News
TODAY’S DEALS: Variant Buys 3,709-Unit Portfolio in Receivership Sale
Variant acquires a 14-property portfolio; CBRE New England sells two Boston walk-ups; and ARA Dallas announces sale of Class A property in a top city.
Investor Obtains Acquisition Financing for West Coast Multifamily
Multifamily investor Pacific Urban Residential has obtained $43.7 million in first mortgage debt for the acquisition of two apartment properties, one in Seattle and the other Los Angeles.
Tishman Speyer Announces First Leases at New Office High-Rise in Frankfurt
Tishman Speyer and its joint venture partner, Commerz Real AG, have announced the signing of the first three lease transactions at the TaunusTurm office project under construction in Frankfurt.
Economy Watch: Small Uptick for 4Q GDP
The Bureau of Economic Analysis reported that real U.S. GDP was up during the fourth quarter of 2012, as opposed to the contraction reported in the bureau’s preliminary GDP estimate a few weeks ago.
Special Report: Research Reveals New Insights about Today’s Student Renters
The National Apartment Association Student Housing Conference and Exposition featured a keyote by Michael Wood, senior vice president of Tru Insight.
Hines Acquires Archstone’s Interest in CityCenterDC Project
The Washington D.C. office of Hines announced today the acquisition of the ownership interest of its partner, Archstone, in the mixed-use CityCenterDC project that is currently under construction in downtown Washington, D.C.
TODAY’S DEALS: MIG Acquires 304-Unit Asset in Scottsdale
MIG Real Estate buys a Scottsdale asset; McCann enters San Antonio with a 324-unit buy; and Beech Street Capital assists a borrower to lock rate six months in advance in a $15 million Fannie Mae refinance.
$460 M Beirut Terraces Vertical Village Could Be First Lebanese Global Award Winner
By Eliza Theiss, Associate Editor Beirut, Lebanon—With MIPIM 2013 just around the corner, nominees of the nine categories of the MIPIM Awards are abuzz with anticipation. Among the nominees is Beirut Terraces, Benchmark’s 130-unit luxury residential project currently under construction in Mina El Hosn, the Lebanese capital’s central district and most high end residential area. If successful, the “Best Futura Project”-nominated property will be the first global award winner from Lebanon. Other projects nominated in the category include Culture Casbah in Malmo, Sweden, Nanjing River West CBD in Nanjing China and The Square in Berlin, Germany. Designed by Swiss architects Herzog…
Under-Construction Office High Rise in Downtown Toronto Set to Thrive
A large leasing deal was recently completed at Brookfield’s Bay Adelaide Center in downtown Toronto.
California Apartment Manager Sets Up Shop in Vegas
Sunrise Management, a San Diego-based residential real estate management specialist, has opened a new Las Vegas division and tapped multifamily expert Kathy Relyea to oversee it.