News
New Renters Insurance Standard for Apartment Industry
Washington, D.C.–The Multifamily Information and Transactions Standards (MITS) initiative has released a new Renters’ Insurance 4.0 data-transfer standard.
Economy Watch: Good Job Growth in February
The U.S. Department of Labor reports that the economy added 192,000 jobs in February, bringing the unemployment rate below 9 percent, and productivity and retail spending are up as well.
Unfinished Part of Sterling Pointe Development in N.J. Trades Hands
Somerset, N.J.–Sterling Properties has sold 80 home sites at its over-55 property in Somerset County to K. Hovnanian Homes, which will build out the final phase of construction.
TODAY’S DEALS: UDR to Enter Manhattan Market with $260.8M Acquisition
UDR enters a definitely agreement to purchase 10 Hanover Square; Walker & Dunlop closes a $9.6 million refinance loan; and Boston Capital invests in 96-unit affordable development in partnership with a nonprofit.
NHC Welcomes Two Additions to Team
Washington, D.C.–The National Housing Conference has named Cynthia Dodd Adcock vice president of communications and marketing, and Ethan Handelman vice president of policy and advocacy.
MARKET SNAPSHOT: Positive Auto Industry News Provides Cautious Optimism to Detroit Apartment Industry
Detroit–The resurgence of the automotive industry has brought some optimism to Detroit and its apartment market.
Economy Watch: Mixed Reports on Jobs
ADP releases jobs numbers; the Home Affordable Modification Program doesn’t have a lot of fans; and the Beige Book reports that economic activity continues to expand at a modest rate.
The Moderne Breaks Ground in Milwaukee
Milwaukee–Barrett Visionary Development broke ground this week on the Moderne, a mixed-use, 30-story tower in downtown Milwaukee.
Work Begins on Mixed Residential Project in Coveted N.H. Location
Manchester, N.H.–Construction of Legacy Park Manchester, a residential project encompassing multifamily and single-family housing in Manchester, N.H., has gotten underway.
TODAY’S DEALS: IPA Closes $32.75M Student Housing Acquisition in Virginia
IPA brokers sale of 228-unit student housing complex; Cohen Financial arranges bridge loan for fractured condos; and Granbridge closes a $75.8 million first mortgage loan.