News
Connecticut Awards $27M in Redevelopment Funds, Some for Multifamily
The state of Connecticut, through its Department of Economic and Community Development, has awarded $27 million in grants and loans for 20 brownfield remediation and redevelopment projects throughout the state.
Crown Realty & Development Acquires Ocotillo Springs Community in Chandler, Ariz.
Crown Realty & Development has announced that it has closed on the purchase of the 272-unit Ocotillo Springs Community in Chandler, Ariz. The $33.4 million acquisition is the company’s 10th purchase in the Phoenix area market since 2010 and the company already has plans for extensive interior renovations and other community upgrades.
TODAY’S DEALS: Kennedy Wilson Acquires 118 Units South of Seattle
Kennedy Wilson completes a $20.8 million acquisition in Turnwater, Wash.; Hunt Mortgage Group refinances an affordable seniors asset in Pennsylvania; and NorthMarq Capital arranges a seven-year, $22.8 million acquisition loan.
MNS Report Shows Rents in Queens on the Rise
A new report by MNS, the “Queens Rental Market Report,” reveals that rent prices in Queens increased approximately 1.76 percent from June to July, with average rents going from $2,077 to $2,113.
Economy Watch: Personal Income Edges Up, Spending Dips
Personal income nationwide increased $28.6 billion, or 0.2 percent in July compared with June, according to the Bureau of Economic Analysis.
PropertyShark to Host Annual Networking Event & User Appreciation Party on Sept. 16 at Space Ibiza in New York
More than 750 attendees are expected to join PropertyShark team members for a night of great music, delicious food and unforgettable fun.
TODAY’S DEALS: Greystar Nabs Oregon Community from Invesco
Greystar acquires a 264-unit community in the Silicon Forest; NorthMarq Capital finalizes a $13 million bridge loan for a Manhattan High Line condo project; and Smith Equities arranges the sale of two student housing assets that serve the University of South Florida.
P.B. Bell, Davis Enterprises Tapped to Redevelop Barrister Place Building in Phoenix
The City of Phoenix has selected P.B. Bell and Davis Enterprises to redevelop the historic Barrister Place building in the city’s downtown neighborhood.
PackageLog Now Synchronizes With Yardi Voyager
PackageLog™, powered by Logware™, announced its ability to communicate with Yardi® (yardi.com), a property management software provider. This integration allows resident information to be shared between Yardi and PackageLog™, removing the need to transfer information manually.
ForRent.com Rolls Out Geo-Targeted Videos
Norfolk, Virginia—For Rent Media Solutions, a multifamily resource providing marketing solutions for property management companies nationwide, has launched a new web experience on the homepage of ForRent.com®. The ForRent.com homepage video experience (FRVideo), geo-targeted and unique to each local area, provides a richer, more engaging and memorable experience for apartment shoppers. Depending on where the renter is searching for an apartment, the static city photo formerly on the ForRent.com homepage has been replaced with a geo-targeted FRVideo showcasing significant community features and apartment lifestyles. Over 4.4 million people visited ForRent.com in July. Those who come to the homepage will now…