News
Atterbury Property Group Launches $3 Billion Mixed-Use Urban Development in South Africa
Atterbury Property Group has launched its $3 billion Waterfall Business Estate, one of the most ambitious mixed-use urban development projects in South Africa.
TF Cornerstone Finding Great Interest in New Long Island City Community
In just five weeks on the market, Manhattan-based TF Cornerstone’s newest residential tower located at 4540 Center Boulevard is already close to 60 percent leased.
MARKET SNAPSHOT: Vacancy Falls to Lowest Level in Six Years in Houston
As employment surged by levels not seen in four years, the overall vacancy rate for the Houston metro area dipped to 11.3 percent—the lowest level since 2006.
Economy Watch: New Home Sales Drop in June
The mild exuberance that the housing market was feeling in previous months may have come to an end, as new worries about the economy infect the potential pool of homebuyers.
Putting Families First
John Picerne has found success serving the families that serve our country.
Editor’s Note: Leaving Las Vegas
After a number of years in Vegas, the National Apartment Association held the 2012 Education Conference & Exposition in Boston. The sleek Boston Convention Center is a bit more buttoned-up than Mandalay Bay, but I did spot an Elvis impersonator roaming the show floor; so you can take the NAA expo out of Vegas but you can’t take Vegas out of the NAA expo. The enormous exhibit hall was filled to capacity with suppliers—a good sign for the economy and a great resource for apartment operators. Watch MHN TV for interviews on a range of topics affecting the industry.
Jazz-Age LA Office Building Becomes Digital-Age LA Apartments
Construction has been completed on the redevelopment of the Roosevelt, a vintage 1920s office building in downtown Los Angeles. The property is now the Roosevelt Lofts, a 222-unit apartment complex.
TODAY’S DEALS: Post Properties Acquires Charlotte Asset for $74M
Post Properties buys a 360-unit asset; MAA completes the acquisition of a community in Atlanta; and NorthMarq arranges a $29 million three-year interest-only construction loan through a regional bank.
MHN Interview: The Importance of Relationship Lending
Joseph Orefice, senior vice president of Investors Bank’s Commercial Lending Group, talks about the lending trends in multifamily and how, despite being relatively new to the market, his company was able to become a major player in the real estate lending industry.
Institutional Property Advisors Names Drew Kile Associate Director
Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has named Drew Kile as an associate director, according to Hessam Nadji, managing director of IPA.