News
Businesses and Consumers Apathetic Toward Fiscal Drag Housing Upturn Intact, Provides Tailwind to Economy
Washington, D.C.—The strong jobs report and the rebound in consumer confidence in February suggested that businesses and consumers set aside their worries about fiscal drag ahead of the looming sequestration deadline, according to Fannie Mae’s Economic & Strategic Research Group. Activity in both the stock and housing markets also picked up recently and continues to act as a tailwind for the economy. Furthermore, the pace of manufacturing and service activity has expanded at a healthy pace and should contribute to growth this quarter. Although income and consumer spending took a hit at the start of the year and may slow…
Village Green Acquires Detroit Luxury Apartments; Plans to Renovate
Village Green, a Detroit-based luxury apartment owner and operator, has acquired Millender Center Apartments, which includes 338 luxury units that the company plans to renovate and reposition.
MARKET SNAPSHOT: Detroit Posts Third Consecutive Year of Job Gains for First Time since 2000
Metro sees the addition of nearly 100,000 jobs over the past three years, and many submarkets are beginning to post vacancy rates below 4 percent.
The Picerne Group to Develop 248-Unit Community in Denver Tech Center
The Picerne Group announced the construction of a multifamily community in the Denver Tech Center in Denver.
TODAY’S DEALS: EdR to Build $46.1M Asset at Duke University
EdR announces plans for development at Duke; UC Funding closes a $12.1 million bridge loan for the acquisition and renovation of a Charlotte asset; and NorthMarq Capital arranges $10.1 million in Freddie Mac acquisition financing.
John Antonini Joins Multifamily Team at Colliers San Francisco
Colliers International announces that John Antonini has joined its San Francisco office as a member of the San Francisco multifamily team.
Mack-Cali Buys Suburban D.C. Apartments for $262M
Mack-Cali Realty Corp. has acquired an 828-unit multifamily property, Crystal House, in the Crystal City section of Arlington, Va., for about $262.5 million. The acquisition was made in partnership with a fund advised by UBS Global Asset Management.
Centerline Capital Group Hires Jeffrey J. Ballaine in Mortgage Banking Unit
Centerline Capital Group, a provider of real estate financial and asset management services for affordable and conventional multifamily housing, and a subsidiary of Centerline Holding Company, announced today it has hired Jeffrey J. Ballaine for its Mortgage Banking Group.
Mainstreet Property Group Announces Acquisitions for Affiliated REIT
Mainstreet Property Group announced on March 25 that the board of directors of its affiliated REIT, HealthLease Properties Real Estate Investment Trust, has approved acquisition of 13 senior housing and care properties.
Economy Watch: Home Price Increase Healthy, Says Case-Shiller
The S&P/Case-Shiller Home Price Indices said that average home prices were up 7.3 percent for the 10-city composite and 8.1 percent for the 20-city composite in the 12 months ending in January 2013.