Regions
Economy Watch: Apartment Rents Still Edging Up in Most Cities
Smaller cities continue to see the greatest increases, but major markets like those in California still make up the most expensive cities for renters, according to a recent RentCafé report.
Manhattan Skyline Management Hires New VP
Chris Dell’Armo is the newest vice president of sales, leasing and marketing, bringing more than 10 years of experience in the industry.
Meridian Secures $4M Loan for CT Community
The 40-unit Chapel Street Lofts in New Haven has undergone recent renovations including flooring, kitchen appliances and security system upgrades.
Carmel Partners Expands Into NJ
Marking the firm’s first investment in the state, the company purchased Hunters Glen in Plainsboro Township and plans on updating interiors, renovating the exterior and improving amenities.
IPA Brokers $20M Value-Add Sale in Tucson
The new owner will capitalize on the improvements made by the seller, which led to an 18.5 percent increase in the average monthly rent, compared to last year.
Hunt Mortgage Secures $2M Refi of Age-Restricted Property
The 55-plus community in Boise, Idaho, features 57 units. Freddie Mac provided the $1.8 million refinancing with a 30-year amortization schedule.
CA Senior Housing Sells for Record $16M
Parkwood at Polo Grounds has changed hands in a record sale for apartment communities in Indio, Calif. The age-restricted community features 125 units.
Airbnb Intensifies Gentrification Across NYC Communities: Report
According to a ShareBetter coalition report, short-term rentals have removed as many as 13,500 housing units yearly, with 66 percent of revenue being derived from illegal listings.
Champion Snaps Up 2 in Glendale
Champion Real Estate Co. acquired the 42-unit Princess Louise and 62-unit Windsor Real. The company has plans for a variety of upgrades to each of the properties.
On the Market: 5 Interesting Listings for the Week of 1/29
This week’s listings include a portfolio investment opportunity in Prince George’s County, Md., a new development in the Irvington neighborhood of Portland and an affordable housing community in Dallas.