News
Economy Watch: No Cliff Deal Over the Weekend
Congress came back after a short Christmas break, but as of Sunday night the solons hadn’t agreed to any plan of action to avoid the colorfully but not quite accurately named fiscal cliff.
Stratford Partners Acquires Award-Winning Colo. Community
Stratford Partners Real Estate, a Del Mar, Calif.-based private investment company, recently acquired an award-winning multifamily community in Lafayette, Colo., for $36.1 million.
TODAY’S DEALS: Steadfast Acquires Kentucky Property for $52.5M
Steadfast Income REIT completes a 436-unit buy; Crescent Resources begins its second student housing asset; and Macfarlane Partners acquires the last remaining vacant lot in San Francisco’s Mid-Market for $7.8 million.
Western National Buys Corona Apartments for $42M
Western National Realty Advisors, an affiliate of Western National Group, has acquired Parcwood Apartments, a 312-unit apartment complex in Corona in Riverside County, near the border with Orange County. The company paid $42.2 million for the property.
Modular Technology Part of San Jose Multifamily Project
Innovative modular technology and sustainable practices are among the hallmarks of a new San Jose, Calif., development called Domain.
Economy Watch: New Home Sales Rise in November
The Census Bureau reported on Thursday that the rate of new home sales was an annualized rate of 377,000 units in November, up from 361,000 in October.
Maintenance Training: A New NAAEI Program
Maintenance technician positions have some of the highest turnover rates in the apartment industry.
TODAY’S DEALS: TIAA-CREF Buys Into Manhattan’s Tallest Rental
TIAA-CREF becomes the 49 percent owner of 8 Spruce Street; The Dermot Co. and AFL-CIO break ground on Manhattan’s Upper West Side; and Johnson Capital arranges a FHA 223(f) refinance loan at interest in the 2 percent range.
HIT Invests $33M for Second Phase of Old Colony Redevelopment
The AFL-CIO Housing Investment Trust has invested $33.5 million in the $61.4 million development of 129 new apartments at Old Colony, one of Boston’s largest public housing properties.
MHN Interview: Multifamily and the Legislative Agenda
MHN interviews Will Cooper Sr., founder and chairman of WNC and Associates, about the multifamily issues that are on the current legislative agenda and the low-income housing tax credit program.