News
High-Rise Apartments Break Ground in Seattle
GID Development Group has broken ground on a 41-story residential tower at 2030 8th Avenue in downtown Seattle. The property, which is across the street from Amazon’s new major office expansion, will include 355 units.
TODAY’S DEALS: Pollack Shores Adds Orlando Apartments to Portfolio
Pollack Shores Real Estate Group buys the 456-unit Sabal Palm at Metrowest II; Greystone acquires two development sites in Brooklyn; and Centerline Capital refinances an asset in Jacksonville.
Special Report: How to Make Mixed-Use Development Work in Neighborhood Revitalization
At the New York State Association for Affordable Housing’s 14th Annual New York State Affordable Housing Conference in New York in the session “Financing Mixed-Use Development,” speakers discussed why mixed-use buildings could be critical to neighborhood revitalization.
Gates Hudson Adopts the Yardi Multifamily Solution
Yardi announced that real estate investment and management firm Gates Hudson selected Yardi Voyager™ as its new property management and accounting platform.
The Bozzuto Group and Peterson Companies Break Ground on the Esplanade at National Harbor
Financing has been completed and construction begun on The Esplanade at National Harbor, an apartment building to be developed at National Harbor in Washington, D.C.
Economy Watch: Strong Q1 for Fannie Mae
On Thursday, a day after Freddie Mac reported sizeable income in the first quarter, the considerably larger GSE Fannie Mae reported income of $8.1 billion for the first quarter of 2013, compared with income of $2.7 billion in the first quarter of 2012 and income of $7.6 billion in the fourth quarter of 2012.
Waterfront Property in Portland Bags $38.9M in Financing
Salpare Bay LLC has obtained $38.9 million in construction financing for the development of the first phase of the Residences at Yacht Harbor. When complete, the property will be a 373-unit waterfront apartment community in Portland.
Special Report: How Hurricane Sandy Continues to Affect Multifamily
At the New York State Association for Affordable Housing’s 14th Annual New York State Affordable Housing Conference, speakers discussed the effect of Hurricane Sandy and what developers in flood zones should plan for in the future.
TODAY’S DEALS: Health Care REIT Announces Big Investment Partnership
Health Care REIT will invest approximately $1 billion into a Canadian portfolio partnership; Morgan Properties and DRA acquire a 620-unit asset; and Marcus & Millichap arranges the sale of a distressed community in Tampa.
$81M Serviced Suits Development Open in Singapore
Pan Pacific Hotels and Resorts has officially launched its newest location: the Pan Pacific Serviced Suites Beach Road in Singapore. The 180-key asset represents the company’s second Singapore location joining the Pan Pacific Singapore opened in 2008.