News
Vantage Assumes Helm at The Premier in Silver Spring
Vantage Management recently took over the management of The Premier, a six-month-old, 14-story high-rise apartment tower in Silver Spring, Md. Owned by Guardian Realty Investors and designed by WDG Architects, The Premier features 160 residential units, as well as retail space.
Economy Watch: Retail Sales Up Modestly in June
Retail sales were up 0.2 percent in June compared with May, according to the Census Bureau, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes. Total sales for the month came in at $439.9 billion, up 4.3 percent from June 2013.
TODAY’S DEALS: Pillar Originates $20.7M HUD Loan
Pillar originates a $20.7 million acquisition and rehabilitation loan for an affordable asset in Michigan; HFF arranges $8.5 million for a 244-unit community in Tampa; and Boston Capital provides capital for two LIHTC properties in North Carolina.
Oden Hughes Adds Property Management Services
Austin-based Oden Hughes LLC has launched a new property management division headed by industry veteran Stephani Park.
Sterling Celebrates Opening of Class A Knoxville Community
The Sterling Group has announced the grand opening of its newest Class A apartment asset in Knoxville, Tenn. The community, Wellsley Park at Deane Hill, will add 249 units to that market.
‘What Renters Want’ with Jessica Fiur: Luxury Student Housing
Is the influx of luxury student housing communities a fleeting trend, or is it here to stay?
Bell Partners Acquires 240-Unit Apartment Community in Boston Metro Area for $54.1M
Bell Partners Inc., has acquired Lodge at Stoughton, a 240-unit community in Stoughton, Mass., for $54.1 million from the Hanover Company.
Economy Watch: Citi Pays Fine for Subprime Misdeeds
Citigroup agreed to pay $7 billion to settle charges levied by the U.S. Department of Justice that the banking giant routinely and brazenly securitized and sold vast numbers of bum mortgages to investors in 2006 and ’07, and knew it was doing so.
New Auction.com App Lets You Buy on the Move
Mobile technology has revolutionized the way we shop for goods. A new app from Auction.com aims to do the same for real estate.
Hensel Phelps, Mithun Awarded Contract for New UCI Student Housing Community
The University of California, Irvine has announced that it has selected construction and design firm Hensel Phelps in partnership with architect Mithun to design and construct the Mesa Court Expansion student housing community. The $92 million project it targeting LEED Platinum and will add 780 beds to the university’s housing.