News
Rent Recovery Solutions Offers New Collections Service to the Multi-Family Property Industry
Rent Recovery Solutions LLC (RRS), a specialized collections agency focused solely on the needs of the multifamily property industry, announced that it is fully integrated with Yardi Systems Voyager Software.
Economy Watch: Memorial Day Weekend Travel Edges Down
Ahead of the holiday weekend, AAA estimated that 34.8 million Americans would travel more than 50 miles from home during the period from May 23 to May 27.
South Orange Mixed-Use Property Under Way
Ground has been broken for The Gateway, a mixed-use property in South Orange, N.J. The development will include 57 one- and two-bedroom apartment units, as well as about 9,100 square feet of high-end retail space.
TODAY’S DEALS: Walker & Dunlop Arranges $12.4M for Iowa Independent Living Facility
Walker & Dunlop provides $12.4 million for an independent living asset in Iowa; and Beech Street Capital closes $18 million for an Orlando acquisition.
Shea Apartment Communities Announce New Calif. Community Already 25 Percent Occupied
Shea Apartment Communities announced that The Artisan Apartments at East Village in Oxnard, Calif., which opened their leasing center three months ago, is already 25 percent occupied and 32 percent leased.
Braeburn Estates’ Master Planned 1.45-Million-Square-Foot Shell Centre Redevelopment Approved
The planning application submitted by Braeburn Estates, a joint venture between Canary Wharf Group and Qatari Diar to redevelop the Shell Centre on London’s South Bank, has been approved by the London Borough of Lambeth.
Economy Watch: New Home Sales Up in April
The Census Bureau reported on Thursday that new home sales were at an annualized rate of 454,000 units in April, up from 444,000 in March, which was revised upward from 417,000—an unusually strong revision. The bureau revised the February and January totals up significantly as well.
MAA Buys Second Apartment Community in Fredericksburg
MAA has completed its acquisition of Station Square at Cosner’s Corner, a 260-unit apartment property in Fredericksburg, Va., for an undisclosed price. The seller was the property’s developer, Johnson Development Associates, and includes an undeveloped parcel.
Western National Property Management to Manage Hutton Company’s Calif. Community
Western National Property Management announced it has been selected to manage the Hutton Companies’ new community The Paseos at Magnolia, which is located in Riverside, Calif.
Special Report: The Money Market
Real estate investment is increasingly becoming a global business, with widening competition as more players place money around the globe. Depending on investment goals, players may be drawn to the recovering U.S. markets or the lagging European markets.