News
Economy Watch: Mortgage Delinquencies Drop
Fannie Mae reported on Friday that the single-family serious delinquency rate for the mortgages that it owns and insures dropped in May to 2.83 percent from 2.93 percent in April, down to the lowest level since January 2009, when delinquencies were on the way up.
The Ins & Outs of Multifamily Eviction
How to avoid legal nightmares when the landlord-tenant relationship breaks down.
Work Under Way on San Francisco High-Rise Condos
Tishman Speyer and China Vanke have broken ground for Lumina, a mixed-use project at Main and Folsom streets in downtown San Francisco, near the waterfront. The development will include 655 condo units, along with retail and parking.
TODAY’S DEALS: CBRE Global Investors Acquires D.C.-Area Community
CBRE buys a 413-unit asset in Ashburn, Va. and HFF provides a $13.8 million mezzanine loan for an Edwards Companies development.
Lennar Multifamily Awards Greystar Student Living Management of 343-Bed Student Community
Greystar Student Living, the student housing subsidiary of Greystar Real Estate Partners, will manage The Crest at Pearl, a student housing community in the West Campus area of Austin, Texas, according to Lennar Multifamily, a real estate investment program started by the Lennar Corporation.
Boston’s Parcel 24 Development to be Called One Greenway
The joint venture development to be sited on Parcel 24 in Boston has been named One Greenway. The New Boston Fund Inc. and the Asian Community Development Corporation (ACDC) made the announcement.
Economy Watch: Pending Home Sales Continue Rising
The National Association of Realtor’s Pending Home Sales Index, a forward-looking indicator based on residential contract signings, but not closings, increased 6.7 percent to 112.3 in May from 105.2 in April.
Select Property Announces Sale of Most Residences at West Avenue in Dubai Marina
Just five months after launching the project, Select Property has sold over 90 percent of the units at West Avenue, the first new residential tower in Dubai Marina since 2008.
Seniors Housing Development Nears Completion in Metro Cleveland
Work is nearly complete on Emeritus at Newell Creek, a seniors housing property in Mentor, Ohio.
MHN Interview: How Apartment Communities are Raising Money for Breast Cancer Research
The Cure Breast Cancer Foundation, a Clifton, N.J.-based organization, is now in the fourth year of its Lease for a Cure program. MHN talks to Andrew Abramson, treasurer and co-founder, and Lindsay Brook Weiss, director of events and special projects, about how apartment communities can help raise money for breast cancer research.