News
Economy Watch: U.S. Manufacturing Gains Steam Again
Orders of manufactured goods made gains in May; bankruptcy filings were down in the first half of this year; and Portuguese debt gets downgraded to junk status.
The Station at Othello Park Linked in to Seattle
Seattle–The Station at Othello Park, a 420,000 square-foot, mixed-use development in Seattle, has earned LEED NC Silver certification.
TODAY’S DEALS: Jones Lang LaSalle Closes $125M Debt and JV Equity Raise for Student Housing
Jones Lang LaSalle arranges a joint venture partnership between The Collier Companies and Madison International for student housing properties, and NorthMarq Capital closes on a construction loan and tax credit bridge facility.
Energy Efficiency Meets Unique Architecture with New Slovenia Apartments
The energy-efficient Lace apartment community in Nova Gorica, Slovenia, is designed with visually striking architecture that also protects from some of the country’s more extreme weather conditions.
New Opportunity Fund Bags Inland Empire Apartment Property
Indio, Calif.–The newly formed Clear Capital L.L.C. has purchased the Casa Monroe Apartments in Indio, Calif., the first acquisition by the $50 million opportunity fund.
Apartments Will Yield 11.4% this Year, Say Investment Managers
The Pension Real Estate Association (PREA) surveyed some of their member firms in May regarding their forecasts for the U.S. commercial real estate markets. Respondents predict apartment investments will register a total investment return of 11.4 percent this year.
Whisnand to Head Henry S. Miller Management
Dallas–Brian Whisnand has been promoted to president of the Henry S. Miller Realty Management division.
Economy Watch: U.S. Construction Slumps Again
Construction spending dropped in May; Japan’s post-quake economy is moving toward recovery; and consumer sentiment dropped in June.
Indiana Seniors Housing Furthers City’s Redevelopment Plans
Mishawaka, Ind.–Sterling Development is partnering with Memorial Hospital of South Bend, Inc. to construct Heritage Place at LaSalle Square Senior Apartments in South Bend, Ind.
Rhodes to Lead NEF Affordable Housing Investments
Chicago–Rachel Rhodes has been selected to lead its National Equity Fund, Inc.’s Midwest affordable housing investments as its new regional vice president.