News
$40M Historic Preservation Project Converts Courthouse to Apartments
The Alexander Co. is transforming the long-shuttered, 1930s-era U.S. Federal Courthouse in downtown Kansas City, Mo., into 176 high-quality workforce-housing apartment residences.
Alliance Residential Undertakes Massive Development Plan
Phoenix–With apartment supply struggling to keep up with demand, Alliance Residential Co. says it’s going to start about 5,000 units as part of a business plan for this year.
TODAY’S DEALS: RREEF Acquires Three Communities for $151M
RREEF acquires three properties totaling 561 units for $151 million; ST Residential closes on a condo development in Miami Beach; and Red Capital Partners provides a $4.1 million balance sheet bridge loan for acquisition of bank-owned property.
MARKET SNAPSHOT: Orlando Investment Market Seizes Distressed Assets
Orlando, Fla.–The high unemployment rate in Orlando continues to be the greatest factor impacting the local apartment market.
Economy Watch: Mixed Jobs Reports So Far This Week
Jobs numbers are mixed for June, with both mass layoffs and added jobs reported; non-manufacturing numbers are down; and a Freedom of Information Act request reveals new information about big 2008 loans.
Sperry Van Ness Aligns with Bluestone & Hockley
Portland, Ore.–Sperry Van Ness International has expanded its presence in the Portland, Ore., metropolitan area with the addition of Bluestone & Hockley Real Estate Services.
Miami Condo Project Targets International Buyers
Miami–The 292-unit Marquis Residences, a downtown Miami condominium developed by Africa-Israel USA, is seeking international buyers, and so far the strategy is working.
TODAY’S DEALS: HFF Closes $31M Refinance for Brooklyn Community
HFF arranges a $31 million refinance for a Brooklyn community; Marcus & Millichap brokers the sale of a 330-unit Inland Empire community; and Walker & Dunlop closes a $9.2 million acquisition loan.
PropertyBridge and On-Site Introduce New Online Leasing Tool
Oakland, Calif.–PropertyBridge Inc. has partnered with online leasing automation provider On-Site.com to answer the call to provide a new online leasing solution.
NFPA Releases Apartment and Home Fire Data
The National Fire Protection Association has released new research regarding apartment and home fires, most commonly caused by cooking, smoking and using space heaters.