News
Lancaster, Calif., Portfolio Acquired by MG Properties Group
A four-property, 1,190-unit Lancaster, Calif., apartment portfolio has been acquired by San Diego-based MG Properties Group (MGPG) for a sale price of $91.75 million, with MGPG representing itself in the transaction.
Economy Watch: Wholesale Prices Up in September Due to Energy
The Bureau of Labor Statistics reported on Friday that the Producer Price Index for finished goods rose 1.1 percent in September. At the earlier stages of processing, prices received by manufacturers of intermediate goods rose 1.5 percent in September, and the crude goods index advanced 2.8 percent.
M&R Development and RMK Management Corp. Break Ground on Luxury Chicago Community
M&R Development and RMK Management Corp. announced they have broken ground on 73 East Lake, a new luxury community in Chicago.
TODAY’S DEALS: Mack-Cali Acquires Interest in Roseland Partners
Mack-Cali expands its multifamily business with the acquisition of an interest in Roseland Partners; HFF arranges $34 million for a suburban Philadelphia community; and Johnson Capital arranges a $2.05 million loan for unsold units in a former condominium building.
Partners Plan Houston Infill Apartments
Behringer Harvard and Trammell Crow Residential have acquired a multifamily development site of more than 2.5 acres in the West University submarket of Houston’s Inner Loop. The partners are planning a new apartment development on the site.
New Workforce Apartments Planned for Half-acre Seattle Site
A half-acre site at 12th Ave. and East Yesler Way in Seattle is to be home to a new 120-unit multifamily community featuring workforce apartments.
NAHB Remodelers Bestows Homes for Life Awards for Excellence in Aging-in-Place Remodeling
The National Association of Home Builders (NAHB) Remodelers announced two winners of its annual Homes for Life awards, recognizing excellent remodeling work for aging-in-place and universal design.
Economy Watch: Foreclosure Rates Fall in Most States
RealtyTrac reported on Thursday in its U.S. Foreclosure Market Report for September that 180,427 U.S. residential properties suffered foreclosure filings during the month, a decrease of 7 percent from the previous month and down 16 percent from September 2011.
TODAY’S DEALS: Howard Hughes Corp. Unveils Master Planned Community
The Howard Hughes Corp. announces a plan to revitalize a Hawaiian asset; Ginkgo Residential is appointed the receiver of a distressed property in Maryland; and Centerline Capital Group provides $5.2 million in Fannie Mae acquisition financing.
Campus Acquisitions Gearing Up for Tucson Development
Campus Acquisitions has hired Beal-Derkenne Construction to build Park Avenue, a student housing project bordering the University of Arizona-Tucson.