News
TODAY’S DEALS: HFF Secures $167M for 1,523-Unit Community in Denver
HFF arranges $167 million in financing for a 1,523-unit community in Denver; JLL closes the sale of a 512-unit community north of Seattle; and Boston Capital completes a $244 million tax credit fund.
Campus Suites Communities Go to Head of Class
Orlando-based Campus Suites is figuring out that today’s student housing market has a higher expectation built in than it once did.
Economy Watch: Employment Numbers Disappoint Severely in June
The number of jobs created in June was far offset by the number lost; a bill is introduced that would merge Fannie and Freddie; and the debt ceiling clock ticks loudly.
‘The Accidental Economist’ with Jack Kern: Ordinary People
The people who rent apartments are not objects of study and derision for homebuilders, but instead just ordinary people who need a place to live.
$40M Historic Preservation Project Converts Courthouse to Apartments
The Alexander Co. is transforming the long-shuttered, 1930s-era U.S. Federal Courthouse in downtown Kansas City, Mo., into 176 high-quality workforce-housing apartment residences.
Alliance Residential Undertakes Massive Development Plan
Phoenix–With apartment supply struggling to keep up with demand, Alliance Residential Co. says it’s going to start about 5,000 units as part of a business plan for this year.
TODAY’S DEALS: RREEF Acquires Three Communities for $151M
RREEF acquires three properties totaling 561 units for $151 million; ST Residential closes on a condo development in Miami Beach; and Red Capital Partners provides a $4.1 million balance sheet bridge loan for acquisition of bank-owned property.
MARKET SNAPSHOT: Orlando Investment Market Seizes Distressed Assets
Orlando, Fla.–The high unemployment rate in Orlando continues to be the greatest factor impacting the local apartment market.
Economy Watch: Mixed Jobs Reports So Far This Week
Jobs numbers are mixed for June, with both mass layoffs and added jobs reported; non-manufacturing numbers are down; and a Freedom of Information Act request reveals new information about big 2008 loans.
Sperry Van Ness Aligns with Bluestone & Hockley
Portland, Ore.–Sperry Van Ness International has expanded its presence in the Portland, Ore., metropolitan area with the addition of Bluestone & Hockley Real Estate Services.