News
Pierce Education Expands Its Student Housing Portfolio
Tempe, Ariz.–With its cutting-edge amenities, Block 1949, an off-campus community serving Arizona State University, is the student housing destination of tomorrow.
Marvin Windows and Doors Introduces Clad Ultimate Glider
Marvin Windows and Doors made a splash at the 2011 International Builders Show with two new products: Clad Ultimate Glider and Integrity.
Economy Watch: CBO Says Older Workers Hanging on to Their Jobs
The only group whose work force participation hasn’t dropped recently are workers over 55; Detroit’s population drop between 2000 and 2010 has been staggering; and Ben Bernanke has agreed to hold quarterly news briefings with reporters.
IBM to Acquire TRIRIGA
Armonk, N.Y.–IBM has entered a definitive agreement to acquire privately held TRIRIGA, Inc., a Las Vegas-based provider of facility and real estate management software solutions.
MARKET SNAPSHOT: Albuquerque, N.M. Market Remains Slow but Steady
Albuquerque, N.M.–Despite increasing unemployment, the Albuquerque apartment market has not suffered much.
Phoenix, Orbach Form JV to Own Midtown Manhattan MF
New York–Phoenix Realty Group and the Orbach Group have formed a partnership that has acquired an interest in a 13-building residential portfolio on West 49th Street in Manhattan.
TODAY’S DEALS: NorthMarq Arranges $11.693M Mortgage via Freddie Mac
Everett, Wash.–NorthMarq Capital arranges $11.693 million loan, and Orbach group adds to its portfolio with $15.5M acquisition in Bensalen, Pa.
$98,000 Affordable Housing Grant Paves Way for New Subdivision in Rural Alabama
Calera, Ala.–With a $98,000 grant through BancorpSouth and the Federal Home Loan Bank of Dallas, plans for a 30-residence affordable-housing development are back on track.
Economy Watch: New Homes Sales Drop into the Cellar
Single-family home sales slide to the lowest annual rate on record; the Fed vetoes Bank of America’s request to increase its dividend, leaving investors wondering about the bank’s health; and B of A purchases the retail component of Block 37.
Muldoon Joins Johnson Capital’s Midwest Multifamily Group
Paul Muldoon has joined Johnson Capital as vice president in their Midwest Multi-Family Group.