News
Economy Watch: Holiday Spending Rises Compared With ’12
Holiday spending rises 2.3 percent compared to last year, perhaps because consumers had a bit more money to spend.
Tryko Partners Acquires Affordable Housing Community in Pennsylvania
New Jersey-based Tryko Partners acquires an 86-unit affordable housing community in Leechburg, Pa.
TODAY’S DEALS: Berkshire to Acquire Two Apartment Assets for $120M
Berkshire Income Realty to acquire 588 units; Hudson Capital Investments buys a community outside Houston; and Beech Street Capital provides $7.4 million for a Florida acquisition.
Crescent Developing 556-Acre Master-Planned Asset Outside Charlotte
Crescent Communities is developing a 556-acre, master-planned community in York County, S.C., that is the company’s first new residential project in the Charlotte area in five years.
Philly Investor GoldOller Buys 1,200 Units in Metropolitan Atlanta
GoldOller Real Estate Investments acquires six rental properties in metropolitan Atlanta in a transaction valued at $87.3 million.
Economy Watch: New Home Sales Down in November
Single-family sales dip in November, while durable goods orders surge 3.5 percent. More good news comes from The Federal Reserve Bank of Philadelphia, which reports that its coincident indexes for November increased in 46 states.
Stahl Begins Lease-Up at Brooklyn’s Tallest Residential High-Rise
Leasing has started at the rental units of 388 Bridge Street, a 378-unit multifamily development in Downtown Brooklyn that is the borough’s tallest residential high-rise.
TODAY’S DEALS: Stockbridge Capital Group Refinances 336-Unit Asset
HFF arranges refinancing for a community in Pasadena, Md.; Madison Realty Capital acquires an $18 million mortgage portfolio; and Great Lakes Capital invests $4.8 million in a new affordable housing development.
MHN Interview: John Isakson, Preferred Apartment Communities
MHN talks to John Isakson, chief capital officer at Preferred Apartment Communities, about the company and multifamily issues that legislators should be aware of.
Praedium Group Acquires South Blvd. Apartments in Las Vegas
New York-based Praedium Group acquires a 320-unit Class A community in Las Vegas for $41.9 million. The 2012-built asset was 93 percent leased at the time of sale.