News
Greystar to Develop Lakewood Apartments
Greystar has started construction on Lakewood Apartments, a 435- unit Class A garden-style community in Lakewood, a suburb of Dallas, Texas.
TODAY’S DEALS: Love Funding Arranges $54.4M Loan
Love Funding announced the closing of a $54.4 million loan refinancing for Parkview Towers, a 688-unit apartment community in West New York, N.J., that was the first ever project-based Section 8 property approved by the state; and ARA’s Central Florida team represents a TIC in an $89,670/unit sale.
Sycamore Buys Bank-Owned Fractured Condo Property
Sycamore Urban Properties has acquired Talus Point, a fractured condominium property, in Reno, Nev. According to public records, Sycamore paid $4.225 million for the property.
DLA Piper 2011 State of the Market Survey: Multifamily Rules
According to DLA Piper’s 2011 State of the Market survey, multifamily is the most attractive investment opportunity for real estate.
Duravit Shouts “WaterSense” from the Rooftop
Duravit recently partnered with the Spitzer School of Architecture and the Grove School of Engineering at the City College of New York to take on the U.S. Department of Energy’s annual Energy Solar Decathlon.
Economy Watch: September Jobs Report: Better Than Nothing
Recent employment trends haven’t been particularly positive. Since April, payroll employment has increased by an average of 72,000 jobs per month, compared with an average increase of 161,000 during the seven months before this April.
Luxury Student Housing GrandMarc Under Construction
Are luxury buildings a new trend for student housing? Phoenix Property Company is banking on it, with its new student housing community, GrandMarc, in Austin, Texas.
TODAY’S DEALS: Grubb & Ellis to Acquire 10 Skilled Nursing Facilities
Grubb & Ellis enters an agreement to buy 10 skilled nursing facilities for $166.5 million; Prudential Mortgage Capital Co. puts a 200-unit Arizona community on the market; and Grandbridge funds a $72 million Freddie Mac loan carrying low-4 percent interest.
KAREA Acquires Three Student Housing Properties Near State Schools
Student housing is widely still considered “recession-resistant” as demand for such housing rises with enrollment, which (if anything) has been bolstered by the ravages of the economy.
Student Housing Income and Expense Survey Shows Northeast Spends Less On Operating Expenses
Washington, D.C.–The National Multi Housing Council’s National Student Housing Council (NSHC) recently released its “Off-Campus Student Housing: 2011 Income and Expense Benchmarking Survey.”