Development
SPECIAL REPORT: PREI Raises Concerns that Real Estate Valuations Could be Based on Quantitative Easing Worldwide
Prudential Real Estate Investors said that commercial real estate prices are on the rise worldwide as economies rebound internationally, but expressed concern that loose monetary policy could be driving property valuations.
KRE Group, Ironstate NJ City Development Fully Leased
The Marketing Directors have announced that the lease-up at Kushner Real Estate Group and Ironstate Development’s new luxury building in Jersey City, N.J., has set a city leasing record after inking more than 100 leases at the 422-unit community, 18 Park, within about four weeks of its initial lease-up campaign.
TODAY’S DEALS: Queens Development Site Sells for $10.2M
Marcus & Millichap brokers the sale of a development site in Flushing, N.Y.; NorthMarq secures $11.6 million for student housing serving Virginia Commonwealth University; and IPA arranges a $26 million sale in Greater Phoenix.
Related Midwest’s 500 Lake Shore Drives Certified LEED Gold
Related Midwest has announced that its 47-story luxury apartment tower 500 Lake Shore Drive has earned the United States Green Building Council’s LEED Gold Certification for its efforts in sustainable design and construction.
TODAY’S DEALS: Balfour Beatty, Texas A&M Close $104M for 1,274-Bed Development
Balfour Beatty and Texas A&M kick off a public-private partnership development; Virtú Investments buys 112 units in Colorado; and Eastern Consolidated markets a development site in Long Island City, N.Y.
Stone Veneer Offers New Inspiration for Multifamily Developers
Stone is a key design element that breaks up the monolithic look while also minimizing mass.
Lash Group Plans to Locate New, 250,000-Sq.-Ft., Headquarters in Charlotte Metro
AmerisourceBergen Corporation subsidiary Lash Group, Inc. has announced plans to develop a new national headquarters to accommodate rapid growth and consolidate operations currently divided into several locations.
MBK Rental Living Breaks Ground on Upscale San Diego Community
MBK Rental Living has announced that it has broken ground on its first project, Ocean Air Apartment Homes at Torrey Hills, in the northern San Diego neighborhood of Torrey Hills. The high-end community will include 100 for-lease townhomes and flats on a 4.6 acre parcel.
Implementing a Community Services Program Boosts the Bottom Line
Case studies have shown an 8 percent reduction in vacancy loss after a residents program is put in place.
Northridge Apartments Nearly Leased Up
The 402-unit Terrena mixed-used property, which is in the Northridge district of L.A., has nearly leased its multifamily component. The community consists of a mix of studio and one- and two-bedroom units, as well as about 14,000 square feet of retail space.