News
TODAY’S DEALS: Alex. Brown, Chartwell Acquire 383-Unit Apartment in Charlotte
ARA brokers a $23.8 million sale in Charlotte; CBRE/New England’s Capital Markets team completes a $22.3 million sale in Plymouth, Mass.; and NorthMarq’s Kansas City Office arranges $29 million in financing for two properties.
Record High 291 Housing Markets Listed as Improving in September, According to NAHB
A total of 291 metropolitan areas across the country now qualify as improving housing markets, according to the National Association of Home Builders/First American Improving Markets Index (IMI) for September.
More Than 80 Percent of The Leonard Under Contract
The Leonard luxury condominium is more than 80 percent under contract, less than two months after sales were launched at the Northeast Tribeca property.
Economy Watch: The Economy Creates 169k Jobs in August
The Bureau of Labor Statistics reported on Friday that the U.S. economy created 169,000 jobs in August, lower than the average increase for the last 12 months, which is 184,000.
TODAY’S DEALS: Berkeley Point Capital Executes $325M Refinance on San Francisco Apartment
Berkeley Point Capital closes the largest single-asset loan in its history; Marcus & Millichap sells a 116-unit community in South Carolina; and Henry S. Miller brokers sale of property in Texas.
Prologis Inc. Continues European Expansion with Three New Developments Announced in the UK
San Francisco-based Prologis Inc. recently announced it would begin development on three buildings with a total of more than 700,000 square feet in the United Kingdom.
World’s First Forbes-Branded Office Tower to Rise in the Philippines
Forbes Media has chosen the Philippines as the site of the world’s first Forbes-branded office high-rise. The company has partnered with local developer Century Properties Group Inc. to build the approximately 646,000-square-foot Forbes Media Tower(R) in Makati, a suburb of Manila.
JV Plans Denver High Rise
A partnership of developers has unveiled plans for a 34-story high-rise apartment in Denver. Development partners include PM Realty Group (PMRG), National Real Estate Advisors (NREA), and Ray Suppa, a founder of several real estate-related companies who has developed property in Denver for over 20 years.
Micro Units: Living Large in Small Spaces
An acute lack of inventory and soaring rents are providing New York City developers with an opportunity to turn the concept of living in small apartments into an art form. One such developer organization, LifeEdited, was launched in 2009 by Graham Hill, a trained architect turned entrepreneur who believes in simplifying life and living large in tiny spaces. LifeEdited began as a “crowd-sourced” micro design competition that invited proposals for a 420-square-foot SoHo apartment owned by Hill.
Prime Property Investors to Develop Houston Apartment Community
Prime Property Investors has entered into a joint venture with Trammel Crow of Dallas to develop a 346-unit Houston apartment community called Alexan at Auburn Woods