News
Economy Watch: Apartment Market Weakens a Little, According to NMHC
The National Multi Housing Council reported that all four indexes of its October Survey of Apartment Market Conditions dipped below 50 for the first time since July 2009.
JB Matteson Buys Greater LA Apartments for $82M
JB Matteson has acquired Vanoni Ranch Apartments in Ventura, Calif., for $82 million.
Kearney Realty’s Poughkeepsie Commons Development Opens for Seniors, Homeless, Veterans
There are 71 more affordable housing units available to Poughkeepsie, N.Y., seniors, homeless people and disabled veterans thanks to the completion of Poughkeepsie Commons, a three-story community developed by The Kearney Realty & Development Group.
TODAY’S DEALS: Home Properties Sells Virginia Apartment for $68M
Transwestern represents Home Properties in a 334-unit sale; Harbor Group International completes a 528-unit disposition; and Pembrook Capital provides $7.5 million in preferred equity for a development in Brooklyn.
Tim Swafford of Chattanooga, Tenn., Named NAHB Remodeler of the Year
NAHB Remodelers, the remodeling arm of the National Association of Home Builders, named Tim Swafford, CGR, CAPS, CGP, of Swafford Construction in Chattanooga, Tenn., the 2013 Remodeler of the Year in recognition of his professional remodeling achievements.
Champion Commercial Structures Building North Dakota Apartments
A pair of much-needed apartment communities are coming to North Dakota’s Bakken oil formation to serve the exploding need for housing in the region.
Economy Watch: Residential Price Appreciation Slows Down
Home value specialist Zillow said that the pace of residential price appreciation nationwide slowed down in the third quarter of 2013, and it even turned negative in some markets.
Wood Partners Starts Apartment Development in Suburban Denver
Wood Partners has broken ground on Alta Cherry Hills, a 306-unit apartment community in suburban Denver. The infill project, which will include two five-story buildings on 4.6 acres, should be complete and open for leasing by summer 2014.
TODAY’S DEALS: LATA Acquires Four Multifamily Properties for $98.2M
Landmark Apartment Trust of America acquires 1,346 units; IPA arranges a San Antonio sale; and Dominium acquires a tax credit property in Colorado, adding to its affordable housing portfolio.
Spectrum and Pacolet Milliken to Develop Luxury Multifamily Community on Daniel Island, S.C.
Spectrum Properties Residential and Pacolet Milliken Enterprises Inc. have announced their intent to develop a luxury apartment community on Daniel Island, S.C.