News
Economy Watch: Foreclosures See Strong Uptick in August
Foreclosure filings spiked 7 percent in August compared with July, according to foreclosure specialist RealtyTrac on Thursday. Additionally, the CPI increased.
TODAY’S DEALS: Marcus & Millichap Arranges $32.5M Inland Empire Sale
Marcus & Millichap sells a 304-unit community in Riverside, Calif.; Chestnut Hill Realty buys a $24.8 million portfolio in Cambridge, Mass.; and Walker & Dunlop LLC closes 40-year HUD loan at 4.63 percent interest.
Richfield Picked to Manage Hotel Component of Marquis Residences
Africa Israel USA has hired a new property manager for Tempo Miami, a 56-room luxury hotel that’s part of the 67-story Marquis Residences, a late-2000s Miami condo development.
Trump Name to Grace $150M Residential High-Rise in Manila
New upscale condo skyscraper is on track for the Philippines. High-end housing in Manila is becoming a coveted market for both investors and homebuyers.
MARKET SNAPSHOT: East Bay Vacancy Declines, Planning Pipeline Expands
Oakland, Calif.–Vacancy in the East Bay is projected to reach levels seen three years ago, according to Marcus & Millichap’s third quarter 2011 Apartment Research Market Update.
Michael Creeden Named Vice President of NorSouth Construction Company
NorSouth Construction Company announced that they have named Michael Creeden vice president.
Train-Adjacent Apartments Put Commuters at Ease
Commuting is sure to be a breeze for residents of Harrison Station, a new rental community in New Jersey–after all, the luxury apartments are located right next to the Harrison PATH station.
TODAY’S DEALS: HFF Arranges Financing for 224-Unit Acquisition
HFF arranges acquisition financing for a 224-unit community in Tampa, Fla.; Dome Equities LLC acquires a 208-unit property in Kansas; and NorthMarq Capital arranges a $14.5 million mortgage via MetLife.
CRP at Work on Five Mid-Atlantic Apartment Properties
Chesapeake Realty Partners has started work on the development of five apartment properties in Maryland, Virginia and Pennsylvania. All together, the developments will total 1,260 residences and cost about $186.5 million.
Fortunes Point Up for Future Residents of Northwoods Apartments
The initial phase of 28 one- and two-bedroom garden-style apartment homes at Northwoods, a new apartment community in the Hudson Valley town of Wallkill, will be available for rent this winter.