News
N.J. Multifamily Project Repositioned from For-Sale to Rental
Elizabeth, N.J.–Waters Edge Crescent of Elizabethport has made the transition from an uncompleted for-sale townhouse project to finished affordable rental apartments.
U.S. Economy Gains Momentum: Grosvenor Research
In its second-quarter North American Research Report, Grosvenor reports that the U.S. economy is gaining momentum.
MHN Interview: Federated Companies’ Dung Lam
The Federated Companies recently sold its last remaining retail asset so that the firm can focus on multifamily development. CEO Dung Lam discusses the strategy.
Ground Breaks on FSU Luxury Off-Campus Student Apartments
Tallahassee, Fla.–Construction has gotten underway on Campus Circle Tallahassee, a luxury off-campus student housing community adjacent to Florida State University.
TODAY’S DEALS: Lee & Associates Moves 15-Unit Apartment Building for $2.5M
Lee & Associates sells a 15-unit apartment building for $2.5 million; Waterton Residential purchases 509 condo units at Lansbrook Village in Palm Harbor, Fla.; and Tikijian Associates handles the sale of a 88-unit property in Mooresville, Ind.
Economy Watch: OEDC Sees Worldwide Recovery, with Caveats
The Organisation for Economic Development and Cooperation is mostly optimistic about global economic growth; the Federal Housing Finance Agency’s index shows house prices down last quarter; and Congress seems to be taking the debt ceiling less seriously than political theater.
MARKET SNAPSHOT: Despite Record Deliveries, Salt Lake County Holds Its Own on Vacancy
Salt Lake City–Last year saw more units delivered to Salt Lake County than the market has seen in the past 20 years.
Davidoff Promoted to SVP of Strategic Systems at Archstone
Denver–Archstone has promoted Donald Davidoff to senior vice president of strategic systems.
Evans Testifies on Behalf of NMHC, NAA before House Financial Services Committee
Washington, D.C.– Peter Evans, a partner at Moran and Company, testified on Capitol Hill on behalf of NMHC and NAA, urging the FHA to make changes that would expedite the multifamily mortgage application process.
TODAY’S DEALS: C&W Sells 217-Unit Property in Hoboken
Cushman & Wakefield handles the sale of a 217-unit Class A property in Hoboken, N.J.; Marcus & Millichap arranges a $9.3 million refinance for a multifamily asset in Anaheim; and NorthMarq Capital arranges a $10.5 million Freddie Mac acquisition loan.