News
Economy Watch: Most Industries Hiring in February; Trade Deficit Drops
Most categories of employment saw some kind of net increase during February. Also, total January exports and imports resulted in a U.S. goods and services deficit of $39.1 billion, down from $42 billion in January 2013.
Work Under Way on Mixed-Use Project in Miami’s Wynwood District
Work has started on Wynwood Central, a mixed-used project in the Wynwood district of Miami.
TODAY’S DEALS: SIR Acquires Second Phase of Indiana Development
Steadfast Income REIT picks up phase two of newly built community; a South Carolina asset trades hands for $9.3 million; and Wallace Capital provides a $1.7 million acquisition bridge loan for a 20-acre site.
MARKET SNAPSHOT: Apartment Boom Underway in Indianapolis, Vacancy on the Rise
Indianapolis job gains are expected to generate significant renter demand, but not enough to counterbalance the surge in rental construction.
Funding in Place for Monastery to Seniors Conversion in Chicago
Senior Lifestyle Corp. has obtained funding for the redevelopment of a monastery on the Northwest Side of Chicago. The Low Income Housing Tax Credits were provided by Boston Capital.
Trade Street to Acquire Pair of Luxury Apartment Properties
Trade Street Residential has announced that it plans to acquire two newly-built apartment communities with a combined 502 units. One asset is in Raleigh, N.C., the other is in suburban Atlanta.
Economy Watch: Moderate Job Growth; Household Net Worth Increases; Negative Residential Equity Shrinks
The modest increase in U.S. jobs continued in February, with the addition of 175,000. Household net worth increased again in the fourth quarter of 2013 to a record level. And 4 million U.S. mortgage holders returned to positive equity in 2013.
Outlook for Apartment REITs in 2014
Factors that influenced the performance of REITs in 2013 included the federal government shutdown, budget cuts imposed by sequestration, and interest rate concerns. So how will REITs perform in 2014?
Luxury Gold Coast Community Opens in Weehawken, N.J.
Hartz Mountain Industries and Roseland officially open Estuary at Lincoln Harbor, the newest luxury waterfront rental on New Jersey’s Gold Coast.
Village Green Buys Streeterville Apartments, Plans Improvements
Village Green has acquired a 21-story, 147-apartment community in the Streeterville neighborhood of Chicago. Plans call for a repositioning and rebranding.