News
SLR to Open Austin Luxury High Rise
StreetLights Residential is opening The Catherine, 300 luxury apartment homes in Austin Texas.
Economy Watch: Mortgages in Foreclosure Drop Steeply Since ’13
Black Night reported that the number of delinquent U.S. residential loans increased slightly in June compared with May, but is down 15 percent year- over-year.
Montroy Andersen DeMarco Hires David J. Stuart, AIA as Studio Director
David J. Stuart, AIA has joined the prominent New York City architecture, design, and planning firm of Montroy Andersen DeMarco (MADGI) as studio director.
CDT Reaches $1B in Cumulative Investments on Organization’s 15th Anniversary
The nation’s first and largest private REIT, Community Development Trust, has announced that it has surpassed the $1 billion mark in cumulative investments in affordable housing after closing on a $40 million portfolio in California. The accomplishment coincides with the organization’s 15-year anniversary.
Work Begins on Downtown Chicago Apartment Tower
Ground has broken on Wolf Point West Tower, a 47-story multifamily project in downtown Chicago. When completed in the fall of 2015, the property will feature 509 rental units, 200 parking spaces and more than 400 feet of publicly accessible river walk.
TODAY’S DEALS: Centerline Capital Arranges Loans for Three Multifamily Properties in Oregon
Centerline Capital provides $16.3 million in financing to properties in Eugene and Portland, Ore.; and EverBank supplies a $4.1 million construction takeout loan.
Condo Prices Rising Again in Trio of West Coast Cities
Condominium prices rose again in June in downtown Los Angeles, San Francisco and downtown Seattle, according to The Mark Company’s Condominium Pricing Index.
Economy Watch: Existing Home Sales Up in June
The National Association of Realtors reported that total existing-home sales rose in June by 2.6 percent month-over-month to an annualized rate of 5.04 million units, compared with 4.91 units million in May.
TODAY’S DEALS: HFF Arranges $95M Construction Loan for Hi-Rise in Reston, Va.
HFF arranged a bank construction loan of $95 million for the development of BLVD at Reston Station; and Red Mortgage funds a $31M FHA supplemental loan for a new construction.
Pre-Leasing Commences at New Vernon Hills, Ill., Luxury Community
REVA Development Partners has announced that is has started pre-leasing for its 304-unit luxury community The Oaks of Vernon Hills in the Chicago suburb of Vernon Hills, Ill.