News
TODAY’S DEALS: Marcus & Millichap Brokers Sale of Apartments in North Hollywood
Marcus & Millichap brokers sale of the Morrison Apartments in North Hollywood, and Bay Apartment Advisors oversees an apartment sale in Oakland, Calif. for $134K per unit.
Economy Watch: Consumers Earn More, Spend More in March
Personal income and outlays were both up in March; banks continue to meet their doom; and Donald Trump continues his run of spectacle in the spotlight.
Commercial Real Estate Has Not Truly Recovered, Says Trepp
Trepp LLC estimates that delinquencies, which have been falling in the latter part of last year, will decline slightly in the first quarter.
TriBridge and Pritzker Embark on JV
Atlanta–TriBridge Residential, an Atlanta-based multifamily investment company, and Pritzker Realty Group, a Chicago-based real estate investment company, have announced the creation of a new venture with an initial capital commitment of $75 million.
Charlotte Apartment Development to Break Ground Next Month
Mooresville, N.C.–Construction is slated to begin on Fountains at Mooresville Town Square, a 227-unit, $23 million apartment property developed by Hawkins-Dixon Ltd.
TODAY’S DEALS: CBRE Capital Markets Arranges $70M for Multifamily in Fla.
CBRE Capital Markets arranges $70 million for multifamily financing in Florida; Blizin Sumberg Baena negotiates $30M mortgage for former Miami condos; and ARA New England brokers the sale of a 4.1 acre development site in Massachusetts.
Green Modular Carpet Company Makes Internal Strides in Sustainability
Atlanta–Interface Inc., which designs and manufactures a sustainable modular carpet product, spent the last 12 months making its green operations even greener and has now gone public with its accomplishments.
Economy Watch: U.S. Economy Turns in Lackluster First Quarter
Real GDP increased minimally last quarter; hiring is scarce everywhere except McDonald’s; and pending home sales see an uptick.
NAA to Induct Shelton into Hall of Fame
Arlington, Va.–Dallas apartment industry executive Ron Shelton, CAPS, senior vice president at Amalgamated Management Corporation in Dallas, will be inducted into the National Apartment Association Hall of Fame on June 23.
L.A. Greenlights Wilshire Blvd. Multifamily Development
Los Angeles–The Los Angeles City Council approved plans this week for The Vermont, a 464-unit apartment complex with ground-floor retail and a public park.