News
A Possible Solution to the UK’s Housing Crisis for the Elderly
The United States isn’t the only nation feeling the burden of a housing crisis. The UK is also dealing with this, especially in terms of providing housing for the elderly.
The Plex Flexes its Marketing Muscle
Could Crown Heights be the new Williamsburg? The Plex, the new seven-story, amenity packed rental building in Brooklyn’s Crown Heights gets its Grand Opening this Sunday.
Economy Watch: IMF Says World Economy on Knife-Edge
The International Monetary Fund released two reports on Tuesday, each pointing to the nervous exhaustion of the world economy and describing how things could get worse in a hurry.
TODAY’S DEALS: Praedium, Price Realty JV Acquires 500-Unit Texas Community
A joint venture between The Praedium Group and Price Realty Corporation acquires a 500-unit community in Texas; KeyBank provides a $50 million secured credit facility for Sunrise Senior Living Inc.; and Tikijian sells a 240-unit property in Indianapolis.
AREA, McDowell Acquire Defaulted Apartment Loans
AREA Property Partners and McDowell Properties have partnered to acquire a portfolio of defaulted loans secured by 17 apartment complexes with 4,733 units located in four states.
Chicago’s Lake Shore Drive to Sprout 500-Unit Luxury Apartment Tower
A new residential high-rise will soon grace the skyline of Chicago, now that Related Midwest has kicked off construction of a 45-story luxury apartment building on a one-acre, block-long site at 500 Lake Shore Drive.
Economy Watch: President Proposes Budget, Republicans Want to Dispose It
At the Rose Garden on Monday, President Obama unveiled his plan to cut federal deficits, which was an exercise in demonstrating Pavlovian psychology as much as proposing economic policy.
Join our 2011 Industry Index
We are still accepting submission for our 2011 CRE Index. Please submit by September 20, 2011, or contact Michael Ratliff at 212-977-0041 x3407 to arrange for an extension.
TODAY’S DEALS: IPA Sells 298-Unit Community
Institutional Property Advisors arranges the sale of a 298-unit community for $23.2 million; The Largo Group of Companies arranges refinancing for a community in Farmington, N.Y.; and Houlihan-Parnes arranges the sale of five Bronx apartment buildings.
Institutional Fund Investor Snags Southern Property
Kentucky is currently a tight apartment market. Marcus & Millichap predicts that by the end of 2011, the metro area’s apartment vacancy rate will be 4.7 percent.