News
UClub Adds Swick to Student Housing Team
Charlotte, N.C.–Jamie Swick has joined University Buyers Club as executive vice president.
TODAY’S DEALS: Real Capital Solutions, Family Development Purchase Gated Adult Community
Real Capital Solutions and Family Development acquire a gated adult community in Palm Desert, Calif.; Silver Capital and McCann Partners acquire a 166-unit property in Zionsville, Ind.; and Marcus & Millichap sells a 22-unit asset for $2.3 million.
Economy Watch: No QE3 from Fed, Even in Face of Slow Growth
Despite weak market growth, Bernanke says there will be no QE3; Moody’s/REAL Commercial Property Price Index drops 3.7 percent; and the FHFA’s house price index inches upward.
WEB FEATURE: Privatization of Military Housing: a PPP Success Story
The Military Housing Privatization Initiative, which transfers ownership and operation of military housing to private hands, illustrates the potential of public-private partnerships.
New Chicago Loop Apartment Building Becomes Temp Corporate Housing
Chicago–Oakwood Worldwide, a temporary housing specialist, has obtained a master lease for a new 42-story downtown Chicago apartment building.
TODAY’S DEALS: Archstone Acquires 187-Unit Condo-Conversion for $80M
Archstone acquires a 187-unit condominium development; BPG Properties sells a 292-unit community in San Antonio; and Hendricks completes the sale of a 36-unit asset in Ohio.
Ceres Series Highlights California City’s Workforce Housing
Fontana, Calif.–This spring’s opening of Ceres Way marked the sixth affordable housing project developed by Jamboree Housing Corporation for the city of Fontana, Calif.
Economy Watch: U.S. Home Sales Head for the Cellar
NAR reports that home sales hit a low for 2011 in May; HUD approves a program designed to help unemployed homeowners pay their mortgages; and Greece is looking at bailouts coupled with austerity.
Elwazir Named Ginkgo Residential Acquisitions Director
Charlotte, N.C.–Ginkgo Residential has added Nazar Elwazir as director of acquisitions.
Appraisal Foundation and Department of Energy to Collaborate on Green Valuation
Washington, D.C.–The Appraisal Foundation has signed a memorandum of understanding with the Department of Energy to collaborate on issues of energy efficiency and the valuation of green buildings.