News
TODAY’S DEALS: American Realty Advisors Buys an L.A. Asset from Dinerstein
American Realty Advisors buys a Los Angeles asset; Marcus & Millichap sells 336 units in Indianapolis; and M&P purchases two San Diego properties for more than $2 million.
540West in New York’s Hell’s Kitchen is 80 Percent Sold
Fortis Property Group and Wonder Works Construction Corp. have announced that the Hell’s Kitchen development, 540West, is now 80 percent sold.
Boston Capital Real Estate Partners Acquires 194-Unit MF in Alpharetta, Ga.
Boston Capital Real Estate Partners LLC has acquired Lakes at Windward, a 294-unit, Class B garden-style multifamily community located in Alpharetta, Ga.
Economy Watch: Pending Home Sales Edge Up in September
The National Association of Realtor’s Pending Home Sales Index, which is a forward-looking economic indicator based on contract signings (but not closings), inched upward to 105.0 in September from 104.7 in August, and is now 1 point higher than in September 2013, when it was 104.0.
Cypress Development to Open Sales at Scottsdale Condo Development
Cypress Development Group is on the verge of launching sales for the Sterling Collection at Silverleaf, a condo development in Scottsdale. The property is composed of five four-story buildings that include automated parking and private elevators that open directly into each unit.
Redeveloped Coop Adds 79 New Luxury Units to Elmhurst Neighborhood
Veteran developers Myles Horn, ABC Properties and Fisher Associates have unveiled 79 redeveloped units at The Continental Park in Queens, New York’s Elmhurst neighborhood.
TODAY’S DEALS: Weidner Makes Entry in Oklahoma with 324-Unit Purchase
ARA brokers the sale of a newly built asset in Oklahoma City; CBRE Global Investors grabs a 348-unit asset near Portland; and NorthMarq Capital finalizes a $12.4 million refinance.
Virtus Real Estate Capital and Aspen Heights Announce Joint Venture on New Student Housing
Virtus Real Estate Capital, a real estate private equity firm, and Aspen Heights, a student housing development and management company, have partnered to develop a 684-bed cottage-style student housing community, located close to the University of Oklahoma.
Leasing Officially Launches at NYC’s Prism at Park Ave. South
Leasing is underway at Prism at Park Avenue South, the new rental property from Equity Residential. Prism is the rental portion of the 40-story, architecturally significant hybrid rental-condominium tower designed by architect Christian de Portzamparc, winner of the acclaimed architectural Pritzker Prize in 1994, and renowned for bold and modern designs.
FS Energy Named Finalist in RISE : NYC Competition
FS Energy, the energy management and advisory subsidiary of leading property management firm FirstService Residential, has been named a finalist in the RISE : NYC competition, which recognizes innovative projects and technologies that will bolster the city’s buildings and infrastructure against future storms.