News
New Chicago Loop Apartment Building Becomes Temp Corporate Housing
Chicago–Oakwood Worldwide, a temporary housing specialist, has obtained a master lease for a new 42-story downtown Chicago apartment building.
TODAY’S DEALS: Archstone Acquires 187-Unit Condo-Conversion for $80M
Archstone acquires a 187-unit condominium development; BPG Properties sells a 292-unit community in San Antonio; and Hendricks completes the sale of a 36-unit asset in Ohio.
Ceres Series Highlights California City’s Workforce Housing
Fontana, Calif.–This spring’s opening of Ceres Way marked the sixth affordable housing project developed by Jamboree Housing Corporation for the city of Fontana, Calif.
Economy Watch: U.S. Home Sales Head for the Cellar
NAR reports that home sales hit a low for 2011 in May; HUD approves a program designed to help unemployed homeowners pay their mortgages; and Greece is looking at bailouts coupled with austerity.
Elwazir Named Ginkgo Residential Acquisitions Director
Charlotte, N.C.–Ginkgo Residential has added Nazar Elwazir as director of acquisitions.
Appraisal Foundation and Department of Energy to Collaborate on Green Valuation
Washington, D.C.–The Appraisal Foundation has signed a memorandum of understanding with the Department of Energy to collaborate on issues of energy efficiency and the valuation of green buildings.
Novogradac Study Calls LIHTC Program a Success
San Francisco–According to a study on LIHTCs, the program has been quite successful by all applicable performance measures.
Digitexx System Lets Owners Know if a Building Is Safe Post-Quake
Digitexx Data Systems unveils a new service that assesses damage and lets property owners know if a building is safe for re-occupation following an earthquake.
Southwest D.C. to Get First New Luxury Apartment Building in Four Years
Washington, D.C.–Camden Property Trust recently broke ground on the 276-unit Camden South Capitol, the first new luxury development in the area for four years.
TODAY’S DEALS: Phoenix, Paredim Acquire Connecticut Community for $27.7M
Phoenix Realty Group and Paredim Partners acquire a 192-unit community in Connecticut; Harbour Realty buys a 368-unit community in Tamarac, Fla.; and GFI Realty sells mixed-use buildings in a prime Brooklyn location for $10 million.