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TODAY’S DEALS: Marcus & Millichap Brokers $15.5M Sale of NYC Building
Marcus & Millichap arranges the sale of 974 Saint Nicholas Ave., a six-story elevator building in the up-and-coming Washington Heights neighborhood; and Hunt Mortgage advances a seven-year ARM for a property in a “solid” market.
Providence Investments Purchases 194-Unit Pensacola Apartments
Providence Investments of Birmingham, Ala., has bought Heritage Apartments, a 194-unit multifamily property in Pensacola, Fla.
Waterton Re-Enters Seattle Market with Martha Lake Apartments Purchase
Waterton Associates purchases the 155-unit garden-style apartment community situated about 15 miles from downtown Seattle.
Economy Watch: US Economic Growth Surges in Q3
Real U.S. gross domestic product increased at an annualized rate of 5 percent; single-family home sales fall; and total income increase.
Exurban Orlando Apartments Sell for $14M
Equus Capital Partners Ltd. sold the 224-unit property to Bluerock Partners for $14.3 million.
Security Properties Acquires Affordable Apartments for $13.2M
Security Properties has teamed with Enterprise Community Investment Inc. and the Colorado Springs Housing Authority to acquire Winfield Apartments.
Economy Watch: Existing Home Sales Drop
The National Association of Realtors reported on Monday that total existing-home sales fell in November by 6.1 percent, but the sales level is still up by 2.1 percent from a year ago.
Economy Watch: Housing Starts Edge Down in November
U.S. housing starts came in at an annualized rate of 1.028 million units in November, according to the Census Bureau on Tuesday. That’s 1.6 percent below the revised October total of 1.045 million units and 7 percent below the November 2013 rate.
GDC Properties’ NORA Now Leasing in Orlando
GDC Properties has announced that leasing has started at the company’s new six-story, 246-unit luxury community in downtown Orlando’s North Quarter neighborhood.
Eco-Friendly Amenities: A Practical Approach to a Greener Living
Going green is no longer just a vague urban trend for developers, property owners and managers of apartment buildings. It has become a double responsibility: to develop green projects (or transition existing ones to green) and to tune in to renters’ eco-conscious mind-set by nurturing and educating green communities.