News
New York City Residential Market Sees Positive Signs, But Multifamily Foreclosures Increased, Says Report
New York–Like anywhere else, New York has suffered the slings and arrows of the recession and housing slump, but according to the latest report by the Furman Center for Real Estate & Urban Policy, some positive signs emerged last year.
AKA Flexible-Stay Apartment Properties to Get $10M Makeover
New York–Korman Communities, owner of the AKA portfolio of flexible-stay apartments, is submitting four of its properties to upgrades at a total cost of $10 million.
Economy Watch: The Budget Scrummage Starts
Is President Obama’s plan to cut the deficit through spending cuts and tax increases, outlined in a speech on Wednesday, a path to U.S. fiscal solvency or not?
TODAY’S DEALS: HFF Closes 280-Unit Mid-Rise in Virginia
HFF closes the sale of a 280-unit property near Washington, D.C.; Johnson Capital arranges $20.5 million refinance for Calif. affordable housing; and Bernard Financial arranges $3.45 million loan for mixed-use property.
U.S. Army and SunCal Ink Development Deal
Dublin, Calif.–The U.S. Army Reserve and private developer SunCal Cos. have signed a Reserve Property Exchange Agreement that will see the developer build new military facilities at Camp Parks Reserve Forces Training Area.
Pool of LEED-Certified Homes in the U.S. Surpasses 10,000 Mark
Washington, D.C.–The U.S. Green Building Council recently announced that more than 10,000 residential properties in the country have earned Leadership in Energy and Environmental Design designation through the organization’s three-year-old LEED for Homes Program.
Economy Watch: Outlook for Monetary Policy Cloudy
Is the Fed planning to tighten monetary policy? Some of its member banks have been asking for a modest increase.
TODAY’S DEALS: Cushman & Wakefield Sells Boston Area Apartment for $7.8M
Cushman & Wakefield brokers sale of 32-unit apartment near Boston; Boston Capital invests in to-be-built Texas affordable seniors housing; and Walker & Dunlop advances $21 million Freddie Mac CME loan for a just-stabilized property.
Tile Redi Introduces Luxury Shower Bench
South Florida-based Tile Redi has introduced an attractive and easy-to-install shower benched called the Redi Bench.
Home Properties Breaks Ground on Fredericksburg Apartments
Fredericksburg, Va.–Home Properties Inc. has broken ground on the Apartments at Cobblestone Square in Fredericksburg, Va. The new property will feature eight four-story buildings totaling 302 one- and two-bedroom apartments and a refurbished 100-year-old rail depot.