News
Economy Watch: Home Price Rises Stall, Foreclosures Slow
Black Knight Financial Services released its latest Home Price Index report, which is based on January 2014 residential real estate transactions. There was no increase nor decrease month over month. Since last year, the index increased 8 percent, a slight drop in the rate from recent months.
Hoffman-Madison Waterfront Kicks Off Massive Mixed-Use Project in D.C.
Work has started on phase 1 of the Wharf on Washington in the district’s southwest waterfront. It is the beginning of a massive mixed-use project roughly a decade in the making.
Hunt Companies Selected to Develop Cadet Residence Hall at Texas A&M
Texas A&M University at Galveston has tapped Hunt Companies to develop a 612-bed, on-campus cadet residence hall.
TODAY’S DEALS: Phoenix Realty Group Buys Connecticut Apartments
CBRE brokers a $27.5 million Connecticut apartment sale; Virtu Investments picks up an Austin apartment asset; and GFI completes the sale of a walk-up for $2.3 million in Brooklyn, N.Y.
Andrew Schwartz Joins Taconic Investment Partners
New York—Asset manager Andrew Schwartz has joined Taconic Investment Partners, an owner, operator and developer of commercial and residential real estate based in Manhattan. As a senior associate, Schwartz is responsible for residential asset management and is involved in Taconic’s development and redevelopment projects. In this capacity, he handles everything from project management and design development to contract negotiations, portfolio strategy and marketing, as well as leasing and sales. Schwartz is also working on Taconic’s 525 West 52nd Street project, which involves the rezoning of a 30,000-square-foot-parcel of land to allow for the development of a 400-unit luxury residential rental…
Auction.com Closes $147 Million in CRE Assets
Auction.com, an online real estate marketplace, facilitated the closing of 38 commercial assets during the month of February. The assets had a combined total sales price of more than $147 million.
NWP’s Apartment Resident Rent and Utility Electronic Payment Service Goes Mobile
Costa Mesa, Calif.—NWP Services Corporation (NWP), a provider of utility cost recovery and management solutions to the multifamily housing industry, has released a mobile portal for its Resident ePay service to allow for fast and easy access to residents who wish to pay their rent and or utility charges from a mobile device. The Resident ePay mobile portal may be accessed and bookmarked from the monthly rent email reminder sent to the resident’s email address. Residents will be able to view, schedule and process payments, thereby having the same payment options currently available to them via the web site based…
Market Snapshot: New Jobs and Rental Stock Do Little to Shake Up Stabilizing L.A. Apartment Market
As we embark on 2014, it seems that the “status quo” of Los Angeles’ apartment market that we’ve seen over the past couple of years will continue.
Mercy Loan Fund Provides Cesar Chavez Foundation $9.9 Million Loan
Cesar Chavez Foundation has acquired The Park at Cliff Creek in Dallas, thanks to a $9.9 million loan from Mercy Loan Fund, in partnership with the Low Income Investment Fund.
Economy Watch: Fitch Affirms Stable Outlook for U.S. Debt
The rating agency Fitch affirmed various kinds of U.S. public debt at a rating of AAA, with a stable outlook.