News
Economy Watch: Real Estate’s Part of the GDP
After releasing the 30,000-foot view of U.S. economic growth for each quarter, the Bureau of Economic Analysis releases a load of detail the next day, which in this case was Thursday. The underlying details include real estate data that breaks down total spending on most property types, as a percentage of GDP.
Meta Housing Corp. Presents Its First Family Arts Colony
Meta Housing Corp. finalized its first “family arts colony” apartment project in the San Pedro, Calif., neighborhood.
Related Acquired Massive Midwest Portfolio, Plans Rehab
The Related Companies’ Related Affordable and Related Midwest divisions have acquired more than 1,500 units in Chicago. The deal is part of a larger number of acquisitions in the Midwest that Related has completed recently, involving 17 properties in four states totaling 3,062 affordable housing units.
TODAY’S DEALS: Waypoint Grabs Waterfront Apartments in Newport Beach
IPA brokers a $25.5 million sale in Newport Beach, Calif.; Lee & Associates arranges a 32-unit asset in Los Angeles; and Berkadia negotiates the financing and sale of a multifamily property in Greater Phoenix.
Will Rising Rents Affect Millennials?
Top industry professionals at the 2015 NMHC Spring Board Meeting discuss whether rapidly growing rents will drive millennials to home ownership.
Aviva Investors Buys BBC Worldwide HQ for $103M
Aviva Investors has acquired the first phase of the Television Centre redevelopment, a 94,000-square-foot office building located in White City, London.
The Student Hotel Acquires Two Student Residence Properties in Barcelona from BBVA
JLL recently advised BBVA in the process of selling two student housing properties in the Catalan capital. The Spanish banking group sold the two properties, Melon District Marina and Melon District Poble-sec, to The Student Hotel, an entity that also owns properties in Amsterdam, Rotterdam, Liège and The Hague.
Perkins + Will Completes New Shanghai Natural History Museum
Global architecture firm Perkins + Will has finalized work on Shanghai’s new 479,180-square-foot Natural History Museum.
New York City’s Housing Plan Outpaces Goals
New York City Mayor Bill de Blasio’s housing plan to create 200,000 units of affordable housing in 10 years is exceeding targets.
Bringing Resort Amenities to Condo Living
Vertical construction has begun on East Edgewater’s newest luxury condominium, Biscayne Beach, a 51-story, 399-unit waterfront tower located at 711 NE 29th St., along Biscayne Bay in Florida.