News
APARTMENT MARKET STATISTICS: January 2014
Returns from multifamily property investments fell in the third quarter of 2013, according to the National Council of Real Estate Fiduciaries. Returns from commercial real estate as a whole, however, increased to 2.57 percent.
New Development to Redefine Luxury in Denver’s Upscale Cherry Creek Neighborhood
CBRE has brokered a $92 million construction loan for BMC Investment’s development of a 218-unit luxury high-rise in Denver’s Cherry Creek neighborhood that will likely set a new price-per-unit record in the market.
TODAY’S DEALS: Greystone Closes $54.5M Bridge Loan for Hamptons Skilled Nursing Acquisition
Greystone closes a bridge loan for a 280-unit skilled nursing facility; Hybrid Capital arranges $12 million for an affordable housing asset in Camden, N.J.; and Waypoint Residential acquires a Tennessee apartment community.
Washington Property Co. Opens 232 Units in Suburban D.C.
Though a few finishing touches remain, residents are now moving into Solaire Wheaton, a LEED Silver certified TOD community in suburban Washington, D.C.
Meeks + Partners-Designed Elan City Centre in Dallas Completed
Greystar’s newest Dallas development has opened. The asset was designed by Meeks + Partners and features luxurious amenities and modern floor plans.
Economy Watch: Home Prices Still Rising on Annual Basis
Year-over-year home prices up 13.7 percent and state unemployment rates edge down.
MARKET SNAPSHOT: Demand in Houston Remains Strong as Economy Prospers
Strongly supported by a thriving energy sector as well as a robust multifamily industry, Houston’s economy is expected to experience further growth throughout 2014.
Stillman and Ceruzzi Plan Manhattan High-Rise
Stillman Development International and Ceruzzi Properties acquire 151 E. 86th on Manhattan’s Upper East Side with the intent to erect a 21-story condo and retail tower.
Perspective: The Military Housing Privatization Initiative is at Risk
Federal budget cuts could reduce housing allowances for military personnel, affecting apartment firms with boots on the ground in those communities.
Cozy Up to the Newest Fireplace Trends
On a day like today, it would sure be nice to curl up next to a fireplace with a warm drink after work. The community fireplace, both indoors and out, is a tried and true crowd pleaser when it comes to amenities.