News
TODAY’S DEALS: CBRE Sells 231 Units in Providence Community
CBRE handles the transaction of 231 units in Providence, R.I.; Inland Fund purchases Illinois residential development; and Cassidy Turley BRE Commercial completes sale transaction at $50,000 per unit.
Bascom Acquires Dallas Apartment High-Rise
Dallas–The Bascom Group has acquired the Davis Building in Dallas, an infill mixed-use property with 183 loft-style apartment units and plenty of bells and whistles.
Berkadia Launches Investment Client Services Division
Horsham, Pa.–Berkadia has launched Berkadia Investment Client Services, a new line of business providing commercial real estate investment sales services nationwide.
Economy Watch: New Homes Sales Slightly Better than Terrible
New home sales inched back from the edge of abyss in March; Japan may be in for a recession this quarter; and the Fed prepares for its first press conference.
Vallone Named Executive Officer of NJBA
Hoboken, N.J. – George Vallone, President of The Hoboken Brownstone Company, was recently named an executive officer of the New Jersey Builder’s Association.
HUD Experiences Cuts in FY11 Budget, Faces Uncertain FY12
Washington, D.C.–Now that the long-delayed fiscal 2011 federal budget has been settled by Congress, the impact on HUD can be quantified.
TODAY’S DEALS: ARA Brokers Two Sales in Dallas Market
ARA brokers two sales in Abilene, Texas; Preferred Apartment Communities acquires Oxford Summit near Atlanta; and NorthMarq arranges a $26.2 million Freddie Mac mortgage with extended rate lock.
Leasing Goes Fully Green and Virtual at Manhattan’s MiMA Residential Tower
New York–Through the Related Companies website, future residents can facilitate a lease agreement from start to finish without touching a sheet of paper.
Economy Watch: Americans Grumpy about Economy, Federal Budget
Few Americans think the country is going in the right direction economically; Wal-Mart tries a grocery-delivery service; and Bank of America gets dismissed from an MBS lawsuit.
MARKET SNAPSHOT: Diverse Economy Poises Oklahoma City for Strong Recovery
Oklahoma City–Oklahoma City’s relatively diverse economy has made its apartment market surprisingly strong, given the state of the national economy.