News
Safra Group Pays More Than $1B for The Gherkin in London
The Safra Group, an international network of companies led by Brazilian billionaire Joseph Safra, recently announced the purchase of 30 St. Mary Axe in London, also known as The Gherkin due to its unusual shape.
Insight Property Group Development in Northern Va. Ready For Occupancy
Insight Property Group’s new development, The Shelby, a mid-rise luxury community comprised of 240 residences in Alexandria, Va., has opened for leasing.
JW Marriott Launches 115-Room Luxury Resort in India
JW Marriott Hotels & Resorts announced the opening of JW Marriott Mussoorie Walnut Grove Resort & Spa.
Economy Watch: EIA Predicts Lower Oil Prices in ’15
The Energy Information Agency is predicting lower oil prices next year, which on the whole would be a positive for the U.S. economy, though the agency also stresses the uncertainty involved in predicting prices.
Partnership Buys Two Georgia Apartment Properties
A joint venture of W.P. Carey, Carroll Organization and Silverpeak Real Estate Partners has acquired two apartment properties in Georgia totaling 444 units for $46 million. The two are Gentry’s Walk in Chamblee, which has 227 units, and Dupont Place in Tucker, which has 217 units.
L+M, Other Partners Bring Affordable, Veterans Housing to Brooklyn
A partnership between L+M Development Partners and Bell Urban, the New York City Department of Housing Preservation and Development, the Housing Development Corporation and the U.S. Department of Veterans Affairs and its partners, have announced the debut of the Crown Heights Brooklyn mixed-use project, Utica Place.
TODAY’S DEALS: Security Properties Sells 192 Units Southeast of Seattle
Security Properties exits a value-add play in Washington; Colliers closes an $11.6 refinancing in Atlanta with Prudential; and WaveCrest Capital acquires an apartment property for $8.8 million in an off-market transaction.
The Mark Company: SF, LA and Seattle New Condo Prices Steady in October
The value of new construction condominiums in San Francisco was up 4 percent in October versus the previous month. New construction condominium values climbed 1 percent in Los Angeles and 2 percent in Seattle month over month.
Package Concierge Announces New VP of Sales
Package Concierge, developer of a package locker solution for apartments and student housing communities, today announced that Jack Cady has joined the company as vice president of sales.