News
MARKET SNAPSHOT: Vacancy Continues to Fall Despite Stagnant Employment Growth in D.C.
Even as government spending cuts and other factors continue to limit job growth across the nation’s capital, multifamily occupancy has remained tight.
Economy Watch: Economic Growth Still Moderate, Fed Says (With Certain Exceptions)
According to the latest Beige Book published by the Federal Reserve, which is formally called the “Summary of Commentary on Current Economic Conditions by Federal Reserve District,” economic activity increased at a “modest to moderate pace” since the previous report across all Federal Reserve Districts.
Kennedy Wilson Buys East Valley M-F Complex for $61.8 Million
A Salt Lake City apartment community was recently acquired by an international real estate investment and services firm. Kennedy Wilson has paid a fee of around $61.8 million for the Foothill Place Apartments complex and has secured a financing deal with Berkeley Point Capital LLC in order to complete the acquisition. KW has invested $15 million of private equity in the transaction and for the balance of the purchase with Berkeley, along with the $49.7 million loan provided by Berkeley.
Auction.com Tops Housingwire’s Top 50 Real Estate Tech Companies List
Auction.com, an online real estate marketplace, has been recognized by HousingWire Magazine as a member of its first-ever list of the top 50 companies in real estate technology.
Art of the Deal
Joint venture possibilities proliferate as investor appetite for multifamily grows.
The Right Balance
Markets in the Southwest find equilibrium between existing supply and rising demand.
Trident Sustainability Group Announces Affordable Community Earthcraft House and Community Certified
The Harmony Green Townhome Apartments, located in Pooler, Ga., are now Earthcraft House and Community certified, according to Trident Sustainability Group, the LEED consultant for the project.
TODAY’S DEALS: Beech Street Closes $22.1M for Orlando Community
Beech Street Capital closes acquisition financing for a 348-unit asset; CBRE Group Inc. secured $23 million for a Fort Worth community; and NorthMarq Capital arranges a $23.85 million mortgage for a fully leased seniors housing property.
Residents Moving into Fully Photovoltaic Apartments in San Diego
The first of four buildings in the 114-unit Solterra EcoLuxury Apartments has been completed, and residents are starting to move in. The first building of the fully photovoltaic property in the San Diego neighborhood of Scripps Ranch is now 80 percent leased, according to developer H.G. Fenton.
USGBC to Offer Free LEED Certification to Groundbreaking Projects in New Markets
In an effort to accelerate sustainable development around the world, the U.S. Green Building Council (USGBC), creators of the LEED green building program, announced a new campaign offering free LEED certification to the first projects to certify in the 112 countries where LEED has yet to take root.