News
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.
Economy Watch: Cities Took it on the Chin During Recession
The Pew Charitable Trusts released a report that quantified how difficult the recession and post-recession years were for the 30 largest U.S. cities.
Avoiding Frequent Liability Pitfalls in Common Areas
Claims against apartment complexes, management companies, extended-stay lodging facilities and condominiums make up a significant portion of personal injury claims and lawsuits.
Alliance Residential Partners with IREM
Alliance Residential has teamed with the Institute of Real Estate Management (IREM) to offer two of the industry’s real estate management credentials available to Alliance associates through its learning management platform, Alliance University.
Freddie Mac Picks Lenders for Small Loan Product
Freddie Mac has tapped three lenders as the first ones to sell loans to the company as part of its new Small Business Lending product: Hunt Mortgage Group, Greystone Servicing Corp. and Arbor Commercial Mortgage.
TODAY’S DEALS: W.P. Carey Grabs Pair of Georgia Apartment Assets for $46M
W.P. Carey-led investment group grabs 444 units in Georgia; HFF arranges financing for a 520-bed student-housing asset in California; and Red Capital provides a $3.85 million balance-sheet construction mezzanine loan.