News
McKinley Appointed Asset Manager for 2,772 Bed Purpose-Built Studen Housing Community
McKinley announced it has been retained as Asset Manager for Chandler Crossings located in East Lansing, Mich., serving the Michigan State University campus.
Economy Watch: Most States See Unemployment Rate Drops Since Last Year
The Bureau of Labor Statistics reported that 20 states had unemployment rate decreases in May compared with April, 16 states suffered increases and 14 states and the District of Columbia experienced no change.
Stone Veneer Offers New Inspiration for Multifamily Developers
Stone is a key design element that breaks up the monolithic look while also minimizing mass.
TODAY’S DEALS: Charles Dunn Brokers 201-Unit Los Angeles Sale
Charles Dunn Co. brokers the $22 million sale of an L.A. apartment community; Madison Realty Capital sells a 20-unit NYC apartment for $12.3 million; and NorthMarq Capital arranges $14.45 million in rollover financing consisting of a non-recourse bridge loan and a construction loan.
MBK Rental Living Breaks Ground on Upscale San Diego Community
MBK Rental Living has announced that it has broken ground on its first project, Ocean Air Apartment Homes at Torrey Hills, in the northern San Diego neighborhood of Torrey Hills. The high-end community will include 100 for-lease townhomes and flats on a 4.6 acre parcel.
JDC Completes Latest California Apartment Redevelopment
JDC Construction + Development Group has completed the $4 million restoration of the 237-unit 1718 Ximeno Ave. apartment property in the Park Estates section of Long Beach, Calif.
ApartmentFinder.com Releases Citrus, Featuring Enhanced Intuitive Navigation And Advanced Search Technology
ApartmentFinder.com launched its latest site update called Citrus. Significant navigation and design enhancements to the homepage and search features make it easier than ever for renters to find their ideal apartment from one of the largest collections of U.S. apartment rentals online.
Hines, MetLife to Develop Quincy, Mass., Waterfront Community
International real estate firm Hines, in conjunction with MetLife, has announced it will develop a mixed-use multifamily property on the Quincy, Mass., waterfront.
Economy Watch: More Millionaires Than Ever
Boston Consulting Group, in its Global Wealth 2014 report, said that the total number of millionaire households reached 16.3 million worldwide in 2013, up strongly from 13.7 million in 2012 and representing 1.1 percent of all households globally (an almost literal 1 percent).
Northridge Apartments Nearly Leased Up
The 402-unit Terrena mixed-used property, which is in the Northridge district of L.A., has nearly leased its multifamily component. The community consists of a mix of studio and one- and two-bedroom units, as well as about 14,000 square feet of retail space.