News
TODAY’S DEALS: Steadfast Adds Three Assets to Portfolio in $62M Acquisition
Steadfast Income REIT acquires 642 units; ARA brokers a sale in Virginia; and NorthMarq arranges a $16.7 million mortgage from a life insurance company.
Related Companies’ National Portfolio Goes Smoke-Free
Related Companies, a privately owned real estate company, announced that its entire national portfolio is going smoke free. This portfolio contains more than 40,000 luxury, workforce and affordable communities located across the country in 17 states.
Builder Confidence Hits Major Milestone in June
Builder confidence in the market for newly built single-family homes hit a significant milestone in June, surging eight points to a reading of 52 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today.
Carmel Partners Names David McWhorter Head of Investor Relations
Effective July 8, 2013, David (“Mac”) McWhorter will join the real estate investment management firm of Carmel Partners as managing partner, head of investor relations, the firm announced today. McWhorter will be based in the firm’s San Francisco headquarters.
Marcus & Millichap Outlook: Economy Scoring Steady Gains
The U.S. economy is experiencing a slow, steady expansion in spite of recurrent headwinds, Marcus & Millichap reports in its mid-year apartment market outlook.
Economy Watch: IMF Cuts Estimate for U.S. Growth
The International Monetary Fund reported that it expects the U.S. economy to grow by a relatively anemic 1.9 percent in 2013, while asserting that growth could be as much as 1.75 percentage points more than the estimate, but the sequester is getting in the way.
Apartments Coming to Ohio City Neighborhood
Apartments are coming to one of the oldest neighborhoods in Cleveland. Two recently announced projects are expected to deliver more than 250 apartments to Ohio City, a place where apartments are greatly needed.
City of Cincinnati Approves Plans for Multimillion-Dollar Developments
Cincinnati City Council approved last Wednesday plans for a 30-story apartment tower at the northwest corner of 4th Street and Race Street in the city’s downtown. The project is expected to cost about $80 million.
JV Opens Brand New Elegant and Affordable Housing for Low-Income Seniors
An affordable housing community for low-income seniors at the brand new Canby Woods, 7238 Canby Avenue, Reseda, has broken ground.
MHN Interview: Modernizing HUD Communities
The Aspen Company, based in Teaneck-N.J., invests in HUD properties across the country. MHN talks to John VanMetre, the new director of operations at The Aspen Company, about his new role, and how he plans to modernize the affordable communities his company acquires.