News
Economy Watch: Existing Homes Sales See Best Year Since ’06
The National Association of Realtors reported on Thursday that total U.S. existing home sales increased in December by 1 percent to an annualized rate of 4.87 million units – that includes single family, townhouses, condos, and co-ops — from 4.82 million units in November.
Development & Design: Trends
MHN takes a look ahead at next-generation apartment features that renters will demand.
Wood Partners Breaks Ground on Miami Apartments
Wood Partners L.L.C. has broken ground on Alta Dadeland, a $128 million mixed-use development with 431 apartment units and 2,000 square feet of retail space next to the Dadeland Mall. The development will also be close to two Metrorail stations.
TODAY’S DEALS: Johnson Capital Arranges a $29.66M Construction-Permanent Loan
Johnson Capital secures a $29,660,000 construction-to-perm FHA Section 221(d)(4) loan; and Henry S. Miller Cos. brokers sale of 77 acres of land.
The Beach Company and MWV Developing Summerville, S.C. Community
The Beach Company and MWV have formed a joint venture to develop Parks at Nexton, a planned 320-unit apartment community in the 4,500-acre Nexton community in Summerville, S.C.
Economy Watch: Chief Executives More Upbeat
The nation’s CEOs are somewhat more confident about their businesses’ prospects than they used to be, according to annual PricewaterhouseCoopers survey of more than 1,300 chief executives, which was released on Wednesday.
Jacksonville Apartment Market Podcast
Pierce Eislen’s Ron Brock Sr. and MHN’s research editor Jack Kern discuss Jacksonville apartment market fundamentals in this edition of our market research podcast.
TODAY’S DEALS: Haley Real Estate Makes $82.2M Acquisition of Multifamily Communities in Texas, Alabama and Georgia
Haley Real Estate Group, an Omaha, Neb.-based investment firm, announced the acquisition of six multifamily properties; and NorthMarq Capital arranged a $10.66 million Freddie Mac refinancing.
Georgia Seniors Housing Property Sells for $33M
Towne Club at Peachtree City, a 153-unit seniors rental housing property in Peachtree City, has traded hands for $33 million, or about $215,600 per unit. The owner, Peachtree City Towne Club L.L.C., sold the complex to a private investor.
Canyon Finances Palo Alto LEED-Certified Mixed-Use Project
Canyon Capital Realty Advisors has provided a loan for the construction of The College Terrace Centre by College Terrace Centre LLC.