News
TODAY’S DEALS: CBRE Completes $62.5M LA Sale
CB Richard Ellis completed the sale of a 204-unit L.A. apartment community; Cohen Financial arranged a $7.75 million loan; and J.I. Kislak Inc. purchased three distressed multifamily properties.
No Immediate Plans for More Multifamily at Atlantic Station
Atlanta–CB Richard Ellis Investors has acquired an office building, parking garage and some undeveloped land at the mixed-use Atlantic Station.
Security Properties Establishes Property Management Firm
Seattle—Multifamily owner Security Properties Inc. has formed Madrona Ridge Residential, its new affiliated national property management firm.
Ami Curtis to Lead Five Star’s Newly Launched FORCE
Dallas–The Five Star Institute has added Ami Curtis to the company as national director of the newly launched Federation of REO Certified Experts, or FORCE.
Economy Watch: Simon Quits Bid for Largest British Mall Owner
Simon Property Group decided it doesn’t want to be the biggest U.K. mall owner badly enough; U.S. housing prices continue to fall; and small businesses continue to struggle.
ZOM’s Avery on Southwestern Wins Best Garden Apartment Community
Dallas–NAHB has honored ZOM Inc. its 2010 Best Garden Apartment Community Award for The Avery on Southwestern, a 422-unit luxury multifamily property.
TODAY’S DEALS: Franklin Street Closes $850K Sale of REO Property in Tampa
Franklin Street Real Estate Services oversaw an REO sale; UIP and JCR aquired two apartment buildings; and Johnson Capital secured financing on two Chicago apartment buildings.
Westchester County Apartment Complex Sells for $28M
New York–Phoenix Realty Group and Property Resources Corp. have acquired a Westchester County, N.Y. apartment property for $28 million.
Shkury Launches Ariel Property Advisors
New York–New York City real estate broker Shimon Shkury has formed a new commercial real estate firm, Ariel Property Advisors.
LG Hausys Adds New Colors of Viatera Quartz Countertops
LG Hausys has added 15 new colors of non-porous Viatera quartz surfaces to their 2011 lineup.