News
India’s First Ascott-Branded Serviced Residence Announced
Ireo, India’s first and largest private equity fund dedicated to the Indian real estate market, recently announced it has entered into management agreements with serviced residence provider, The Ascott Limited, for India’s first Ascott-branded serviced residence in the master-planned Ireo City community in Gurgaon.
Historic Parisian Hotel Reopens as Starwood Hotels Continues to Unveil Restored Properties in Luxury Collection Brand
A massive renovation of one of the city’s most intriguing hospitality properties was recently re-opened.
TODAY’S DEALS: NorthMarq Arranges $32M for California Construction
NorthMarq arranges construction financing for a JV development; Korman Communities sells a 124-unit community with help from HFF; and Crescent Communities buys two acres for a TOD development in Orlando.
Lutz Real Estate Investments Acquires Student Housing at Baylor University
Lutz Real Estate Investments has partnered with Harrison Street Real Estate Capital on the purchase of Abbey Glenn Apartments, a student housing community that sits near Baylor University in Waco, Texas.
Economy Watch: First Quarter GDP Revised Downward
Real gross domestic product increased at an annualized rate of 1.8 percent in the first quarter of 2013, according to the third and final estimate by the Bureau of Economic Analysis.
K2 Reports Leasing Surge
Another bit of evidence (if any is needed) that the demand for apartments is still brisk in Chicago: K2, a new 496-unit apartment tower in Chicago’s Near West Side, has managed to ink 125 leases in the two-and-a-half months since leasing started, according to co-developer Fifield Cos.
SPECIAL REPORT: Key Advice for Underwriting Apartment Properties
When acquiring apartments, be skeptical of any and all statistics that are provided to you. That was one piece of advice given to the audience during an educational session at the National Apartment Association 2013 Education Conference and Exposition.
RFR Announces New Units at New York Luxury Condominium
RFR Holdings LLC announced that is it has released additional residences for sale at its condominium 530 Park Avenue in New York. The new units include a 5,500-square-foot, five-bedroom condo and a full-floor townhouse with more than 11,000 square feet.
TODAY’S DEALS: HFF Arranges $191M in Construction Financing for Boston Mixed-Use Development
HFF arranges construction financing from a life insurance company for The Van Ness, located in Boston; Preferred Apartment Communities completes a Virginia purchase; and Greystone provides $30 million for two properties in Texas and Tennessee.
MBA: Independent Mortgage Banker Profits Decrease in the First Quarter as Volumes Decline
Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $1,772 on each loan they originated in the first quarter of 2013, down from $2,256 per loan in the fourth quarter of 2012, as production volume declined, the Mortgage Bankers Association reported.