News
Apartment Firms Staff Up to Meet New Rental Demand, Survey Says
Reflecting the growing demand for apartment homes, nearly two-thirds (65 percent) of multifamily firms grew their staff last year and 62 percent increased their merit bonus pool, according to the National Multi Housing Council’s (NMHC) 2012 Apartment Compensation Survey.
New York Financial District Apartment Rents Headed Skyward
The apartment market in New York’s Financial District has heated up to pre-recessionary levels this summer, according to the latest report on the market by Platinum Properties.
TODAY'S DEALS: CBRE N.E. Sells 550-unit Massachusetts Asset
CBRE N.E. Partners sells a 550-unit TOD community; HFF secures $27 million for a Texas asset; and Johnson Capital arranges $20.1 million in 35-year amortization loans for two assisted-living complexes.
BRE and Bernards Break Ground on $105 Million Mixed-Use Community
Bernards and BRE Properties have broken ground on a $105 million mixed-used development in Los Angeles.
Transwestern Mid-Atlantic Brokers Sale of Bethesda Multifamily
Transwestern Mid-Atlantic Multifamily Group, a collaborative multifamily brokerage team serving the entire Mid-Atlantic region, completed a sale of The Villas at Langley, a 590-unit garden-style apartment community located in Hyattsville, Md.
Housing Starts Edge Down 1.1 Percent, Permits Rise In July
Nationwide housing production edged down 1.1 percent to a seasonally adjusted annual rate of 746,000 units in July, according to newly released figures from HUD and the U.S. Census Bureau.
Jerry Rappaport Jr. Joins Ed Zuker of Chestnut Hill Realty to Create CHR Investors
Jerome L. “Jerry” Rappaport Jr. has joined with Chestnut Hill Realty CEO Ed Zuker and his son, Robert Zuker, to found CHR Investors, an affiliate of Chestnut Hill Realty that will focus on real estate investment primarily in New England’s multifamily housing sector.
Jabal Omar Development Co. to Open 10 Hotel Towers Next Year in Mecca
Jabal Omar Development Co. has announced plans to open 10 hotel towers in Mecca next year as part of a 2.2 million-square-meter (24 million-square-foot) development project.
MARKET SNAPSHOT: Rents at Record Highs in Nashville; No New Completions in First Quarter
Multifamily in Nashville is witnessing record-breaking conditions that rival what was seen even before the financial crisis.
US Energy Group and Greenwich Energy Solutions Announce Strategic Alliance
US Energy Group recently announced a new alliance with Greenwich Energy Solutions (GES) to help drive down operating costs for facilities and ensure compliance with new environmental and energy regulations in New York City.