News
Economy Watch: Mortgage Fraud Cases Creep Upward
The Treasury reports that mortgage fraud was up 5 percent last year; the amount of money in retirement plans is cresting; and the country’s largest banks will receive a wrist-slap for robo-signing.
Crystal Gardens in Melbourne Designed as a ‘Vertical Street’
CK Designworks is designing what they call a “vertical street” in downtown Melbourne, a 35-story mixed-use high-rise that will feature ground-floor retail, three floors of office space and 154 apartment units.
Cushman & Wakefield and Walker & Dunlop Enter MF Strategic Alliance
New York and Bethesda, Md.–Cushman & Wakefield and Walker & Dunlop have formed a strategic alliance to focus on multifamily agency financing and investment sales.
Markham Gardens Becomes Staten Island’s First LEED Silver Community
Staten Island, N.Y.–Markham Gardens, a 289-residence, mixed-income community, becomes Staten Island’s first LEED-certified housing development.
Post Investment Group Breaks Ground on Metro Little Rock Apartments
North Little Rock, Ark.–Construction has begun on Riverside at Rockwater, a 264-unit apartment property that is part of a mixed-use redevelopment on the site of a former industrial facility.
TODAY’S DEALS: IPA Arranges $76.5M Sacramento Area Sale
IPA completes the $76.5 million sale of a 612-unit property in Roseville, Calif.; NorthMarq Capital arranges two multifamily mortgages totaling $24.5 million; and Hendricks & Partners represents the seller in a 4.8 percent cap sale.
Economy Watch: U.S. Job Openings See Uptick
Light peeks through in the job market; U.S. exports are at an all-time high; and oil and commodities continue to slide.
Rehab of Historic Affordable Seniors Housing Property in Richmond, Calif.
Richmond, Calif.–The Carquinez, a 36-unit affordable seniors housing apartment building in Richmond, Calif., has experienced a rebirth with the completion of a $9.5 million rehabilitation program.
TODAY’S DEALS: BCN Acquires Prime Manhattan Space for Condo Development
BCN Development signs prime Manhattan space for a new condo; Emeritus enters a purchase agreement with Blackstone for 24 assisted-living communities; and Beech Street Capital originates $12.65 million Fannie Mae loan for property in an improving area.
Hospitality Property Values Rebound in 1Q11
New York–Integra Realty Resources’ Commercial Property Index finds that the hospitality/lodging sector has experienced the second-best growth prospects, after the multifamily sector.