News
Economy Watch: Homebuilders’ Optimism Edges Down
Following a four-point uptick last month, builder confidence in the market for newly built single-family homes fell one point in December to 57 on the National Association of Home Builders/Wells Fargo Housing Market Index.
TMS Development Undertakes Drayton Mills Rehab
Work has started on Drayton Mills Loft Apartments, a 289-unit apartment property in Spartanburg.
Prism’s Parkway Lofts 50 Percent Leased, Phase III Now Available
Prism Capital’s Bloomfield, N.J., adaptive reuse development, Parkway Lofts, has surpassed the 50-percent leased mark, and units from Phase III of the redevelopment are now available to renters.
Bristol Housing Authority Executive Director Promoted to CEO
The Bristol Housing Authority has announced that long-time Executive Director Mitzy Rowe has been promoted to chief executive officer.
TODAY’S DEALS: Atlanta is Hot, Boston Capital Knows It
Boston Capital buys 294 units from MTS in a JLL-brokered sale; ARA completes an 80-unit sale in Fort Worth; and NorthMarq arranges a $28.5 million refinancing for a California community.
Luxury Oceanfront Condos Approved by Long Branch Planning Board
The planning board of Long Branch, N.J., has granted approval for South Beach at Long Branch, a luxury oceanfront condominium project to be developed by Montville, N.J.-based FEM Real Estate.
Economy Watch: Oil Continues Precipitous Price Drop
The price of crude oil, which is an international commodity, got another downward push when the energy minister of the UAE said that OPEC isn’t going to reverse its recent decision not to cut oil production, even if oil prices go as low as $40 a barrel.
Manhattan, Brooklyn Residential Markets Will Thrive in ’15
Parts of Manhattan are going to attract a new wave of residential buyers, and despite rising costs, Brooklyn’s going to continue to be a hot residential market, according to a newly release set of predictions about 2015 real estate activity by Voda Bauer Real Estate.
TODAY’S DEALS: 1,651-Unit Portfolio Trades Hands in Michigan’s Largest Transaction for 2014
Marcus & Millichap completes Michigan’s largest sale for 2014; M-M Properties picks up 292 units in Houston; and Berkadia originates a $25 million construction loan for a mid-rise.