News
Economy Watch: ADP Says 230K Jobs Added in October
U.S. private-sector employment increased by 230,000 jobs in October, according to the latest ADP National Employment Report.
Fort Point Channel Apartments in Boston Bags LEED Gold
315 on A, an apartment community completed this year in the Fort Point Channel neighborhood—which is a hive of multifamily development these days—has won LEED Gold.
TODAY’S DEALS: Two Fort Myers Assets Trade for $19.3 million
Marcus & Millichap sells two communities in Florida; Transwestern brokers a 210-unit sale in Colorado Springs; and Capital One Multifamily Finance closes a $19.5 million Fannie Mae loan.
Watertown Mews Adds Guest Suite to Amenities Package
The Mill Creek Residential-developed and The Bozzuto Group-managed Watertown, Mass., luxury community, Watertown Mews, has announced the addition of a guest suite to the 206-unit luxury community’s amenities list.
Hunt Mortgage Group Hires Fortunat Semadeni as Director and Chief FHA MAP Underwriter
Hunt Mortgage Group, a commercial real estate lender, announced today that Fortunat (Forty) Semadeni has joined the firm as director and chief FHA MAP underwriter to help expand the firm’s FHA lending platform.
Performance Partners Acquires Linda Vista Apartments in Dallas
A Performance Properties-headed partnership has purchased the 370-unit Linda Vista Apartments in North Dallas.
Economy Watch: Home Price Appreciation Even Slower
CoreLogic reported that home prices nationwide, including distressed sales, increased 5.6 percent in September compared to the same month last year.
Work Begins on Downtown Houston Apartments
Ground has been broken for Catalyst Houston, a high-rise apartment building in the Houston CBD. Altogether, the 28-story property will include 361 units, and is slated for completion in the summer of 2016.
TODAY’S DEALS: Cornerstone Completes Phoenix Disposition
IPA brokers Cornerstone’s sale of a 240-unit asset in Phoenix; URS Capital Partners buys an Ohio apartment community; and NorthMarq Capital negotiates $14 million in acquisition financing.
Insights on the Transformation of Detroit
For many American cities, the end of 2007 marked the bitter start of what now experts call “The Great Recession.” Among them, Detroit. But the ghost-like Detroit turned out to be a tremendous opportunity for real estate investors, and one of them has become a sort of local superhero.