News
Melos Group Tops Off Miami Apartment Development
Flagler on the River, a rental tower currently under development by the Melo Group, recently topped-off construction at 32 stories.
TODAY’S DEALS: Kennedy Wilson, Capri Capital Buy Suburban Seattle Apartments
An apartment in Bothell, Wash., trades for $45.8 million; Waterton Associates completes a 100-unit purchase in New Jersey; and a Hollywood micro-unit building trades for $14.75 million.
Construction Begins on The Picerne Group’s 198-Unit Multifamily Development in Cerritos, Calif.
The Picerne Group has announced that it has broken ground on its latest development, Aria. The Class A 198-unit residential community will be located at the cross streets of Bloomfield Avenue and Artesia Boulevard across the street from the Cerritos Towne Center.
Wood Partners Promotes Two to Construction VPs for the East & West Divisions
Wood Partners announced that it has promoted Phillip Vetter and Eric Fisher to the position of vice president of construction.
Tavivian Sporn to Handle Exclusive Leasing at 15 West 55th, 70 West 45th
Assa Properties has selected the Tavivian Sporn Team at Douglas Elliman Real Estate to handle exclusive leasing for new inventory at 15 West 55th Street and 70 West 45th Street in Manhattan.
Economy Watch: Housing Price Appreciation Slows
S&P Dow Jones Indices reported that its S&P/Case-Shiller Home Price Indices were up 13.5 percent and 13.2 percent year-over-year, respectively, for its 10- and 20-city composite indexes in January.
MHN Interview: Kelly Osburn, Market Leader of Multifamily at BSB Design
Kelly Osburn now directs all the business activities of the Multifamily Group within BSB Design for marketing, operations, financial performance and growth. His multifamily experience includes over 20 years of hands-on involvement with all levels of multifamily rental product, a detailed understanding of density and its impact on product design, rental community club facilities, government housing programs, and high density urban infill projects. Osburn’s extensive and varied experiences have provided him with strong knowledge in multifamily project development, site evaluation and the supervision and management of project management teams. Osburn spent more than 20 years at Humphreys and Partners Architects….
MARKET SNAPSHOT: Smooth Sailing in Florida as Apartment Prices Continue to Rise
Debt and equity sources, along with wealthy individuals, actively continue to seek deals for individual units and entire projects. Increased competition is pushing down yields, especially in Miami due to a rising number of foreign investors.
Israeli Investor Clal Buys NJ Apartment Property
Clal US Waterton Associates have acquired Infinity Apartments, which is on Old River Rd. in Edgewater, N.J., for $48 million.
Gilbane Breaks Ground on New Student Housing in Ames, Iowa
Gilbane Development has announced that it has officially entered the Ames, Iowa student housing market with the ground breaking of 23 Twenty Lincoln, a 320-bed student community that will serve the student population of Iowa State University’s campus in Ames.