News
Investors Buy Metro Atlanta Multifamily Properties
Carroll Organization and NorthStar Realty Finance Corp. have acquired two Atlanta multifamily properties, paying approximately $46 million. The properties are the 396-unit Chattahoochee Landing in Roswell, and the Abbey at East Cobb, a 200-unit property in the East Cobb submarket.
Michael Skrebutenas Joins The Community Preservation Corporation
The Community Preservation Corporation announced that Michael Skrebutenas has joined as senior vice president and regional director of CPC’s Albany office.
TODAY’s DEALS: Cassidy Turley Brokers $73.6M Construction Loan for D.C. Mixed-Use Community
Cassidy Turley announced that it secured a $73.6 million construction loan for Fort Totten Square; and Marcus & Millichap arranged the sale of an Austin, Texas, property.
Canadian Office Tower Gains Recognition as One of the World’s Most Dazzling Buildings
The Bow Tower in Calgary has made the Emporis list of the most spectacular 15 corporate buildings in the world.
Is it Time for a Fresh Start?
Savvy management and capital dollars revive troubled assets.
Community HousingWorks Opens Home for Disabled Veterans and Families in Escondido
Community HousingWorks has set aside eight units for homeless veterans in its newest development, Avocado Court, a 36-unit apartment community in Escondido, Calif., that is available for families, seniors and other individuals.
Amstar Continues Turkish Retail Expansion with New 560KSF Shopping Center
Global real estate investment manager Amstar has announced the opening of yet another institutional-quality shopping center in Turkey.
MARKET SNAPSHOT: Absorption Takes Off in Miami Amidst Strong Job Growth and Limited Construction
Describing the local economic climate as a “solid recovery,” Marcus & Millichap notes that demand for apartments has been strong enough to fill 11,000 rentals over the past three years—and more absorption is expected in the near term.
Economy Watch: Construction Spending Drops
The Census Bureau reported that U.S. construction spending during March 2013 was at an annualized rate of $856.7 billion, or 1.7 percent below the revised February figure. Compared with March 2012, the current figure is still 4.8 percent higher.
Construction Completed on 173-Unit Seniors Community in Florida
Work has been completed on the initial phases of Providence Independence, a 173-unit (209-bed) senior housing property in Wildwood, Fla.