News
Mill Creek Residential Buys Texas Rental Communities
Mill Creek Residential Trust has acquired a trio of apartment communities in Houston and Austin. The three communities, all located in urban infill locations, comprise a total of 589 apartment homes.
Economy Watch: Employment Gains Disappointingly Meager
Employment growth nationwide in August was as anemic as the corn crop in the Midwest, with a net addition of only 96,000 jobs, well below the monthly average thus far this year of 139,000 per month, and not enough in the long run (or even mid-term) to keep up with population growth.
Vitus Group to Renovate Two N.J. Affordable Housing Communities
Vitus Group recently announced its plans for the renovation and rehabilitation of the Vita Gardens and Stephen Manor communities. This project will preserve 170 units of affordable housing.
TODAY’S DEALS: Kennedy Wilson and Partner Acquire 160-Unit Calif. Asset
Kennedy Wilson buys an asset for $33.5 million; Archstone breaks ground in the Bay Area for the second time in two months; and LNR Property and LYND close the development rights for a 35-story luxury apartment high-rise in Miami.
SBV Buys OKC Apartment Property
SBV Communities, the multifamily real estate division of Kansas City, Mo.-based Spectrum Business Ventures Inc., has bought the 119-unit Ridgeview Apartments in Oklahoma City for an unspecified price.
$109M Mall Redevelopment in Johannesburg, South Africa
Hyprop Investments Ltd, a leading specialist retail property fund in Africa, announced work commencing on the R920 million (or $109.5 million) extension and redevelopment of Rosebank Mall.
Holly Greer Named to Real Estate Forum’s 2012 ‘Women of Influence’ List
Holly Greer, senior vice president and general counsel of CNL Financial Group, has been selected as one of 2012’s “Women of Influence” by Real Estate Forum.
VRM Promotes Three to Expanded Executive Roles
VRM, a real estate solution provider focused on helping financial institutions adapt and excel in a changing marketplace, recently announced the promotion of three managers to expanded executive roles.
Related Companies Names Jeff T. Blau Chief Executive Officer, Bruce A. Beal, Jr. President and Kenneth P. Wong Chief Operating Officer and Director of International Development
Related Companies Executive Chairman Stephen M. Ross today announced that Jeff T. Blau has been named CEO of Related Companies, Bruce A. Beal, Jr. named president of Related Companies and Kenneth P. Wong named chief operating officer and director of international development of Related Companies.
ParkCentral Under Construction in Nashville’s West End
ParkCentral, an eight-story, 200-unit luxury rental community overlooking Centennial Park in Nashville’s West End, is now under construction.