News
Condo Prices Skyrocket in Downtown Miami
As the current wave of development nears the halfway point, downtown Miami condominium prices are soaring. Prices for existing (prior cycle) resale condo units in the city’s downtown district have ballooned 75 percent over the past 24 months.
Economy Watch: New Home Sales Drop in June
Sales of new single-family houses nationwide came in at an annualized rate of 406,000 units, according to the Census Bureau. That’s 8.1 percent below the May rate of 442,000 units, and 11.5 percent lower than the rate in June 2013.
TODAY’S DEALS: Simpson Housing Sells Property in Affluent South Charlotte Submarket for $32.25M
ARA announced the sale of The Arboretum Apartments, a 277-unit mulit-housing community to an affiliate of The Connor Group; and Capital One Multifamily closes a $25.6 million Fannie Mae loan refinancing apartments in Southern California.
Apartment Market Remains Strong in First Half of 2014
According to a recent report from apartment research company Axiometrics, the U.S. apartment market has remained strong through the first half of 2014, thanks in part to low concession rates, high annualized rent growth and occupancy rates.
Insider’s Perspective: Banks Eager to Make CRE Loans, Still Unloading Distressed Assets
As an officer who confers with banks on a daily basis, Richard Walter, senior managing director of Promontory Interfinancial Network and head of Bank Assetpoint, can provide borrowers with a perspective into the financial institutions.
Apartment Markets Continue Expansion in July NMHC Quarterly Survey
Apartment markets continued to expand in the second quarter of 2014, as growth accelerated in all four indexes in the National Multifamily Housing Council Quarterly Survey of Apartment Market Conditions.
Sales of Foxford Communities’ Suburban Chicago Condos Reach Midway Point
Demand for condos isn’t just a city phenomenon: Medinah on the Lake, a condo conversion in the northwest Chicago suburb of Bloomingdale, has sold more than half of its 72 units since sales began in March, according to developer Foxford Communities.
Zaha Hadid Receives Design of Year Award from the London Design Museum for Heydar Aliyev Center in Baku
Zaha Hadid was recently awarded with the Design of the Year award by The London Design Museum for the Heydar Aliyev Center in the capital of Azerbaijan.
Alliance Residential Promotes Key Leaders
Alliance Residential announced the promotions of V. Jay Hiemenz to president and chief operating officer, and Bob Weston to chief financial officer.
PRIME Hires VP of Student Housing
PRIME Multifamily Investors today the appointment of Lori Butler to the role of vice president of student housing for the company.