News
TODAY’S DEALS: Vornado Refinances Massive D.C. Asset
Vornado completes a $308 million refinance; Lowe Enterprises and First Capital Advisors acquire Silk Factory Lofts; and Greysteel arranges a 120-unit sale in Texas.
Crescent Communities Introducing Luxury Apartment Living to Tampa’s Westshore Business District
Ground has broken for a new 374-unit luxury apartment community on 5.3 acres in Tampa’s Westshore area.
Largest SoCal Multifamily Acquisition Since 2013 Complete
Boston-based Intercontinental Real Estate Corporation and San Diego-based MG Properties Group have announced their acquisition of a 768-unit apartment community in Anaheim, the Madison Park Apartments.
Economy Watch: Middling Employment Numbers Might Keep Interest Rates Low Longer
The March employment numbers surprised on the downside, but oddly enough that could be a positive for the commercial real estate industry for a while.
Data for the C-Suite
Like others at the NMHC OpTech conference, J Turner Research’s Joseph Batdorf reports that the apartment industry is grappling with the quantity of data now available. C-Suite executives, in particular, will be looking to use data to drive more accurate benchmarking in a range of areas including, but not limited to, operations.
TODAY’S DEALS: JRK Finds Value in Rhode Island
CBRE/New England brokers a 243-unit Rhode Island sale; Beachwold grabs a Connecticut community from TGM Associates; and an apartment property in San Mateo, Calif. sells for $386,154 per unit.
660-Bed South Carolina Student Housing Community Breaks Ground
Peak Campus Development has started construction on a 218-unit, 660-bed student housing property in Columbia, S.C.
Dolben Company Announces Director of Development
The Dolben Company Inc., a full-service Boston-based real estate company announced that John O’Connor has been promoted to the role of director of development – New England.
Oakwood Worldwide Acquires Luxurious Redwood City Apartments for Global Portfolio
Oakwood Worldwide added a 141-unit apartment community in Redwood City, Calif., to its global portfolio through its $4 billion partnership with Singapore-based Mapletree Group.
Economy Watch: Employment Growth Hits a Bump
The economy wheezed a little in March, not producing as many jobs as expected, and fewer than at any time in the last six months or so.