News
MARKET SNAPSHOT: Manhattan Accounts for 80 Percent of New York City’s Transaction Volume
New York–Apartment transactions in New York totaled 115 during the third quarter of 2011, according to Ariel Property Advisors’ most recent Multifamily Quarter in Review: New York City.
San Diego Project Goes from LEED Silver to Gold
The use of structural concrete on the University of California, San Diego’s new Rita Atkinson Residences appears to have done wonders in complementing the design and structure of this 450-bed apartment building.
Loosening Standards
Capital is pouring back into the most active commercial real estate investment markets as lenders are responding to improving property values and rising expectations of future income growth.
Market Issues Sideline CMBS Financing
Even as commercial mortgage-backed securities financing was slowly starting to make a comeback as a source of multifamily financing, U.S. and global macroeconomic issues, as well as micro-level CMBS-related issues, have come together to stall the CMBS sector.
TODAY’S DEALS: Centerline Provides $328M Structure to Finance Portfolio in Suburban Washington, D.C.
Centerline provides a $328 million Freddie Mac CME loan to finance portfolio of eight properties; Campus Crest Communities announced four new developments; and Beech Street closes $12.5 million for two communities in Southern California.
Bloomberg: Hudson Yards ‘Wonderful’ for New York
“It’s a wonderful day for New York,” Mayor Michael Bloomberg said of the Hudson Yards development project. The 26-acre site on the city’s West Side is the largest piece of undeveloped property in Manhattan.
Condos in Battery Park City Half Sold
1 Rector Park, a condominium conversion in lower Manhattan’s Battery Park City, has sold more than half of its units, according to the sales agent for the property, Corcoran Sunshine Marketing Group.
Irvine’s Doria Apartment Homes Another First for Jamboree
The late October grand opening of Doria Apartment Homes, an affordable housing community on the north side of Irvine, Calif., marked a pair of firsts for Irvine-based affordable housing developer Jamboree Housing Corporation.
Ads Aimed at Young Renters Highlight Pitfalls of Living with Parents
New ad campaign aims at young renters by showing pitfalls of moving back in with mom and dad.
$300M Zero Net Energy Project Opens at UC Davis
The first phase of West Village at University of California, Davis, the largest planned zero net energy development in the country, has just made its debut.