News
Trade Street Residential Pays $44M for Memphis Luxury Apartments
Florida-based Trade Street Residential Inc. has announced the acquisition of the 330-unit Miller Creek at Germantown luxury apartment community for $43.8 million from LIV Development LLC—formerly known as Red Mountain Development.
Wood Partners Makes Top Leadership Changes
Wood Partners L.L.C., a major national multifamily development specialist, is making a number of changes to its upper management, including a new chairman of the board of directors, and a new president, who will also be chief financial officer.
LandSouth Construction Begins Projects in Tennessee, Florida
LandSouth Construction, a general contractor that focuses on multifamily developments, has begun building two new projects. They are Integra Preserve, an upscale apartment community in Collegedale, Tenn.; and American House, a senior living community in Bonita Springs, Fla.
Economy Watch: Existing Homes Sales See Best Year Since ’06
The National Association of Realtors reported on Thursday that total U.S. existing home sales increased in December by 1 percent to an annualized rate of 4.87 million units – that includes single family, townhouses, condos, and co-ops — from 4.82 million units in November.
Development & Design: Trends
MHN takes a look ahead at next-generation apartment features that renters will demand.
Wood Partners Breaks Ground on Miami Apartments
Wood Partners L.L.C. has broken ground on Alta Dadeland, a $128 million mixed-use development with 431 apartment units and 2,000 square feet of retail space next to the Dadeland Mall. The development will also be close to two Metrorail stations.
TODAY’S DEALS: Johnson Capital Arranges a $29.66M Construction-Permanent Loan
Johnson Capital secures a $29,660,000 construction-to-perm FHA Section 221(d)(4) loan; and Henry S. Miller Cos. brokers sale of 77 acres of land.
The Beach Company and MWV Developing Summerville, S.C. Community
The Beach Company and MWV have formed a joint venture to develop Parks at Nexton, a planned 320-unit apartment community in the 4,500-acre Nexton community in Summerville, S.C.
Economy Watch: Chief Executives More Upbeat
The nation’s CEOs are somewhat more confident about their businesses’ prospects than they used to be, according to annual PricewaterhouseCoopers survey of more than 1,300 chief executives, which was released on Wednesday.
Jacksonville Apartment Market Podcast
Pierce Eislen’s Ron Brock Sr. and MHN’s research editor Jack Kern discuss Jacksonville apartment market fundamentals in this edition of our market research podcast.