Business Specialties
TODAY’S DEALS: NorthMarq Arranges $23.25M Life Insurance Company Loan with Advance Rate Lock
NorthMarq Capital brokers first mortgage refinancing of $23.25 million for Woodlake Apartments in Gurnee, Ill.; and Los Angeles County apartment complex changes hands at $9.9 million.
TODAY’S DEALS: HFF Arranges $33.05M Sale on Behalf of Prime Residential
HFF announced that it has brokered the sale of The Artisan, a 434-unit, garden-style community in Denver; and Alliant Capital closes on a $1.2 million refinance.
BDG Architects and Urban Studio Architects Join Forces to Create New Design Firm
The firm’s name will be BDG Architects and the corporate headquarters office will be in Tampa. Chris Kirschner AIA, NCARB, LEED AP will be the president of the firm.
Related Midwest Opens Dog Friendly Apartment Building in Chicago
Related Midwest has opened 500 Lake Shore Drive, a luxury apartment building in Chicago’s Streeterville neighborhood, which caters to dog owners and their pets. Residents can utilize the building’s Dog City, Related Midwest’s on-site pet care service that offers everything from dog walking and pet sitting to grooming services, routine vet visits and pet training.
TODAY’S DEALS: Large Texas Apartment Community Trade Hands
Marcus & Millichap completes a 720-unit sale; Centerline provides a $1.1 million refinance for an affordable asset in Mississippi; and Berkeley Point Capital facilitates $12.5 million for an acquisition.
APARTMENT MARKET STATISTICS: August 2013
Apartment prices continue to increase. According to PPR/Costar, price per unit of apartments in the first quarter was $147,257—increasing from $110,380 in the fourth quarter.
‘What Renters Want’ with Jessica Fiur: Stop Giving Cutesy Gifts to New Residents
Welcome gifts are great, but you’ll get a better response from practical items than from ‘cute’ ones.
Auction.com Research Looks at Impact of Unemployment Rates
Based on the most recent July 2013 Bureau of Labor Statistics Report, Auction.com Research is predicting a slowdown in real estate for the second half of the year.
Builder Confidence in the 55+ Housing Market Shows Significant Improvement in Second Quarter
Builder confidence in the 55+ housing market for single-family homes showed strong continued improvement in the second quarter of 2013 compared to the same period a year ago, according to the National Association of Home Builders’ (NAHB) latest 55+ Housing Market Index (HMI).
Economy Watch: Real Estate Investment Still Low
The Bureau of Economic Analysis released some of the underlying details of last week’s preliminary GDP report, including information about real estate investment trends, by measuring such investments as a percentage of GDP.