News
Duravit Announces Second Designer Dream Bath Competition
Following a successful launch in 2013, Duravit USA, Inc. has announced its second annual Designer Dream Bath Competition. The program invites architects and designers to imagine their ideal bath space using a selection of Duravit collections, which include Vero, DuraStyle and Happy D.2.
Freddie Mac Financing in Place for Seattle-Area Apartment Deal
The buyer of the Lakes by Mill Creek Apartments, a 223-unit garden apartment community in Everett, Wash., has obtained an $18.5 million loan for the acquisition. The property was originally developed in 1986, and is currently 99 percent occupied.
Fuss & O’Neill Captures Award for Mill at Hop Brook
Two CREW CT Blue Ribbon Awards have been bestowed on Fuss & O’Neill Inc., a firm providing scientific, engineering, planning and design services, for its work at the Mill at Hop Brook development in Simsbury, Conn.
Economy Watch: Consumer Income Up, Spending Down
The Bureau of Economic Analysis reported that Americans’ personal income increased $43.7 billion, or 0.3 percent, in April compared with March.
RMK Management Welcomes First Residents to 73 East Lake Luxury Apartments
Chicago—RMK Management has announced that residents have started moving into the 42-story, M & R Development apartment building in Chicago’s Loop. The luxury building is the first new-construction apartment tower to open in 2014 and M & R’s first luxury apartment tower to open in Chicago since 2010.
TODAY’S DEALS: Steadfast Apartment REIT Closes First Acquisition
Steadfast Apartment REIT completes its first acquisition with a Tennessee purchase; NorthMarq Capital finalizes $41 million seven-year refinancing loan; and Cohen Financial secures a $26.3 million bridge loan for a fractured condo in suburban Orlando.
Economy Watch: GDP Contracts in Q1
By Dees Stribling, Contributing Editor Real U.S. gross domestic product decreased at an annualized rate of 1 percent in the first quarter, according to the Bureau of Economic Analysis’ second estimate on the metric, which was released on Thursday. In the fourth quarter of 2013, real GDP increased 2.6 percent. The second estimate is based on more complete source data than the “advance” estimate last month, which found that real GDP increased 0.1 percent. The new estimate reflected a downward revision in private inventory investment and an upward revision to imports (a subtraction from GDP) that were partly offset by…
MIPIM Special Series—Part Two: Bringing Logistics Back into the City Through Mixed-Use Developments
Should logistics be permitted in the heart of urban areas? That question was addressed during the “Functional Diversity” session at the MIPIM Innovation Forum in March.
NYC’s First Modular Multi-Story Property Opens to Renters
With Douglas Elliman Development Marketing launching leasing for The Stack, Manhattan’s first modular residential building has hit the rental market.
‘The Accidental Economist’ with Jack Kern: Baseball, Hot Dogs and Investments
When a market is growing, a lot of moving parts have to work together.