News
Economy Watch: 200k+ Jobs Created in November
The U.S. economy created 203,000 jobs in November, according to the Bureau of Labor Statistics, roughly the same as in October, and a bit more than expected.
Architect Forms New NY Firm, Works on Multifamily
Martin Kapell, until recently a partner at WASA/Studio A, has formed a new architecture firm in Hudson Square in Lower Manhattan: think! architecture and design.
Aria Completes DC Apartment Renovation
Aria Development Group completed renovation on The Bond, making it into an 83-unit apartment community in Washington’s West End neighborhood.
TODAY’S DEALS: Campus Advantage Buys 850-Bed Student Housing Asset in Georgia
HFF arranges the sale of a newly built student housing property; Federal Capital Partners provides $10 million for a high-rise student housing asset in North Carolina; and Johnson Capital arranges a $6 million takeout loan for a newly constructed property.
Mark Bittenbender Joins Greysteel Capital Markets
Greysteel Capital Markets, a Washington, D.C.-based real estate finance firm, announced that Mark Bittenbender has joined the firm as director.
New Boston Fund and Asian Community Development Corp. Kick Off Construction on 362-Unit Mixed-Income Community
New Boston Fund Inc. and the Asian Community Development Corporation have announced the closing of financing and the beginning of construction on the mixed-income community One Greenway, located on Hudson Street in Boston’s Chinatown neighborhood.
Passco Companies Acquire Colorado Springs Community for $54M
Passco Companies has acquired the former Alexan at Briargate, a 332-unit Class A multifamily community located in Colorado Springs, Colo., which was rebranded as Vue21.
Economy Watch: New Home Sales Jump in October
The Census Bureau reported a spike in new home sales, with sales at an annualized rate of 440,000 units in October, compared with 354,000 units in September, which represents an increase of 25.4 percent for the month.
QR Capital Acquires Atlanta Apartments
QR Capital has acquired Collier Ridge Apartments, a 300-unit property in Atlanta. Located at 2121 Defoors Ferry Rd. NW, the property is on 39 acres and comprises 49 residential buildings that are about 94 percent occupied. The community was originally built in 1980.
TODAY’S DEALS: Alliance Residential JV Completes $160M Apartment Acquisition
JLL arranges a 549-unit sale in Coronado, Calif.; Capstone Real Estate Services lands a 10-property management gig; and Grandbridge finances a $27.8 million construction/permanent loan for the development of a seniors housing property.