News
Economy Watch: Housing Starts Up in July
Housing starts continued their upward trajectory in July, with private starts coming in at an annualized rate of 896,000 units, a 5.9 percent increase compared with June, the Census Bureau reported.
Hell’s Kitchen Transformation Underway with Gotham West Opening
This month marks the highly anticipated opening of Gotham West, the 32-story, 554-unit luxury apartment community in Hell’s Kitchen. Surrounded by 10,000 square feet of landscaped outdoor space, Gotham West is located at 550 West 45th St. on the corner of 11th Ave., and was developed by Gotham Organization, Inc., a company no stranger to Hell’s Kitchen.
TODAY’S DEALS: NorthMarq Arranges $23.25M Life Insurance Company Loan with Advance Rate Lock
NorthMarq Capital brokers first mortgage refinancing of $23.25 million for Woodlake Apartments in Gurnee, Ill.; and Los Angeles County apartment complex changes hands at $9.9 million.
TODAY’S DEALS: HFF Arranges $33.05M Sale on Behalf of Prime Residential
HFF announced that it has brokered the sale of The Artisan, a 434-unit, garden-style community in Denver; and Alliant Capital closes on a $1.2 million refinance.
BDG Architects and Urban Studio Architects Join Forces to Create New Design Firm
The firm’s name will be BDG Architects and the corporate headquarters office will be in Tampa. Chris Kirschner AIA, NCARB, LEED AP will be the president of the firm.
American Campus Communities Offers Faster Internet Service to Callaway House Residents
The Callaway House Austin, a new off-campus community serving University of Texas at Austin students, will offer unprecedented Internet service of up to one Gigabit per second per resident.
Related Midwest Opens Dog Friendly Apartment Building in Chicago
Related Midwest has opened 500 Lake Shore Drive, a luxury apartment building in Chicago’s Streeterville neighborhood, which caters to dog owners and their pets. Residents can utilize the building’s Dog City, Related Midwest’s on-site pet care service that offers everything from dog walking and pet sitting to grooming services, routine vet visits and pet training.
TODAY’S DEALS: Essex Property Trust Sells Calif. Apartment for $138M
IPA brokers a 400-unit sale in California; NorthMarq Capital arranges $52.3 million for an apartment acquisition in Austin; and Franklin Street closes on a $8.5 million, 10-year, loan, at 3.96 percent interest for the first two years.