Arbor Campus Housing, LLC, an affiliate of Kensington Realty Advisors Inc., recently completed its third and final phase of its 896-bed, off-campus community.
The Global Forecast
If MHN’s global market report was a weather forecast, it might begin with gloomy clouds settling in over most of the multifamily world, with the possible exception of Washington, D.C. and Houston in the United States. The forecast would then call for steadily brightening skies, especially over a number of coastal California cities and high-growth regions in the American South. Sun might also be expected to peek through clouds earlier than later in France, while in China, a downpour of easy credit has for-sale residential prices already on the rise. Longer-term projections would trumpet the imminent arrival of cheerful, sunny…
First Impressions
In the universe of multifamily properties, some apartment communities just stand out from the rest. These are often the properties with great curb appeal, the much sought-after quality known to exert a powerful hold over renters. It is curb appeal that lures new residents, and at the same time makes it difficult for existing ones to depart.
TODAY’S DEALS: Ritz Plaza Receives $151M in Financing, and Other Transactions
By Anuradha Kher, Online News EditorNew York–On behalf of Stonehenge Management, Meridian Capital Group has arranged $151 million in financing for The Ritz Plaza (pictured left), a multifamily property located at 235 West 48th St. in New York City. The Ritz Plaza is a 43-story building featuring 479 luxury rental apartments and 30,000 square feet of retail and office space. The 10-year fixed rate loan has an interest rate of 5.34 percent and features two years of interest only payments. “The timing of the rate lock was precise,” says Abe Hirsch of Meridian. “The borrower was able to take full…
Results of LoopNet Survey Regarding Recovery, Pricing, When Market WIll Hit Bottom
LoopNet, Inc., which operates an online commercial real estate marketplace with more than three million members, recently announced the results of a just-closed “LoopNet Pulse Poll.” More than 2,000 LoopNet members responded to the poll, which was conducted from July 16, 2009, through July 24, 2009. LoopNet members include commercial real estate investors, brokers and owners who use the LoopNet marketplace to search for available space and investment opportunities, as well as to market available properties. Commercial Real Estate Market Recovery Timing?Investor sentiment regarding the timing of a recovery in commercial sales transactions has slipped since our last survey in May. Only…