Luxury
MARKET SNAPSHOT: Chicago Sees Largest Payroll Expansion Since Financial Crisis
The Chicago metro area added 35,000 non-farm jobs in the last 12 months, indicating that employment in the nation’s third-most populous city is seeing a comeback.
Luxury Atlanta Community Draws Attention from Renters
Midtown Atlanta’s tallest residential high-rise, The Atlantic, is attracting a lot of interest from potential renters. The community is the third acquisition of Class-A Atlanta real estate for Crescent Heights.
MHN TV: Luxury Extended Stay
Larry Korman, president of AKA, takes MHN on a tour of two luxury extended stay properties in New York—AKA Sutton Place and AKA United Nations. The AKA brand bridges the gap between luxury hotel and a luxury apartment offerings, and features some truly amazing amenities suited for those staying for a few weeks to a few months.
M&R Development and RMK Management Corp. Break Ground on Luxury Chicago Community
M&R Development and RMK Management Corp. announced they have broken ground on 73 East Lake, a new luxury community in Chicago.
Sale of Bradenton Luxury Rental Community Completed
Lost Creek Resort at Lakewood Ranch, a newly built luxury apartment community in the coastal Florida city Bradenton, has been sold.
Ground Broken for Upmarket Apartments in OC
Newport Beach-based Lyon Communities has broken ground on the Marke @ South Coast Metro, a 300-unit property in Santa Ana. The property will be aimed at an upmarket, renter-by-choice demographic.
TODAY’S DEALS: Lyon Breaks Ground on Santa Ana Luxury Asset
Lyon Communities begins a 300-unit asset; Beech Street Capital provides $152 million to Archstone to refinance an asset in Maryland; and NorthMarq Capital secures a $20 million, five-year take-out loan from a life company.
ParkCentral Under Construction in Nashville’s West End
ParkCentral, an eight-story, 200-unit luxury rental community overlooking Centennial Park in Nashville’s West End, is now under construction.
Riverfront Residential’s Luxury Community 25 Percent Leased After Two Weeks
Riverwalk, a multifamily community in Elmwood Park, N.J., is already 25 percent leased after only being open for two weeks.
Behringer Harvard Aims to Build Dallas Luxury Multifamily Development
Behringer Harvard has acquired a 3.9-acre multifamily development site in Victory Park, Texas, with plans to construct a 377-unit luxury community called The Arpeggio Victory Park.