News
Insights on the Transformation of Detroit
For many American cities, the end of 2007 marked the bitter start of what now experts call “The Great Recession.” Among them, Detroit. But the ghost-like Detroit turned out to be a tremendous opportunity for real estate investors, and one of them has become a sort of local superhero.
Opus Develops 26-Story Luxury MF in Downtown Minneapolis
The Opus Group has completed development of The Nic on Fifth, a 26-story, luxury high-rise apartment community in downtown Minneapolis, designed to meet LEED certification.
GE’s Easy Load Oven Drawer Keeps Wannabe Chefs Burn-Free
One of the biggest pain points with cooking is getting food in and out of the over without getting a blister. The smart folks at GE understand our struggle, and have developed an Easy Load Oven Drawer that makes meal preparation easier for the half-baked home cook.
Grace Hill Acquires Education Division of LeaseHawk and Announces Best-of-Breed Partnership for Multifamily Housing Industry
Grace Hill, a provider of online education and learning management solutions for the multifamily housing industry, and LeaseHawk jointly announced the acquisition of LeaseHawk’s education division.
Economy Watch: Construction Spending Drops in September
The Census Bureau reported that construction spending during September 2014 came in at an annualized rate of $950.9 billion, a drop of 0.4 percent compared with August.
Construction Underway on West Humboldt Place in Chicago
Work has begun on West Humboldt Place, a 13-unit apartment building on the West Side of Chicago. Once complete, the new housing development will serve low-income families with disabilities.
Leasing Underway at Related California’s The Emerson in Los Angeles
Related California has announced that leasing has started at the company’s new downtown residential apartment building, The Emerson.
TODAY’S DEALS: CBRE Acquires Portland Apartments from Capri Capital
ARA brokers a $54.1 million Portland sale; Equus completes the disposition of a 1,100-unit portfolio in Atlanta; and Capital Fund Services sources financing to preserve affordable housing stock in Indiana.
The Spot Experience-Silverstein Properties Unveiling is No Shaggy-Dog Story
Pet care services provider The Spot Experience has launched the first-ever full-scale onsite pet services residential amenity. The 9,000-square-foot state-of-the-art facility is offered in partnership with Silverstein Properties on the lobby level of Silver Towers, along 42nd Street.
Economy Watch: Personal Income Edges Up
U.S. personal income increased $22.7 billion, or 0.2 percent in September, according to the Bureau of Economic Analysis on Friday. During the same period, personal consumption expenditures (PCE)—people out-spending their personal income—decreased $19 billion, or also 0.2 percent.