News
Economy Watch: Construction Spending Edges Up
U.S. construction spending is at its highest level since March 2009, and unemployment claims decrease for the week ending December 28.
Native American Connections Opens Affordable Asset in Phoenix
A new 70-unit, mixed-use affordable housing community has opened in downtown Phoenix.
Financing in Place for $278M Brooklyn Mixed-Income Project
A 586-unit mixed-income asset is set to break ground in Downtown Brooklyn now that land, LIHTC and $177.5 million in financing are in place.
TODAY’S DEALS: PAC Completes $19.9M Apartment Acquisition in Atlanta
Preferred Apartment Communities completes a 140-unit purchase; Steadfast Apartment REIT commences its IPO; and Eastern Consolidated brokers the sale of a Queens development site to a private Chinese investor for $17 million.
JP Morgan Unit Acquires Massachusetts Luxury Apartment for $63.1M
Institutional investors advised by J.P. Morgan Asset Management acquire Reading Commons, a 204-unit luxury apartment community located 10 miles north of Boston in Reading, Mass.
Economy Watch: Case-Shiller Home Prices Up in October
Newest S&P/Case-Shiller Home Price Indices show the highest year-over-year gains since February 2006, and consumer confidence rebounds in December.
TODAY’S DEALS: Kislak Completes $14.8M Sale of Foreclosed Apartments by Insurance Co. Affiliate
The Kislak Company Inc. brokers a $14.8 million distressed sale; and Marcus & Millichap completes a $1.9 million sale in Norfolk, Va.
TruAmerica Contiues to Grow with Two Class A Acquisitions
TruAmerica Multifamily is two steps closer to reaching its goal of a $1 billion portfolio by mid-2015 thanks to purchases in Gilroy, Calif., and Federal Way, Wash.
New Boston Fund, Asian CDC Land Financing for Mixed-Income Development in Boston
New Boston Fund and Asian Community Development Corp. land $114.7 million via HFF for a mixed-income development in Boston’s Chinatown.
Economy Watch: Pending Home Sales Edge Up
Positive signals for the single-family market emerge from both The NAR, which reports that pending home sales inched up during November, and Lender Processing Services, which reveals that U.S. home prices increased 0.8 percent year-over-year as of October.