News
TODAY'S DEALS: Berkeley Point Provides $22.7M for Alabama Acquisition
Berkeley Point lands a $22.7 million acquisition loan for a property in Alabama; Holliday Fenoglio Fowler lands a large marketing contract in Chicago; and Grandbridge Real Estate Capital closes on a $61.8 million Fannie Mae acquisition financing.
MARKET SNAPSHOT: Employer Growth Translates to Plummeting Vacancies and Higher Rents in Louisville, Ky.
An expansion in payrolls is likely to add an exclamation point to an already strengthening multifamily sector in Louisville, as employers such as UPS, General Electric and Ford plan to boost hiring in the metro throughout 2012.
Construction Starts on 256-Unit Alta Heights in Houston
Wood Partners LLC, a multifamily developer, has began work on Alta Heights, a 256-unit apartment community situated on 3.5 acres at 145 Heights Blvd., in Houston’s Washington Corridor.
141 Affordable Apartment Units to be Renovated in Connecticut
Related Affordable, a division of Related Companies, has announced that it will provide $3.7 million in renovations and upgrades for 141 affordable units in the River Run Apartments community.
MHN Interview: Melissa Prandi, MPM, President and CEO, Prandi Property Management
MHN interviews Melissa Prandi, MPM, president and CEO of Prandi Property Management, which is located in San Rafael, Calif.
Economy Watch: ADP Reports Weak Hiring in April
Automated Data Processing, whose employment numbers were on the high side last month, said that the U.S. private sector hired a net of 119,000 workers in April.
J Turner Research Launches Facebook App to Aid Online Reputation Management and Community Marketing
J Turner Research, a multifamily marketing research firm, announced the company’s new Facebook application, which utilizes actual resident feedback to populate online ratings and reviews, promote a positive online reputation and enhance the community’s digital marketing strategies.
TODAY'S DEALS: Health Care REIT, Chartwell Complete $936.5M Purchase in Canada
Heath Care REIT and Chartwell Seniors Housing acquire 42 assets in Canada; Beech Street provides $16.3 million for a 296-unit asset in Florida; and Walker & Dunlop supplies a $15.9 million Freddie Mac CME loan to HAP property.
Pullman Wheelworks Wins Financing for Rehab
Mercy Housing Lakefront and National Housing Trust/Enterprise Preservation Corp. have obtained financing for the rehabilitation of the Pullman Wheelworks, a 210-unit affordable housing apartment building on Chicago’s south side.
Old Mervyns’ Site in Hayward Eyed for Multi-Family Project
By Alex Girda, Associate Editor A long-vacant department store in Hayward is on the radar of a developer that wants to transform its site into an upscale residential property, but the plan could be in for some choppy sailing. Closed since 2008, the 335,000-square-foot Mervyns on Foothill Blvd. would be demolished to make way for […]