News
Student Housing in Delaware Wins Award for Best Turnaround
Newark, Del.–Campus Living Villages spent $6 million to repurpose and renovate a 665-unit student-housing community near the University of Delaware.
TODAY’S DEALS: Lee & Associates Completes $40.9M Las Vegas Transaction
Lee & Associates completes a $40.9 million acquision transaction in Las Vegas; AREA and ECI recapitalizae a multifamily portfolio to the tune of $208.5 million; and Continental Real Estate Companies completes a $6.8 million sale in Florida.
Apartment Sector Sets Records in Market Tightness and Equity Availability: NMHC
Washington, D.C.–According to the National Multi Housing Council’s latest Quarterly Survey of Apartment Market Conditions, the apartment industry continues to recover briskly.
Economy Watch: Home-Price Slump Not Over Yet
Zillow reports that home values were down 3 percent in the first quarter; April’s Conference Board index points to negative employment indicators; and congressional leaders ram heads over the debt ceiling.
Encore Multi-Family to Begin New Tulsa Development
Oklahoma City–Encore Multi-Family has completed HUD financing for its new 248-unit garden-style apartment property in the Tulsa suburb of Bixby, Okla.
TODAY’S DEALS: Kennedy Wilson Sells 286-Unit Community for $43M
Kenedy Wilson sells a 286-unit asset for $43 million; Carroll Organization acquires three off-market properties; and ARA brokers the sale of Michigan REO manufactured housing.
Freddie Mac Offers $1 Billion in Multifamily Securities
McLean, Va.–Freddie Mac has announced a new offering of Structured Pass-Through Certificates (“K Certificates”), multifamily mortgage-backed securities.
Affordable Seniors Housing Meets Green Certification in the Bronx
Bronx, N.Y.–Serviam Gardens II, a 158-unit affordable seniors housing community, is the first in the Bronx to reach completion with Enterprise Green Communities Certification.
Economy Watch: Jobs Report Solid, with Some Exceptions
The economy added 244,000 jobs in April; a commodity price index drops steeply; and consumer credit expands.
RealPage Acquires Compliance Depot
Carrollton, Texas—A wholly owned subsidiary of RealPage Inc. has acquired the assets and selected liabilities of Compliance Depot.