News
MHN Interview: New Trends for The Michaels Development Co.
The Michaels Development Co., part of The Michaels Organization, has announced that Ava Goldman has been named the new president of the company. MHN talks to Goldman about her new role and why she’s focusing on mixed-use developments.
Dominium Promotes Owen Metz as Developer
Dominium, an apartment development and management company, announced that it has promoted Owen Metz as developer at its corporate office in Plymouth, Minn.
Sony Corp. is Auctioning off Tokyo HQ, Part of Global Initiative to Raise Capital
Marking a growing trend among large companies, Sony Corp. is now putting up for sale one of its largest real estate properties.
Fairmont Hotel Opens on Palm Jumeirah
The world’s largest manmade island, The Palm Jumeirah in Dubai, is the location of the newest Fairmont hotel, the 381-unit Fairmont The Palm.
Global Growth Trust Invests in 316-Unit Texas Community
Global Growth Trust, a real estate investment trust, has partnered with Hunt Realty Investments and Trinsic Residential Group to develop a $34.9 million Class A, garden-style apartment community in Lewisville, Texas.
MARKET SNAPSHOT: Remaining a Beacon for Job Growth, San Jose Multifamily Market Rivals That of the ’90s
As employment growth across the country continues to hold steady at around one percent per year, the San Jose job market is seeing gains of between 3 to 4 percent per year.
Economy Watch: Retail Vacancies Edge Down
Reis Inc. reported on Wednesday that the vacancy rate for regional malls declined to 8.6 percent in the fourth quarter of 2012, down from 8.7 percent in the third quarter and 8.9 percent in 4Q11.
Steadfast Buys Lexington Property for $52M
Steadfast Income REIT Inc. has acquired Forty57, a 436-unit garden-style apartment property in Lexington, Ky., for $52.5 million. The property is currently 88 percent occupied.
TODAY’S DEALS: M&T Capital Provides Kennedy Wilson with $51.8M for Two Assets
HFF lands $51.8 million for Kennedy Wilson; San Antonio Commercial Advisors completes a 480-unit sale; and a 46-unit Manhattan Upper West Side building fetches $47 million.
Jones Lang LaSalle Acquires The Apartment Group, Grows Texas Presence
Jones Lang LaSalle has announced that it has acquired The Apartment Group. The price was undisclosed.