News
TODAY’S DEALS: Pacific Southwest Arranges $32M for Calif. Apartments
Pacific Southwest Realty Services secures $32 million for a 447-unit asset via a life company; NorthMarq Capital negotiates a $26.3 million student housing acquisition in West Virginia; and Centerline provides a $4.8- million FHA 223(f) loan to refinance an affordable housing property.
Lynn Richards Named President and CEO of the Congress for the New Urbanism
Nationally recognized smart growth expert Lynn Richards will become the next president and chief executive officer of the Congress for the New Urbanism, the organization announced today.
Housing Starts Rise 2.8 Percent in March, According to NAHB
Led by a 6 percent rise in single-family starts, nationwide housing production rose 2.8 percent above an upwardly revised February rate of 920,000 to a seasonally adjusted annual rate of 946,000 units in March, according to newly released figures from HUD and the U.S. Census Bureau.
OzProp Selects Yardi Voyager 7S in Australia
Yardi announced today that Australian wholesale real estate investment trust manager OzProp selected Yardi Voyager® as its new property management and accounting platform.
BNE Real Estate Group Unveils Luxury Rental Community in Jersey City
Warren at York, a new luxury rental property in Jersey City, N.J., has been given its grand opening.
Economy Watch: Homebuilders a Little More Optimistic
The National Association of Home Builders reported that that the NAHB/Wells Fargo Housing Market Index, which gauges builder confidence in the market for newly built, single-family homes, rose one point to 47 in April from a downwardly revised March reading of 46.
APARTMENT MARKET STATISTICS: April 2014
Apartment total returns for the reporting members of the National Council of Real Estate Investment Fiduciaries fell during 2013, to 2.48 percent in the fourth quarter.
APARTMENT MARKET STATISTICS: March 2014
Multifamily lending by banks increased by $8.1 billion during the third quarter of 2013, according to Chandan Economics.
Condos Still Available at South Loop Luxury by Related
With condominium inventory at fewer than 450 units in the Chicago area, according to Appraisal Research Counselors, buyers looking to own their own residence in the area still have options. More than 300 units have been sold at South Loop Luxury by Related but there are still residences available at the trio of buildings in Chicago’s South Loop neighborhood.
Mack-Cali Buy Boston-Area Apartments for $37M
Mack-Cali Realty Corp. has acquired Andover Place at 650 Bulfinch Dr. in Andover, Mass., which is in Essex County, north of Boston. The New Jersey-based REIT paid about $37.7 million for the 220-unit multifamily property.