News
Pembrook Capital Management Provides $7.5M for Brooklyn Community
Lincoln Park, a Brooklyn development consisting of two apartment buildings totaling 133 units, has obtained $7.5 million in equity financing for its construction from Pembrook Capital Management.
Crescent Heights Acquires The Strand in Record-Breaking Jacksonville, Fla., Sale
The CBRE Jacksonville Multi-housing Group has brokered the sale of The Strand, a 295-unit waterfront high-rise apartment building in Jacksonville’s Southbank District to Miami-based Crescent Heights for a record breaking $53.3 million.
TODAY’S DEALS: Diversified International, Alliance Residential Buy a Tempe Asset
Transwestern brokers a 84-unit sale in Tempe; and CBRE/New England arranges a $21.5 million sale in Boston.
Economy Watch: Jobs Report Mediocre Throughout
The delayed U.S. employment report for September from the Bureau of Labor Statistics turned in a modest 148,000 new jobs for the month and noted a downtick in the unemployment official rate, from 7.3 percent to 7.2 percent—though that was mostly because of a small decline in workforce participation.
Duravit Announces Designer Dream Bath Winner
Duravit has selected the winning projects for its first design competition, the Duravit Designer Dream Bath Competition.
Brian Klansky Joins US Energy Group’s Executive Leadership Team
U.S. Energy Group announced the expansion of the company’s executive leadership team to include Brian Klansky as senior vice president of sales.
Dr. Amy E. Alving Elected to Fannie Mae Board of Directors
Fannie Mae today announced that the Board of Directors has elected Amy E. Alving to the company’s Board.
Bozzuto Starts Work on Long-Delayed D.C. Condo Project
A joint venture between Bozzuto Group and NVCommercial Real Estate Fund I has started work on 460 New York Avenue, a 63-unit condo development in Washington, D.C.
Five IREM Members Honored with Professional Achievement Awards
The Institute of Real Estate Management (IREM®) recently honored five long-time members with its “Professional Achievement” Award.