News
TODAY’S DEALS: Tricap, National Equity Buy 354 Luxury Units in Columbus
Tricap Residential Group and National Equity buy two Ohio apartment assets; Charles Dunn Co. completes a 22-unit sale in Santa Monica; and NorthMarq arranges $143.4 million in refinancings for eight apartment loans.
Millennials are ‘Renter Generation,’ Study Reports
When the Great Recession struck in 2008, the Millennial Generation was among the hardest hit. Caught in a plummeting economy characterized by enormous job cuts and limited new hiring, these underpaid and unemployed new-to-the-workforce folks didn’t have the economic wherewithal to move out on their own as previous generations did.
ULI Special Report: D.C. Falls in Investors’ Eyes
The 2014 Emerging Trends in Real Estate report contained few surprises, but traditionally durable Washington, D.C.’s drop to No. 22 in the ranking of cities with the best investment activity spoke volumes about the uncertainty the federal government has produced.
Hines Prepares to Open WaterWall Place in Houston
Hines, the owner and developer of WaterWall Place in Uptown Houston, has started pre-leasing the property.
Economy Watch: Jobs Uptick in October
The delayed jobs report for October came out on Friday, with the Bureau of Labor Statistics finding that the economy created 204,000 jobs during the month, an improvement from the September, and more than the average monthly growth for the last previous 12 months of 190,000.
Boyd Management Inc. Adopts Yardi SaaS Select Platform and Adds Online Procurement and Payment Processing
Yardi announced today that Boyd Management Inc. (BMI), an affordable housing management firm based in South Carolina, has begun the process of upgrading its software and database hosting service to Yardi SaaS Select.
Chinese Developer Plans $7.8 Billion Financial Hub in South Africa
Hong Kong-based developer Shanghai Zendai Property Limited is planning to transform a Johannesburg suburb into a global financial hub.
Oxley Holdings Limited Acquires Largest London Mixed-Use Site Since Battersea Power Station
Knight Frank LLP recently announced that Singapore-listed property developer Oxley Holdings Limited has acquired Royal Wharf, the largest mixed-use site in London since Battersea Power Station. Knight Frank LLP, acting for Ballymore Group, identified Oxley as a key buyer.
TODAY’S DEALS: Security Properties Coinvests in Multifamily Fund
Security properties closes a 2,471-unit fund, sells first asset; an affiliate of True North Capital Partners acquires two Massachusetts apartments in a sale brokered by CBRE/NE; and Meridian negotiates financing for New York communities.
CBRE Brokers the First Sale of Urban, Class A Apartments in Minneapolis-St. Paul Since 2008
Dallas-based L&B Realty Advisors has purchased the Lake Calhoun City Apartments in Minneapolis for $37.25 million.