News
Economy Watch: Construction Spending Edges Up, No Thanks to Sequestration
Construction spending saw an uptick of 0.6 percent in July compared with June, according to the Census Bureau.
South Street Partners Spurs Interest in Luxury Condos with Enticing Contest
Luxury finishes, ocean views and the possibility of winning a new car are credited to almost selling out North Beach Towers, a new condominium community in North Myrtle Beach, S.C. Currently, only 40 units remain of the 337 units total.
Rutherford Investments’ Multifamily/Mobile Home Portfolio Obtains $174M in Financing
Rutherford Investments has obtained $174 million in financing for a multifamily and mobile home park portfolio that the company owns in California.
Senior Lifestyle Developing Retirement Community in Northbrook, Ill.
Senior Lifestyle is developing North Shore Place, a five-story retirement building in Northbrook, Ill., that is set to open in summer of 2014.
VennCap Real Estate Selects Yardi Voyager for Real Estate Asset and Property Management in Australia
Yardi®, a developer of software solutions for the real estate investment, asset and property management industry, announced today that VennCap Real Estate Pty Ltd (VennCap) has selected Yardi Voyager® for their real estate asset and property management operations.
Economy Watch: Serious Mortgage Delinquencies Continue to Drop
Fannie Mae reported that the single-family serious delinquency rate for mortgages and it owns or insures declined in July to 2.7 percent from 2.77 percent in June.
TODAY’S DEALS: Greystar Acquires $460M Portfolio
Greystar acquires 4,371 units from Inland; IPA completes a bulk condo sale in Yonkers, N.Y.; and Beech Street Capital provides $36.5 million for an Alabama apartment asset.
MHN Exclusive: Trade Street Residential Expands Charleston Presence with $48M Apartment Acquisition
Trade Street Residential continues to display its penchant for well-located, high-quality, Class A assets in the South East. The apartment REIT has just completed its third acquisition since its IPO in May.
Epoch Plans Expansion of Austin Apartments
Epoch Properties has unveiled plans for the second phase of Monterra, an apartment community in Austin, Texas. It will include 11 three-story garden apartment buildings and five two-story carriage apartment buildings, with a total of 256 units.
LDG Development Breaks Ground on $21M Affordable Austin Community
LDG Development announced the ground breaking of a new 228-unit affordable community in Austin, Texas.