News
Economy Watch: Personal Income, Spending Up in May
The Bureau of Economic Analysis reported that U.S. personal income was up $58.8 billion, or 0.4 percent, in May compared with April.
Keeping the Faith in Philly: Barzilay Develops Apartments Within a Church
Try to convince Barzilay Development founder and CEO Alon Barzilay that someone should preserve and redevelop Philadelphia’s historic structures, and you’d surely be preaching to the choir. Barzilay has announced his company’s Sanctuary Lofts, an apartment project built within a 125-year-old church, is now available for lease.
Banner Apartments Begins Work on Downtown Raleigh Apartments
Banner Apartments and Metropolitan Investment Partners have broken ground on The Lincoln, an apartment development in downtown Raleigh, N.C. The 224-unit project occupies a full city block and is near the Fayetteville Street CBD.
TODAY’S DEALS: RADCOS Completes $95.3M Buy, Colorado’s Largest for 2014
The RADCO Cos. completes the largest apartment buy in Colorado for 2014; TruAmerica, Guardian and Allstate complete a $229 million, 1,514 unit portfolio acquisition; and GFI exclusively represents the $6.5 million sale of 42 unsold condo units in Brooklyn, N.Y.
Capstone Hosts Grand Opening of Rockdale,Texas, Seniors Community
Local politicians, community residents and members of the press were recently on hand to attend the grand opening of Hunter’s Chase, an age-restricted seniors community in Rockdale, Texas, that is exclusively managed by Capstone Real Estate Service Inc.
London’s West End Office Market Ranks First in CBRE’s Occupancy Costs Study
The title of world’s highest-priced office market is staying in the capital of the United Kingdom, while three of the top five markets are located in Asia, confirming the area’s recent rise to power in terms of office space, the latest CBRE Global Research and Consulting survey shows.
Citi Acquires East Tower at One Bay East for $700 Million in Hong Kong’s Largest Ever Office Purchase
CBRE recently announced its participation in the largest office tower purchase in the Hong Kong office market.
Eastern Europe On The Rise: Romania’s Second Largest City Welcomes First Green Luxury Residential Development
Cluj-Napoca, the second most populous city in Romania, is about to get its first green luxury residential project: the 91-unit Riviera Luxury Residence condominium tower.
PRG Real Estate and WVS Companies Team on Roanoke Apartment Development
PRG Real Estate and WVS Companies have teamed to develop South16, a contemporary apartment building in Roanoke, Va., located in the epicenter of the city’s 110-acre riverfront redevelopment project.
Economy Watch: GDP Drops Through Floor in Q1
Real gross domestic product decreased at an annualized rate of 2.9 percent in the first quarter of 2014 according to the third and final estimate by the Bureau of Economic Analysis.