News
4 Developments Coming to Suburban NY
The developers announcing the Mount Vernon, N.Y., projects include The Alexander Group/Bluestone, Direct Investment Development, Enclave Equities and Simone Development Cos. The initiative aligns with the state’s new $2.5 billion housing package aimed at attracting investment in market-rate housing statewide.
Greystone Refinances Dallas’ Largest Apartment Community
Greystone’s Rob Meehan originated the CMBS loan, which includes a 10-year fixed term at a low rate. Vineyards at Forest Edge is 95.2 percent occupied.
NMHC, NAA: US Needs 5M New Apartments by 2030
According to a new joint study, apartment supply is not keeping up with demand caused by delayed marriages, an aging population and international immigration.
Economy Watch: Closings Loom for Fashion Retailer
More than 250 stores will close by 2019 and another 400 closings could follow unless landlords grant rent relief, says the owner of such fashion brands as Ann Taylor, Dressbarn and Maurices.
Kiser Group Promotes John Meyer to Senior Director
He has been with Kiser Group for more than eight years, having joined the company as managing director. His responsibilities cover the apartment middle market in the Chicago area.
South FL Community Trades in $27M Deal
Cushman & Wakefield’s team worked on behalf of the seller, a joint venture between Eastwind Development and Index Apartments, in the 1031 exchange of the asset.
Dasmen Residential Buys 2 AL Communities
The Embassy Group has sold two Birmingham properties, the 276-unit Madison at Shoal Run and and Mountain Lodge, which comprises 254 units.
Allied Orion Expands Denver Management Portfolio
The Arel Capital-owned 141-unit property is the seventh residential asset to join The Collective Glendale, a 793-unit portfolio located near Infinity Park.
Security Properties Expands Its Seattle Portfolio
Together with Intercontinental, the company purchased the five-story building located near Seattle’s Central Business District. The average rental rate was $1,493 as of May.
Greystone Provides $60M HUD Loan for NY Skilled Nursing Facility
The firm also secured a bridge-to-HUD loan to finance Kennedy Management’s acquisition, rebranding and renovation of the 302-bed asset in 2015.