News
Foxford Communities Acquires Suburban Chicago Property
Foxford Communities has acquired Century Station, a mixed-use property in the near west Chicago suburb of Berwyn, Ill. Hindsale, Ill.-based Foxford will undertake exterior improvements and update the common areas of the 52-unit Central Station over the coming months.
Tobacco Plant Redeveloped into Apartments in Winston-Salem
Pennrose Properties and C.A. Harrison Cos. are on the verge of completing the redevelopment of Plant 64 in downtown Winston-Salem, a former RJ Reynolds tobacco plant, into apartments.
TODAY’S DEALS: Northland Acquires the Largest Apartment Community in Austin
Northland Investment Corp. buys 1,072 units in Austin; Charles Dunn Co. completes a $15.1 million sale in Los Angeles; and RED Capital provides a $16.5 million equity bridge loan that enables later Low Income Housing Tax Credit equity pay-in to reduce costs.
What Renters Want with Jessica Fiur: Should Your Apartment Community Have a Guest Suite?
Would your community benefit by having a guest suite as an amenity?
William’s Court Kanata Lakes Apartments in Ottawa Sells for $47.6M
Killam Properties has recently acquired the 152-unit Kanata Lakes Apartments II, a newly constructed luxury rental building in Kanata, Ontario, in the outskirts of Ottawa.
Engrain Launches Portable Marketing and Sales/Leasing Platform for Real Estate, TouchTour GO
Engrain (engrain.com), a provider of touch screen marketing, sales/leasing and messaging platforms for real estate, has announced the rollout of TouchTour GO, a compact version of its large-screen TouchTour system.
Trump International Hotel & Tower Baku to Open in June 2015
Trump Hotel Collection recently announced the development of Trump International Hotel & Tower in Baku, Azerbaijan. The 33-story luxury hotel will be located on Hasan Aliyev St. in the Nasimi District of Baku, in close proximity to the Zaha Hadid-designed Heydar Aliyev Center, and is slated for completion in June 2015.
ETCO Homes Developing Luxury Apartments in Beverly Hills
ETCO Homes is developing 460 Palm, a 35-unit apartment community in Beverly Hills, Calif.
W.P. Carey Completes Acquisition of Class A HQ Property in Oil-Driven Norwegian Market
By Alex Girda, Associate Editor Stavanger, Norway—Global REIT W.P. Carey Inc. recently announced the acquisition of an office asset in the fastest growing market in Southern Norway. The company specializes in corporate sale-leaseback, build-to-suit financing and the acquisition of single-tenant net-lease properties, a strategy it respected with the acquisition of the headquarters of Apply AS in the city of Stavanger. Two of the REITs that the entity manages, namely CPA:17—Global and CPA:18—Global completed the purchase of the asset in a deal worth around NOK 662 million (roughly $100 million). Apply AS is a local oil and gas industry topside engineering…