News
Economy Watch: Chicago Fed National Activity Index Sees Uptick
The Chicago Fed reported that its National Activity Index (CFNAI) increased to –0.30 in May from –0.52 in April, noting that production- and employment-related indicators drove the uptick.
Work Begins on Multifamily Redevelopment in East Dallas
Prescott Realty Group, in conjunction with the city of Dallas, has restarted two projects located near Lake Highlands Town Center in East Dallas that were delayed by the late 2000s downturn in the local real estate market.
Carroll Organization Acquires Second Community in Jacksonville, Fla.
Carroll Organization and investment partner NorthStar Realty Finance Corp. have acquired multifamily community Paddock Club in Jacksonville, Fla., their second major acquisition in the area within the past two months.
TODAY’S DEALS: PREI Sells Arizona Asset for $11.5M
Colliers brokers PREI’s sale of a 192-unit asset; and Marcus & Millichap handles a large portfolio sale in Atlanta.
Behringer Harvard REIT I Inc. Announces New Name
Behringer Harvard REIT I Inc., a Dallas-based real estate investment trust, has announced a new name—TIER REIT Inc.
Connecticut’s Augustana Homes Preserved as Affordable
Augustana Homes, a 186-unit affordable senior apartment community in Bridgeport, Ct., will receive $4 million in improvements and renovations, and will be preserved as affordable for an additional 30 years.
Economy Watch: Most State Unemployment Rates Down
Twenty-five states had unemployment rate decreases, 17 states had increases and eight states and the District of Columbia had no change, the Bureau of Labor Statistics reported.
New Apartments in Brooklyn to Begin Leasing
Leasing will begin later this summer at 50 North 5th St., a newly constructed 229-unit rental property in the Williamsburg neighborhood of Brooklyn. Mack Real Estate Capital Group and Urban Development Partners developed the project, which was formerly known as 204 Wythe Ave.
TODAY’S DEALS: Berkeley Point Capital Provides $10.4M Refi for Affordable Asset
Berkeley Point Capital provides $10.4 million to refinance a Class C community; and Walker & Dunlop arranges $60.7 million for five off-campus student housing properties.
‘What Renters Want’ with Jessica Fiur: How to Appeal to Helicopter Parents During Apartment Tours
Here are some ways to appeal to parents of people who are looking at apartments.