News
New Apartments Break Ground North of Tampa
Pasco County, Fla.–The Altman Cos. has broken ground on Altís at Grand Cypress, an apartment property with 17 two-story buildings totaling 258 units north of Tampa.
Lend Lease to Reduce Military-Housing Energy Use
New York–Lend Lease launches a program to decrease energy use by 20 percent at its 65.3 million square-foot Military Housing Privatization Initiative portfolio.
TODAY’S DEALS: Home Properties Acquires Two Communities for $65.1M
Home Properties acquires two properties for a $65.1 million total; Essex Realty arranges a bulk sale of 31 condo-converted units for $2.15 million in Chicago; and Marcus & Millichap brokers the sale of a 444-unit community in Largo, Fla.
Wood Partners Begins Work on San Diego County Apartments
San Marcos, Calif.–Wood Partners has broken ground on a 108-unit apartment property near San Diego and within walking distance of the local light-rail system.
Riechman to Head Centerline’s Affordable Housing Group
New York–Michael Riechman will join Centerline Capital Group on September 6 as the firm’s new head of Affordable Housing Equity.
Economy Watch: CRE Prices See Uptick in May
Commercial real estate prices were up in May; existing-home sales edge downward; and Republican leaders were at the White House again on Wednesday, trying to work out the debt crisis.
International Buyers Attracted to Condos in New York and Miami
New York–Two luxury condominiums developed by Africa-Israel USA are attracting international buyers from countries including China, Italy, Brazil, Russia and Singapore.
Freddie Mac Offers $1B in Multifamily Securities
McLean, Va.–Freddie Mac expects to offer approximately $1 billion in Structured Pass-through Certificates–K Certificates–offered to the market by a syndicate of dealers.
Historic Jacksonville Junior High Property Now Condos
Jacksonville–A former junior high school, which closed in 1997 and sat vacant for more than a decade afterwards, has been renovated into condominiums, which are now for sale.
TODAY’S DEALS: Trecap Purchases Two Oregon Communities for $53.9M
Trecap Partners acquires two communities in Oregon for $53.9 million; Western National completes a $31 million acquisition in Orange County; and Education Realty Trust closes on the ground lease of a new student-housing community at Syracuse University.