News
Toby Bozzuto Named ‘Developer of the Year’ by Maryland Building Industry Association
The Maryland Building Industry Association (MBIA) has named Toby Bozzuto, president of The Bozzuto Group, as its Developer of the Year.
CORT Names Tamela Coval Executive Strategist
CORT, a Berkshire Hathaway Company, announced that multifamily industry veteran Tamela Coval, has joined the company as an executive strategist.
Earwood Joins EdR Construction Team to Support Growth
EdR announced that Bob Earwood has joined the company as vice president of construction effective immediately.
PBM Adds Two Executives to its Senior Management Team
Perfect Building Maintenance (PBM), a building maintenance companies, announced the addition of two executives to its senior management team. Ronald Fay has been appointed general manager, a position created specifically for him. Patricia O’Brien joins as senior account executive.
Candlebrook Introduces 251 DEKALB in King of Prussia, Pa.
New York-based owner and operator Candlebrook Properties has unveiled a new amenities-rich luxury redevelopment in the Philadelphia suburb of King of Prussia, Pa. Occupancy is slated for this summer, with completion of the 641-unit community scheduled to be completed through various phases through 2016.
TODAY’S DEALS: California Investor Sells 559 Units in San Antonio
ARA brokers a 599-unit sale for Regional Investment & Management; Grandbridge closes a $33 million refinance for a Texas apartment community; and NorthMarq Capital arranges a $21.4 million construction loan.
TSW Designs Renovation of Atlanta’s Ansley Forest Apartments
For decades, the 1970s-era Ansley Forest Apartments in Midtown Atlanta sat in a time warp, as the neighborhood around the community evolved and flourished.
Economy Watch: Unemployment Ticks Up in Nearly Half the States
The Bureau of Labor Statistics reported that 24 states and the District of Columbia suffered unemployment rate increases in August compared with July, while 15 states had decreases, and 11 experienced no change.
Continential Properties Begins New OK City Apartments
Developer Continential Properties Inc. has started work on Springs at Memorial in Oklahoma City.
TODAY’S DEALS: Lee & Associates Sells Five Units for $2.3M
Lee & Associates achieves the highest per-unit price in California’s Conejo Valley; a 292-unit community in Fort Worth trades hands with help from Marcus & Millichap; and Berkadia secures nearly $12 million for a mixed-use co-op property.