News
Moody’s See Strong Fundamentals for U.S. Apartments, But Little Development Ahead
New York–According to a new report by Moody’s Investors Service, all major U.S. REIT property sectors have stable rating outlooks, with multifamily REITs, in particular, showing strong.
KTGY Designs Campus Housing for Wide Open Spaces
Laramie, Wyo.–The Cowboys and Cowgirls of the University of Wyoming (UW) in Laramie will have fresh student residence options come summer of 2012.
ARA Opens Washington, D.C. Office
Washington, D.C.— Atlanta-headquartered ARA recently opened its Washington, D.C. office under the leadership of Drew White and Michael Marshall, both former Cushman & Wakefield executive directors. Former Bozzuto executive Ryan Ogden is also joining the team. With more than 18 years of multi-housing investment sales experience, White has sold in excess of 250 properties throughout the Mid-Atlantic and Southeast regions of the U.S. for clients ranging from large institutions to individual owners. White was responsible for opening Cushman’s Washington, D.C. office in 2002 and quickly established himself as the East Coast’s top apartment broker. Marshall brings more than 24 years…
Economy Watch: S&P Lowers the Downgrade Boom
On Friday evening, Standard & Poor’s went where no rating agency has gone before by downgrading long-term U.S. sovereign debt.
Delray Beach Apartments Get Construction Funding
Delray Beach, Fla.–Wood Partners has closed on the construction financing of Alta Congress, a four-story, 369-unit apartment property near downtown Delray Beach.
TODAY’S DEALS: PCCP, B&M Management to Acquire 736-Unit Community in Alabama
A PCCP-B&M Management Company JV will acquire a 736-unit Class B community in Huntsville, Ala.; Charles Dunn Company completes the sale of an 18-unit apartment building in Los Angeles; and Marcus & Millichap brokers a $13.5 million sale of a defaulted note and judgment.
San Diego’s Riverwalk Apartments: A Creek Runs through It
Affirmed Housing Group has helped turn a dilapidated area along a trash-strewn creek bed in San Diego into the new 50-unit, affordable Riverwalk Apartments community.
Brody-Thaw Joins Commercial Asset Group
Beverly Hills, Calif.—Beverly Hills-based Commercial Asset Group, Inc. has hired Dana Brody-Thaw as executive managing director.
Economy Watch: Wall Street Tanks, but July a Better Month for Hiring than June
The July jobs reports had some relatively good news on the heels of Wall Street’s worst day in three years; commodities drop along with stocks; and CRE prices remain steady.
HFF Hires Mitchell as Tampa Director
Tampa, Fla.–HFF has hired Matt Mitchell as a director in the firm’s multi-housing group in its Tampa office.