News
Presidio Apartments Becomes Bell Lake Creek after Bell Partners Acquisition
The Austin Presidio Apartments community has been acquired by the investors from Bell Partners Inc. on May 30th. The transaction cost has not been made public, but the property, which will stay under the management of Bell Partners, will change its name into Bell Lake Creek.
Barwa Real Estate Unveils Plans for $5.5 Billion Mixed-Use Resort in Qatar
Barwa Real Estate has launched a $5.5 billion residential and resort project slated to rise on an artificial island off the coast of Doha.
Oil-Fueled Norwegian Fund Continues Worldwide Shopping Spree with UK Industrial Portfolio Acquisition
LondonMetric Property Plc, a real estate investment trust, has recently completed the sale of its stake in a large distribution portfolio to a joint venture between U.S.-based Prologis’ European branch and Norges Bank Investment Management.
Boston Becomes 8th U.S. City to Require Water, Energy Disclosures
Boston has joined seven other U.S. cities in requiring building owners to disclose energy and water usage of their real estate assets.
Economy Watch: U.S. Gains 175k Jobs in May
The Bureau of Labor Statistics reported on Friday that the U.S. economy created 175,000 jobs in May, compared with a rise of 149,000 in April, which was a surprise on the upside.
CIS Selected to Help Develop Post-Disaster Response Best Practices
Enterprise Community Partners has selected multifamily specialist Community Investment Strategies Inc. as the latest participant in its Hurricane Sandy Recovery and Rebuilding Program.
TODAY’S DEALS: ARA Closes Two JV Equity Raises and Three Acquisition Financings
ARA closes a series loans in Texas; Carroll Companies completes a disposition in South Carolina with help from HFF: and NorthMarq Capital arranges $15.51 million in mortgages for two properties.
APARTMENT MARKET STATISTICS: June 2013
Bank lending increased across the board for multifamily properties and income-producing commercial real estate, according to Chandan Economics. Overall, the recent permit numbers have been strong enough to support a five-plus starts rate in range of 285,000 over the next couple of months, stated the National Association of Home Builders.
Kent Mehring Joins WNC as Vice President, Asset Management
WNC, a national investor in real estate and community development initiatives, announced that Kent Mehring has joined the firm as vice president, asset management.