News
MRI Software to Enhance Its VaultWare Reservation System’s Integration with Yardi
MRI Software announced today that it has signed an agreement with Yardi to create an officially supported integration between MRI’s VaultWare Apartment Reservation System and Yardi.
Economy Watch: Mortgage Rates Hit New Highs
Mortgage rates are continuing their upward creep, but the housing market still seems to soldier on in its recovery.
Hines-Managed Coca-Cola Building in Rio de Janeiro Becomes First to Receive LEED-EB Silver Certification in Brazil
The rise of green features and eco-friendly fixtures in the office market has affected the entire real estate world, and has created a push for not only developing new building incorporating the new technologies, but also refurbishing existing structures and making current properties more attractive.
New Income and Expense Data for Conventional Rental Apartments Reported in IREM Benchmarking Study
Gross possible rents for the four conventional rental apartment types examined (elevator; low-rise with 12 to 24 units; low-rise with 25-plus units; and garden) rose within a range of 1.6 percent and 4.0 percent in 2012 versus 2011.
TODAY’S DEALS: Centerline Refinances a Texas Student Housing Asset for $17.3M
Centerline refinances a student housing asset in Texas; Marcus & Millichap closes two sales in Oceanside, Calif.; and Delshah Capital sells a repositioned condo building to Aria Investment for $3.6 million.
Related Beal Announces Boston Condominium Building is Sold Out
Related Beal, a joint venture between Related Companies and The Beal Companies, announced that The Clarendon, a Boston high-rise condominium building that includes 103 units, is 100 percent sold.
Former Medical Offices Might Become Apartments
Diversified Asset Management has acquired Highland Tower in Kansas City, Mo., which currently includes about 116,500 square feet of office space, though most of it is vacant. The new owners are exploring the redevelopment of the property into mixed-use building with about 300 apartment units.
McShane Construction Company Completes Renovation of Affordable Apartments in Chicago Neighborhood
McShane Construction Company has completed the comprehensive rehabilitation and renovation of the Borinquen Bella Apartments, located in Chicago’s Humboldt Park neighborhood, on behalf of the Latin United Community Housing Association.
Crescent Communities Names Jay Curran as Vice President
Crescent Communities, a Charlotte, N.C.-based real estate investment, development and operations company, has named Jay Curran as vice president for the firm’s multifamily development in Georgia and Florida.
RosEuro Development Acquires Aura Shopping Center in Novosibirsk from Amstar and Renaissance
Amstar recently announced the sale of the Aura Shopping Center in Novosibirsk, Russia, to RosEuro Development.