News
Coastal Texas Apartment Project Half-Leased as Construction Concludes
Corpus, Christi, Texas–After Encore Multi-Family L.L.C. wrapped up construction of Encore Crossings, a 200-unit luxury apartment community, 50 percent of the residences were quickly claimed.
TODAY’S DEALS: NorthMarq Capital Arranges $31M, 7-Year Mortgage
NorthMarq Capital arranges a Freddie Mac mortgage; Red Mortgage Capital LLC closed on a refinancing; and Chozick Realty brokered the sale of student housing.
Economy Watch: Massachusetts High Court Rules against Banks in Foreclosure Case
A Massachusetts high court affirms the stance by lower courts that banks must have their mortgage paperwork in order before making foreclosures, and Fed Chairman Bernanke defends the Fed strategy regarding QE2.
Italian Tile Trends: Report from Cersai
Tile with slim formats, digital printing, antibacterial properties and photovoltaic panels were introduced by numerous companies at the show and will impact decisions made by the architectural and development communities throughout the year.
The Apartment Market Recovers
The apartment market is due to have a good 2011, even though it will probably take many years for the labor market to recover, if at all.
Wood Partners Buys Land for Project near Growing Fort Belvoir Army Base
Alexandria, Va.–Wood Partners has acquired three acres in Alexandria for development of a 290-unit luxury apartment community that will answer demand spurred by growth of the US Army’s Fort Belvoir base.
Bascom Group Raises Funds and Awareness for UNICEF
Irvine, Calif.—Bascom Group partnered with the U.S. Fund for UNICEF and raised $19,000.
TODAY’S DEALS: HFF Closes $86.5M Sale to Avalon Bay, Arranges Financing
HFF arranged acquisition financing for an $86.5 million sale; Sterling closed on a student housing community; and Waterton bought both a construction note and mezzanine loan.
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.