News
JP Morgan Buys Chicago Multifamily Trophy Property for $182M
Chicago–J.P. Morgan Asset Management will take a majority stake in the 87-story Aqua, a mixed-use development in downtown Chicago.
Economy Watch: U.S. Unemployment Edges Down
Employment inched up in December, but not as much as hoped, and retail numbers went up, also not as much as hoped. And Goldman Sachs is being sued again.
Behringer Harvard Adds 424-Unit District at Universal to Its Orlando Portfolio
Orlando, Fla.–With The District at Universal, Behringer Harvard continues to pad its portfolio with premier multifamily properties in core markets.
Laurus Completes Sale of Beverly Hills Site
Los Angeles–Laurus Corporation has completed the sale of a prominent development site in Beverly Hills, Calif.
RealPage Debuts iPad App
Carrollton, Texas–RealPage, Inc. has released Mobile Leasing, an iPad application that provides property managers and leasing agents on-the-go access to real-time property information.
TODAY’S DEALS: Hendricks & Partners Brokers $11.64M Sale of Apartment Community
Hendricks & Partners sells Sierra Ridge; AREA recapitalizes College Park; and Grandbridge closes a $13.6M multifamily deal.
Manhattan Condo, Co-op Prices Edge Upward in 4Q
New York–For the sixth quarter in a row, average for-sale residential prices in Manhattan are up, although the increases were relatively small.
Lenders Take Over Seattle-Area Condo Development
Bellevue, Wash.–Morgan Stanley and the other senior lenders have finalized their ownership of the unsold units of Bellevue Towers after the original developer threw in the towel.
Caringella Joins Magellan’s New Project Services Subsidiary
Magellan Development Group has tapped residential finance industry veteran Carmen Caringella to serve as director of the company’s newly established problem-solving consulting business, Magellan Project Services L.L.C.
TODAY’S DEALS: Essex Realty Group Brokers Sale of Multiple Apartment Buildings in Chicago
Chicago–Essex Realty Group Inc. announced the sale of multiple apartment buildings on the South Side of Chicago.