News
New Hansgrohe Handshowers Feature Push-Button Spray Modes
Bathrooms play an increasingly important role in landing and retaining renters. They, along with kitchens and community amenities, are a focus of any smart renovation or value-add play. But unlike your asset’s kitchens, bathrooms are guaranteed to see daily use. No matter what market a community is in, all renters start their day in the exact same way: with a shower.
TODAY’S DEALS: Behringer Harvard Acquires Houston-area Apartment
Behringer Harvard completes a 240-unit buy in Sugar Land; AEW buys a Durham asset from a Greystar JV; and Meridian Capital negotiates financing for six multifamily properties in New York.
Praxis Capital Acquires Whispering Oaks in Suburban Houston
Whispering Oaks Apartments, a 140-unit property in the Houston suburb of Conroe, Texas, has been acquired by Santa Rosa, Calif.-based Praxis Capital LLC.
Oak Grove Capital Provides $55.64M For Three Minn. Communities
Oak Grove Capital recently originated three HUD 223(f) loans totaling $55.64 million to refinance three multifamily communities in the Twin Cities area of Minnesota.
TODAY’S DEALS: Large Texas Apartment Community Trade Hands
Marcus & Millichap completes a 720-unit sale; Centerline provides a $1.1 million refinance for an affordable asset in Mississippi; and Berkeley Point Capital facilitates $12.5 million for an acquisition.
APARTMENT MARKET STATISTICS: August 2013
Apartment prices continue to increase. According to PPR/Costar, price per unit of apartments in the first quarter was $147,257—increasing from $110,380 in the fourth quarter.
‘What Renters Want’ with Jessica Fiur: Stop Giving Cutesy Gifts to New Residents
Welcome gifts are great, but you’ll get a better response from practical items than from ‘cute’ ones.
MassHousing’s David Keene Elected as VP of National Leased Housing Association’s Board of Directors
MassHousing’s David Keene has been elected to serve a one-year term as vice president on the National Leased Housing Association Board of Directors.
First Ritz-Carlton Hotel in Israel Confirms Late 2013 Opening
One of the largest luxury hotel groups in terms of both number of venues and notoriety is set to open its first Israeli location.
Crowning Touch for Chicago High-Rise Apartment Project
The 42-story luxury high-rise apartment community 73 East Lake, under construction in Chicago’s Loop, has been topped off. The announcement was made by the developer, Chicago-based M&R Developmen