News
TODAY’S DEALS: Meridian Capital Arranges $250M in Refinancing for New York Property
Meridian Capital Group LLC negotiated a $250 million mortgage for the refinancing of the Aire multifamily property; a Mack-Cali subsidiary buys a 159-unit asset from Landmark Cos.; and IPA arranges a 1,176-unit sale in suburban Philadelphia.
Magnusson Transforms Parking Lots into Affordable Housing
Magnusson Architecture and Planning (MAP) commenced on the construction of Soundview Family Housing last week in the Soundview neighborhood of Bronx, N.Y.
Data Shows Americans Moving Less; What This Means for Multifamily
Americans are on the move, though not as much as in recent years. According to the U.S. Census Bureau, 35.9 million U.S. residents (or 11.7 percent) moved between 2012 and 2013. This shows a decline from the 12 percent of Americans who moved in 2012.
‘What Renters Want’ with Jessica Fiur: How to [Not] Silence Negative Reviewers
A recent article on Businessweek.com defended threatening people who wrote false reviews about a company. Should property managers use the same tactics?
Ground Broken on Affordable Family Housing in The Bronx
Ground has been broken on Soundview Family Housing, immediately adjacent to Soundview Park in the Bronx. The eight-story building will house 120 low-income families, and is the first in a multi-phase development.
Economy Watch: Majority of States See Unemployment Rate Drops
The Bureau of Labor Statistics reported that 28 states had unemployment rate decreases in October compared with September, while 11 states and the District of Columbia saw increases and 11 states experienced no change.
Mack-Cali Buys NJ Apartment Property for $46M
Mack-Cali Realty Corp. has acquired Park Square, a two-building, 159-unit multifamily property in Rahway, N.J. The community, which includes a parking garage and about 6,000 square feet of retail space, traded hands for about $46.5 million.
TODAY’S DEALS: Veritas Acquires $100M in Multifamily Mixed-Use Properties in San Francisco
Veritas Investments Inc. announced the acquisition of a 14-property portfolio of multifamily mixed-use buildings in San Francisco; and Walker & Dunlop provides a $44.2 million bridge loan for Nashville apartments.
Crescent, Glimcher Move Forward with Construction of Crescent Scottsdale Quarter
Crescent Communities and partner Glimcher Realty Trust have announced the ground breaking on a $61 million, 275-unit luxury rental community in the North Scottsdale retail hub, Scottsdale Quarter.
WinnCompanies adds Worcester City Manager O’Brien as Executive VP
WinnCompanies, a real estate development and property management company, announced that Michael O’Brien has been hired as executive vice president.