News
Whisnand to Head Henry S. Miller Management
Dallas–Brian Whisnand has been promoted to president of the Henry S. Miller Realty Management division.
Economy Watch: U.S. Construction Slumps Again
Construction spending dropped in May; Japan’s post-quake economy is moving toward recovery; and consumer sentiment dropped in June.
Indiana Seniors Housing Furthers City’s Redevelopment Plans
Mishawaka, Ind.–Sterling Development is partnering with Memorial Hospital of South Bend, Inc. to construct Heritage Place at LaSalle Square Senior Apartments in South Bend, Ind.
Rhodes to Lead NEF Affordable Housing Investments
Chicago–Rachel Rhodes has been selected to lead its National Equity Fund, Inc.’s Midwest affordable housing investments as its new regional vice president.
Alliance Restarts Stalled Vegas-Area Multifamily Development
Las Vegas–Alliance Residential Co. has restarted construction on the 152-unit Broadstone Ravello in North Las Vegas, formerly intended to be a condo development.
TODAY’S DEALS: UDR Acquires D.C. Apartments for $600 per square foot
UDR Acquires a 185-unit luxury community in D.C.; Newcastle grabs a 162-unit building in Chicago; and HFF closes sale of Tampa, Fla. asset to Camden.
PODCAST: Economy Watch Weekly with Dees Stribling
For the week ending July 1, home prices were up for once; consumer confidence and sentiment were down; and investors in the Eurozone were happy to learn that Greece won’t be crumbling to ruins.
Force Proves to Be with Developers of The Coronet
San Francisco–The Coronet, a new 150-apartment senior housing building in the Richmond district of San Francisco, springs up on the site of the demolished Coronet movie house.
Economy Watch: Home Prices Up, Especially the Non-Distressed Variety
CoreLogic reports that housing prices were up in May; most of the largest U.S. counties saw unemployment increase last year; and the Fed bids farewell to quantitative easing.
Apartment Market Pushing toward 6 Percent Annual Rent Growth
Dallas–Axiometrics Inc. released a research report today that shows the national apartment market continuing to heat up in May, with effective rents increasing 0.7 percent from April levels.