News
Southern California on Its Way Back to Health
SoCal may not return to true health until 2013-2014, but institutional buyers are bidding for quality properties.
Cascades at World Golf Village Enters Penultimate Phase
St. Augustine, Fla.–Dock Street Communities kicks off the sixth of the seven-phase development of The Cascades at World Golf Village, an active-adult master-planned community.
Economy Watch: U.S. Construction Sees Uptick, but Still Hurts
U.S. construction spending rose more than expected during March; the federal government has a few months left before defaulting on its debt; and bin Laden’s death has a brief effect on oil markets.
Ground Broken for Yonkers Workforce Housing
Yonkers, N.Y.–The Yonkers Industrial Development Agency, L+M Development Partners Inc. and the Greyston Foundation have broken ground on 49 North Broadway, an affordable multifamily housing development.
American Campus Communities and ISU Partner on $59.6M Student Apartment Project
Normal, Ill.–American Campus Communities Inc. and Illinois State University will break ground on Cardinal Court, an 896-bed student-housing community.
TODAY’S DEALS: Marcus & Millichap Brokers Sale of Apartments in North Hollywood
Marcus & Millichap brokers sale of the Morrison Apartments in North Hollywood, and Bay Apartment Advisors oversees an apartment sale in Oakland, Calif. for $134K per unit.
Economy Watch: Consumers Earn More, Spend More in March
Personal income and outlays were both up in March; banks continue to meet their doom; and Donald Trump continues his run of spectacle in the spotlight.
Commercial Real Estate Has Not Truly Recovered, Says Trepp
Trepp LLC estimates that delinquencies, which have been falling in the latter part of last year, will decline slightly in the first quarter.
TriBridge and Pritzker Embark on JV
Atlanta–TriBridge Residential, an Atlanta-based multifamily investment company, and Pritzker Realty Group, a Chicago-based real estate investment company, have announced the creation of a new venture with an initial capital commitment of $75 million.
Charlotte Apartment Development to Break Ground Next Month
Mooresville, N.C.–Construction is slated to begin on Fountains at Mooresville Town Square, a 227-unit, $23 million apartment property developed by Hawkins-Dixon Ltd.