News
TODAY’S DEALS: Inland Acquires Newly Constructed Indianapolis Community
Inland Real Estate Picks up a 384-unit asset from Milhaus in an HFF-brokered sale; Gebroe-Hammer closes 13 multifamily sales in July and August; and Meridian Capital brokers $29 million in creative acquisition and construction financing for a boutique condominium project.
New-Home Sales Top 500,000 in August, Highest Level Since 2008, Says NAHB
Sales of newly built, single-family homes increased 18 percent in August to a seasonally adjusted annual rate of 504,000 units in August, the highest level in six years, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
KTGY-Designed Student Housing Opens at WesternU
Architecture and planning firm KTGY Group and student housing developer Hanover Pacific have announced the unveiling of the Daumier at Western University of Health Sciences in Pomona, Calif.
Economy Watch: Home Price Increases Continue to Slow
More evidence that the residential expansion this time isn’t a bubble: According to the Federal Housing Finance Agency, U.S. home prices were up 0.1 percent in July compared with June.
New Student Housing Under Way in Raleigh
Stanhope, a new student housing property in Raleigh, has broken ground and has an expected completion date for the summer of 2015, ahead of the next academic year.
Bluejay Management’s 341EPW 65 Percent Leased
Bluejay Management’s recent development, 341EPW, located in Brooklyn’s Crown Heights neighborhood, has surpassed the 65 percent leased mark following its mid-July launch, according to aptsandlofts.com, the exclusive leasing and marketing agent for the building.
TODAY’S NEWS: Cohen Financial Secures $64M for a Colorado Development
Cohen Financial secures financing for a 312-unit development between Denver and Boulder; Equicap arranges a $12.5 million mortgage for a portfolio in New York’s East Village; and Grandbridge Real Estate Capital obtains a $8.35 million life insurance company loan for a portfolio of properties located in the Twin Cities.
Naftali Group Developing 20-Story NYC Condo
The Naftali Group is developing a 20-story condominium at 234 East 23rd St. in Manhattan’s Gramercy district.
Economy Watch: Existing Home Sales Drop in August
The National Association of Realtors reported that U.S. existing home sales decreased 1.8 percent to an annualized rate of 5.05 million units in August, compared with 5.14 million in July.
Step Up Your Barbecue Game with a Refreshment Center by Coyote
Nothing compliments some quality game time like a barbecue, and nothing compliments a barbecue like some cold beverages.