News
Occupancies Down For Seniors Housing, But Not For Long
Occupancy rates for seniors housing fell in the first quarter of 2010, while rent growth continued during the same period, albeit at a slower pace than in the previous two years.
MARKET SNAPSHOT: Occupancies Increase in Jacksonville, Fla. for First Time Since 2008
Each Jacksonville, Fla. submarket has seen an overall average occupancy increase from the fourth quarter of 2009 to the first quarter of 2010.
Jersey City’s Trump Plaza Residences Reaches 55 percent Sales Level
Trump Plaza Residences Jersey City has reached the 55 percent sales level, with 16 residences sold in March and April.
Riverstone Residential Group Assumes Management of Five Multifamily Properties
Dallas—Riverstone Residential Group has assumed management of five properties in Los Angeles, San Francisco, Seattle, and Portland. Riverstone’s new properties include Watermarke Tower, a 35-story, 214-unit, high-rise apartment residence in downtown Los Angeles; Gardens at Wilshire Center, a 159-unit, mixed-use apartment residence in the Wilshire Center/Koreatown area of Los Angeles; Argenta, a 20-story, 179-unit, high-rise apartment residence in downtown San Francisco; The Bravern, a 33-story, 232-unit, high-rise apartment residence in Bellevue, Wash.; The Ardea, a 323-unit, mid-rise apartment residence in the South Waterfront district of Portland, Ore. The communities will be managed by Riverstone’s Western Division, led by Mike Dow,…
DEAL OF THE DAY: CBRE Arranges Sale of 634-Unit Community in Md.
CB Richard Ellis recently arranged the sale of Sherwood Crossing, a 634-unit rental apartment community at 6731 Old Waterloo Road, in Elkridge, MD, 30 minutes from Washington, D.C. and 15 minutes from Baltimore.
Multifamily Continues to be a Bright Spot in Commercial Real Estate
Multifamily is the only sector of commercial real estate that can expect increased demand in the second half of 2010.
Property Development Likely to Decline in European Markets
Mirroring recent headlines, ING’s latest “Investment Management Europe Report” suggests that the Greek debt crisis and the declining value of the euro will adversely affect property yields and threaten the recovery in the real estate market.
Ohio Apartment Complex to Be Refurbished with Recovery Act Funding
An aging affordable housing complex in Warren, Ohio is the first federal stimulus redevelopment project in the country to access Recovery Act funding from the U.S. Treasury’s Housing Finance Agency Initiative.
DEAL OF THE DAY: ARA Negotiates Sale of 17-Unit Student Housing Asset
Apartment Realty Advisors (ARA) has announced the sale of Rio Grande Square Apartments, a 17-unit community located in the heart of the University of Texas at Austin West Campus area.
Survey Finds that Renting is More Preferable to Owning in a Down Market
A majority of consumers, 76 percent, deem renting to be more favorable than owning a home in the current real estate market.