News
Commonwealth Cooperative Buys DC Apartments, Plans Rehab
South Cathedral Mansions, an apartment building in the Woodley Park district on Connecticut Ave. in Washington, D.C., has changed hands for only the fourth time since Harry Wardman and Mihran Mesrobian developed it in 1922.
TODAY’S DEALS: Carroll Organization Completes 15th Florida Buy Since April 2013
Carroll Organization completes a 320-unit acquisition; BMC Capital provides $1.1 million to refinance a Houston community; and NorthMarq Capital arranges a $2.85 million refinance of apartments in Queens, N.Y.
Related Midwest’s 500 Lake Shore Drives Certified LEED Gold
Related Midwest has announced that its 47-story luxury apartment tower 500 Lake Shore Drive has earned the United States Green Building Council’s LEED Gold Certification for its efforts in sustainable design and construction.
Atlanta Property Acquired by Winn Companies, Roseview Group
Roseview Winn Residential Fund 1 has acquired Carroll at Bethesda Park, a 222-unit luxury apartment community in the desirable Lawrenceville submarket of Atlanta’s Gwinnett County.
Thomas O’Brien Named President of LCOR
LCOR, a fully integrated real estate company specializing in property development, investment and management, announced that its chief operating officer, Thomas O’Brien, a 30-year veteran of the company, will succeed Peter DiLullo as president of LCOR, effective July 1.
IREM® and its International Chapter Network to Spotlight Organization’s Deep Ethical Roots During Upcoming, Month-Long Observance
The Institute of Real Estate Management (IREM®) and its 93 chapters across the U.S. and abroad will mark, throughout the month of September, the annual observance of “IREM® Ethics Awareness Month.”
Williamsburg Adaptive Reuse Near Completion
The Williamsburg neighborhood of Brooklyn has been a residential hotspot for some time now—ever since Brooklyn was discovered by hipsters and people tired of paying Manhattan rents—and the latest of a swarm of recent residential developments, 172 North 10th St., is nearly finished. The project is an adaptive reuse.
Economy Watch: Home Prices Rises Slowing Down
According to the latest S&P/Case-Shiller Home Price Indices the 10-city and 20-city composite indexes were up 10.8 percent year-over-year in April.
TODAY’S DEALS: Pegasus Investments Closes $7.4M Denver Multifamily Buy
Pegasus Investments closes a $7.4 million Denver buy on behalf of a high net worth family; Pathfinder Partners wraps up an opportunistic play with a $1.9 million sale in Pheonix; and NorthMarq Capital completes three multifamily transactions totaling $58.1 million on behalf of one borrower.
Urban Garden Unveiled at Rehabilitated Affordable Housing Buildings in Bronx
The New York City Department of Environmental Protection, Workforce Housing Group, Grow NYC, Banana Kelly Community Improvement Association, the Department of Housing Preservation and Development and other partners recently unveiled Kelly Street Green urban garden, which marked the final component of an extensive rehabilitation of five Bronx buildings.