News
JP Morgan Unit Acquires Massachusetts Luxury Apartment for $63.1M
Institutional investors advised by J.P. Morgan Asset Management acquire Reading Commons, a 204-unit luxury apartment community located 10 miles north of Boston in Reading, Mass.
Economy Watch: Case-Shiller Home Prices Up in October
Newest S&P/Case-Shiller Home Price Indices show the highest year-over-year gains since February 2006, and consumer confidence rebounds in December.
TODAY’S DEALS: Kislak Completes $14.8M Sale of Foreclosed Apartments by Insurance Co. Affiliate
The Kislak Company Inc. brokers a $14.8 million distressed sale; and Marcus & Millichap completes a $1.9 million sale in Norfolk, Va.
TruAmerica Contiues to Grow with Two Class A Acquisitions
TruAmerica Multifamily is two steps closer to reaching its goal of a $1 billion portfolio by mid-2015 thanks to purchases in Gilroy, Calif., and Federal Way, Wash.
New Boston Fund, Asian CDC Land Financing for Mixed-Income Development in Boston
New Boston Fund and Asian Community Development Corp. land $114.7 million via HFF for a mixed-income development in Boston’s Chinatown.
Economy Watch: Pending Home Sales Edge Up
Positive signals for the single-family market emerge from both The NAR, which reports that pending home sales inched up during November, and Lender Processing Services, which reveals that U.S. home prices increased 0.8 percent year-over-year as of October.
WholeLife Buys San Antonio Site for Seniors Housing
WholeLife Cos. acquires the site for a $55 million seniors housing community it is building northeast of San Antonio.
Wood Partners Moves Forward with Construction in Germantown, Md.
Wood Partners has broken ground on Alta Liberty Mill, a $60 million, 304-unit community in Germantown, Md.
TODAY’S DEALS: Centerline Arranges $186M for Texas Portfolio Acquisition
Centerline provides financing for a nine-property purchase by Gaia Real Estate; Behringer Harvard and PGGM expand their co-investment relationship; and Houlihan-Parnes brokers a $600,000 non-recourse refinance loan carrying a five-year term.
Newcastle Acquires $1B Seniors Housing Portfolio From Holiday
Newcastle Investment Corp. completes a $1 billion acquisition of 51 independent living seniors housing properties from an affiliate of Holiday Acquisition Holdings.