News
California Market Report May 2014-Additional California Markets
As reported in the May edition’s California Market Report, San Francisco remains California’s top market for multifamily growth, while Los Angeles and San Diego are experiencing a slower recovery from the downturn. The state as a whole is showing improvement, albeit slow, on the development front and acquisitions of existing assets remains extremely competitive in most of the markets around the state.
Groundbreaking for Second Trump Plaza Building in Jersey City Expected in June
Developers of Trump Plaza in Jersey City, N.J., are gearing up for the ground breaking on the second tower of Trump Plaza in Jersey City after the city council approved a 5-year tax abatement on the property last week.
MARKET SNAPSHOT: NYC Vacancy Rates Still Tight as High-Tech and Hospitality Companies Fuel Job Growth
“High demand” and “shrinking vacancy rates” are the words that best describe the multifamily outlook for 2014 in the City that Never Sleeps.
Prologis Japan Inks Big Prelease for In-development Osaka Facility, Nabs Two Awards for Its REIT
Prologis recently inked agreements for a large amount of space at one of its development projects. The company also received two awards for its Nippon Prologis Real Estate Investment Trust from Thomson Reuters DEALWATCH AWARDS 2013 and Capital Eye.
Bouwinvest Acquires 300 High-End Rental Apartments in Iconic Amsterdam Tower
Bouwinvest REIM, one of the largest Dutch investment managers specialized in real estate, has recently announced the acquisition of 300 high-end rental apartments in The Pontsteiger. The investment is for Bouwinvest’s €2.6 billion ($3.6 billion) Institutional Residential Fund.
TODAY’S DEALS: Praedium Group Buys Colorado Springs Apartments from Griffis/Blessing
The Praedium group completes a $48.5 million apartment acquisition; Greystone refinances two South Florida multifamily assets; and Centerline provides $3.4 million for an acquisition in San Antonio.
Cadillac Fairview Plans Massive Residential and Commercial District in Downtown Montreal
Cadillac Fairview, the real estate arm of Ontario Teachers’ Pension Plan, has recently unveiled its updated plans to develop the impressive Quad Windsor, a new residential and commercial district in downtown Montreal.
Greystar to Manage Student Apartments in Muncie, Ind.
Greystar Student Living will manage Windermere Place Apartments, a 672-bed student housing community in Muncie, Ind.
DAMAC Starts Sale of Units in Newest Dubai Luxury Serviced Apartment Project
Residential, hospitality and commercial developer DAMAC Properties has announced the release of its latest luxury residential project, the 388-unit Vantage in Dubai’s Jumeirah Village.
MHN Interview: Monica Makin, Urban Innovations, Vice President of Acquisitions and Asset Management
In her current position as vice president of acquisitions and asset management for Chicago-based Urban Innovations, Monica Makin is an advocate for expanding affordable housing opportunities for seniors, workforce and low-income residents.