News
Bonaventure Realty Group Names New Director of Property Management
Bonaventure Realty Group LLC, multifamily real estate company, announced that Christina Bolter has just been named director of property management.
MARKET SNAPSHOT: Shadow Inventory Continues to Trouble Tucson Market
Tucson, Ariz.–The majority of Tucson investment activity is likely to involve distressed assets for the balance of 2011, according to Marcus & Millichap.
TODAY’S DEALS: HFF Lists Class A Community in St. Louis
HFF is picked to market a luxury community in St. Louis; Champion Real Estate Services purchases a $4.2 million community in central Ohio; and Jones Lang LaSalle brokers apartment sale by AMLI and Northwestern Mutual.
USAA-JLB JV Breaks Ground on Atlanta Apartments
Atlanta–A joint venture between USAA Real Estate Co. and JLB Partners L.P. has broken ground on Buckhead Village, a multifamily property in Atlanta. When complete, the property will feature 373 units in four- and five-story buildings totaling about 345,200 square feet, along with 583 parking spaces.
MBA Releases 2011 Mid-year Commercial/Multifamily Servicer Rankings
Washington, D.C.–The Mortgage Bankers Association released its mid-year ranking of commercial and multifamily mortgage servicers as of June 30, 2011.
Architectural and Design Firm CetraRuddy Goes International
New York–CetraRuddy Inc., an architectural and design firm, recently opened an international division. Over the past three years, the firm has successfully attempted expansion in India and Great Britain.
The Praedium Group Buys Half a Billion in Assets in First Half of 2011
New York–The Praedium Group has been in a bit of a buying frenzy. Acting through The Praedium Fund VII L.P., the New York City-based national real estate investment firm snapped up assets, predominantly multifamily, valued at an aggregate $500 million in the first six months of 2011.
Marcus & Millichap Promotes Levin, Leeson to Vice President Investments
The board of directors of Marcus & Millichap Real Estate Investment Services has promoted Adam Levin and Tyler C. Leeson to the position of vice president investments.
Economy Watch: CBO Predicts Amelioration of Long-Term Deficits
The nonpartisan Congressional Budget Office said that the short-term outlook for the U.S. budget deficit isn’t particularly good, but the longer-range forecast is better than expected. At 8.5 percent of GDP, the $1.3 trillion budget deficit that the CBO is projecting for 2011 will be the third-largest shortfall in the past 65 years, exceeded only by the deficits of the preceding two years.
TODAY’S DEALS: Praedium Group Invests $18.5M into N.J. Community
The Praedium Group purchases an $18.5 million equity position in a N.J. community; Beech Street Capital provides a $34 million refinance for two Texas communities; and Arbor’s Michigan office closes 11 Fannie Mae deals.