News
River Park Estates Benefits from Procida Funding's 100 Mile Fund
The developer of River Park Estates, a 10-unit town home development in North Bergen, N.J., has obtained a $3.5 million bridge loan to permit completion of the project.
Economy Watch: Job Creation Pace Slows in March
The Bureau of Labor Statistics reported on Friday that the U.S. economy created a net of 120,000 new jobs in March, less than expected after a run of months in which employment gains were over 200,000.
TODAY'S DEALS: Village at Playa Vista Gets Green Light
A 111-acre mixed-use development gets the green light; a San Fernando Valley building commands $225,000/unit in a Marcus & Millichap-brokered sale; and Beech Street Capital arranges $7.7 million for a Maryland asset.
Related, Shoma Buy Site for Miami-Area Mixed-Use Development
Related Group and Shoma Group have acquired land for a mixed-use development of multifamily housing, retail and other commercial product in the city of Doral in Miami-Dade County.
MARKET SNAPSHOT: St. Louis Sees Modest Improvement in Jobs and Leasing; Single-Family Picks Up Steam
After a three-year rut in employment growth, St. Louis saw the addition of 9,000 local jobs in 2011–with 14,000 more expected in 2012.
2012 NMHC 50 Names Nation's Largest Apartment Owners, Managers
In a resurgent rental market, the top players are Boston Capital and Greystar Real Estate Partners LLC, according to the National Multi Housing Council’s new 2012 NMHC 50.
Crescent Resources Plans $37 Million Apartment Development in Tampa
Crescent Resources, in partnership with Global Growth Trust, acquired 25 acres in Tampa, Fla., and is set to build a $37 million apartment community called Circle Crosstown.
Economy Watch: ADP Reports Strong Hiring
The ADP National Employment Report, which always comes out two days before the official U.S. government unemployment numbers, said on Wednesday that the American private sector added a net of 209,000 positions in February.
N.C. Affordable Seniors Housing Gets $3.75M Construction Loan
Ardsley Commons, an affordable apartment development for seniors in Locust, N.C., has obtained a $3.75 million construction loan.
Carroll Organization and Praedium Group Acquire Multifamily Property in Houston
Carroll Organization, a multifamily real estate firm focusing on ownership and operations, and Praedium Group, a real estate investment firm, have acquired a 302-unit apartment community in Houston.