News
Pollack Shores Acquires Luxury Community for $28.2M
Pollack Shores Real Estate Group has recently acquired a 252-unit multifamily community in Melbourne, Fla., for $28.2 million. The community, called Polo Glen Apartments, is currently 94 percent occupied.
BEMT Invests in 24-Story Mixed-Use Luxury Rental Community
Bluerock Enhanced Multifamily Trust has recently announced its investment in MDA City Apartments, a mixed-use luxury rental community in downtown Chicago. The New York-based non-traded real estate investment trust has partnered with Village Green, the owner of the 24-story building. Village Green is an owner / operator with a portfolio of around 40,000 units in 13 states.
IREM Community Service Project Honored by the Brees Dream Foundation
A community service project undertaken jointly by the Institute of Real Estate Management (IREM®) and its Louisiana Chapter No. 55—benefitting St. Michael Special School in New Orleans—recently was honored by the Brees’ Dream Foundation.
Dana Strand Senior Apartments Wins NAHB’s Gold Award for Best 50+ Affordable Rental Community
Dana Strand Senior Apartments has recently won NAHB’s Best of 50+ Housing Awards—Gold Award for Best 50+ Affordable Rental Community.
Yardi Systems Deploys Unified IP Business Communications Software from Interactive Intelligence
Yardi Systems, a provider of property management software and services, has deployed unified IP business communications software from Interactive Intelligence Group Inc.
Economy Watch: President Reiterates Economic Proposals
As expected, much of President Obama’s State of the Union address on Tuesday focused on the economy, and in particular what he wants to do about the nervous economic state of the American middle class.
NorthMarq Ranks Among Freddie Mac Top Mortgage Sellers With $1.9 Billion in 2012
NorthMarq Capital ranked among the country’s top-10 Freddie Mac multifamily mortgage lenders. NorthMarq produced a loan volume of $1.9 billion in Freddie Mac transactions in 2012, making it sixth on the list.
Get the Wood Look Plus Porcelain Durability with Florim Tiles
While hardwood floors are a huge plus for renters, the cost and upkeep can be a issue from a development/maintenance stance. Porcelain tiles with printed graphics are a great way to achieve that wood look with an easy-to-maintain material.
TODAY’S DEALS: Michigan Student Housing Portfolio Trades for $101.8M
A 2,772-bed portfolio trades hands in Michigan; The RADCO Cos. buys a 144-unit asset in Georgia; and Johnson Capital arranges a $8.4 million, five-year fixed-rate loan from a bank.
NMHC and NAA Study: Apartment Industry and Residents Contributed $1.1 Trillion to the Economy
Despite the worst economy in a generation, apartments and their residents contributed $1.1 trillion to the national economy in 2011, supporting 25.4 million jobs, according to a new report released today by the National Multi Housing Council and the National Apartment Association.