News
TODAY’S DEALS: Denver Sale Breaks Price Per Square Foot for Uptown Neighborhood
An ARA-brokered boutique apartment sale sets a price per unit record in Denver’s Uptown neighborhood; Greystone provides $36.7 million refinancing for a skilled nursing facility in Hollis, N.Y.; and Radco acquires a property for $6 million and plans a $3 million upgrade.
Sabal Financial Introduces “SNAP™ Next-Gen Application Process Alternative to Traditional Lending
Newport Beach, Calif. – Sabal Financial Group, L.P., a diversified financial services firm specializing in real estate, lending and banking, has announced its expansion into commercial real estate (CRE) term lending. To facilitate the growth into this sector, the company is leveraging a leading edge technology to facilitate a predictable and reliable financing solution for small balance commercial real estate loans. “Historically, many loan applicants have faced extended periods of uncertainty throughout a lengthy financing process. Our new platform is staffed with exceptional talent focused on providing superior service and managing to high-level quality expectations. Our innovative technology simply accelerates the…
Prime Property Investors Buys Houston-Area Apartments
Prime Property Investors has acquired a 306-unit apartment community in metro Houston for an unspecified price.
TODAY’S DEALS: KeyBank Provides $139M to Refinance Four-Property Portfolio
KeyBank provides a $139 million refinance on behalf of NSP Inc.; Capital One Multifamily closes $17.2M for apartments; and Community Preservation Corp. provides a $12.42M Freddie Mac loan for market-rate housing in downtown Syracuse, N.Y.
Downtown Dallas Building Earns First IREM Certified Sustainable Property Certification
he Energy Plaza building, a 49-story office property located at 1601 Bryan Street in downtown Dallas, has become the first building in the United States to be awarded the IREM® Certified Sustainable Property certification by the Institute of Real Estate Management (IREM®).
McShane Awarded Construction on Continental Properties Development
Continental Properties has appointed McShane Construction Company’s Southeast Region to handle construction of Springs at Waukee, a 260-unit luxury apartment community to be built near Des Moines, Iowa.
Alchemy Properties’ 35XV Condo Development is 80 Percent Sold
Alchemy Properties has announced that 80 percent of the residences at its 35XV condominium development have been sold. The 24-story building is located at 35 West 15th Street in Manhattan and is expected to be completed by the fourth quarter of 2014.
Economy Watch: U.S. Economy Adds 217,000 Jobs in May
The Bureau of Labor Statistics reported that the economy added a net of 217,000 jobs in May, which wasn’t quite as much as in April, but still a reasonably healthy number.
Disruptive Technologies
Apartment marketing makes use of new consumer-driven capabilities.