News
Auction.com Promotes Jake Seid to Co-President and Opens Silicon Valley Office
Auction.com announced that it has promoted Jake Seid to co-president, with shared oversight of all day-to-day operations, and established an office in Belmont, Calif., to tap the talent pool in Silicon Valley.
TODAY’S DEALS: Mack-Cali Completes an $88M Acquisition
Mack-Cali completes a Boston-area buy; Venture West Funding arranges $13 million for three Texas assets; and Hudson Realty funds $17 million for the acquisition of a historic industrial building in DUMBO.
Joint Venture Begins Construction on $38M Transit-Oriented Community
Wood Partners and the Ustler Group have begun construction on a $38 million multifamily community. The five-story, 248-unit property called The Ivy—Residences at Health Village will be located in the Florida Hospital Health Village in Orlando.
REIT Buys REO Apartments in Lexington
Resource Real Estate Opportunity REIT has acquired two apartment properties in Lexington, Ky., called Kenwick Place and Canterbury Apartments. The two are adjacent to each other and include a total of 244 units.
RED Records Record Year in 2012 and Captures MBA Top FHA/Ginnie Mae Origination Ranking
Comprehensive capital provider RED Capital Group announced that according to a recent 2012 Annual Origination Rankings report released by the Mortgage Bankers Association, RED’s mortgage banking arm, Red Mortgage Capital LLC, was the top originator for FHA/Ginnie Mae loans in 2012 providing 231 FHA loanstotaling $2.176 billion.
Starwood Hotels & Resorts Opens First W Branded Property in Mainland China
Starwood Hotels & Resorts has launched the W Hotels brand in Mainland China with the opening of W Guangzhou.
Decade-Long Development in Inland China Completes its 13th Phase
A decade-long development effort by Sunac Real Estate was recently commemorated during a ceremony organized by the developer.
NAI Capital Closes $10.5 Million Apartment Community Transaction
Preservation Partners and Clifford Beers Housing have purchased Banning Villa Apartments, a 90-unit affordable housing community for seniors in Wilmington, Calif., for $10.5 million from VPP Banning Villas Apartments VP.
Economy Watch: March Job Growth Sputters
The U.S. economy created only 88,000 jobs in March, which was a drop from February.
Deutsche Asset & Wealth Management Forms Energy-Efficient Property Investment Team
Deutsche Asset & Wealth Management announced that its real estate investment business (formerly RREEF Real Estate) has formed a new investment team focused on retrofits of physical buildings and related energy efficiency opportunities.