News
The JBG Companies Acquires 450-Unit Community
The JBG Companies has acquired a 450-unit multifamily community from Home Properties of Rochester.
Meta Housing Completes $43M Multifamily Redevelopment in LA’s Chinatown
Meta Housing Corp. has completed the redevelopment of The Metro at Chinatown Senior Lofts, formerly vacant, which is now a transit-oriented, affordable senior housing property in Los Angeles’ Chinatown.
Fannie Mae Reports Largest Net Income in Company History
Fannie Mae reported annual net income of $17.2 billion for 2012 and quarterly net income of $7.6 billion for the fourth quarter of 2012, compared with a net loss of $16.9 billion for 2011.
Crescent Resources Adopts New Corporate Identity as ‘Crescent Communities’
Crescent Resources has changed the name of the corporation to reflect its commitment to community building in all of its multifamily, residential, commercial and land management activities.
Economy Watch: Construction Spending Up, Especially for Residential Projects
The Census Bureau reported on Monday that U.S. construction spending increased 1.2 percent in February compared with January, coming in at an annualized rate of $885.1 billion for the month. That’s 7.9 percent more than during February 2012.
Work Begins on New Baldwin Park Apartments
Work has started on the 178-unit Azul Baldwin Park in Orlando. The property will be a four- and five-story apartment community that includes amenities more commonly found in a high-end boutique hotel, according to the developer, Jefferson Apartment Group.
The Berzack Group Announces Name Change to Berzack Investment Property Advisors
The Berzack Group, a commercial real estate team led by Warren Berzack, president of the group and a principal of Lee & Associates-LA North/Ventura, today announced that it has changed its name to Berzack Investment Property Advisors.
LCOR Residential Takes Over 900 Units
LCOR Residential recently won three property management assignments, totaling 900 units—bringing the company’s property management portfolio to more than 8,000 units nationwide.
NJBA Honors Ed Walters with Affordable Housing Award
Ed Walters, Jr., partner and founder of Walters Group, has been selected to receive an Affordable Housing Award from New Jersey Builders Association (NJBA).
TODAY’S DEALS: Waterton Sells Maryland Asset for $40.8M
HFF closes a $40.8 million sale for Waterton Associates; Steadfast Income REIT acquires two Southern assets for $61 million; and Alliant Capital closes on a $1.8 million acquisition loan.