Regions
HAP Investments Starts on East Harlem Apartments
Ground has been broken for 329 Pleasant Ave. in Harlem, N.Y., which will be called HAP 5. The property will rise eight stories in the eastern part of that neighborhood, and contain 20 apartment units.
Axiometrics Report Highlights Apartment Rent Growth in March
The national apartment market experienced a slight uptick in annual effective rent growth during March 2014, increasing at a rate of 3.1 percent, according to the monthly report by Axiometrics.
Economy Watch: Pending Home Sales See Uptick
Housing numbers have been trending negative lately, at least in terms of sales (prices are still going up), but the National Association of Realtors reported that after months of going nowhere, its pending home sales rose in March.
Sterling Properties Begins Leasing First Building at RiverBend East at Wappingers Falls
Sterling Properties has announced that is has begun leasing in the first building of the company’s new development RiverBend East at Wappingers Falls in Dutchess County, N.Y.
TODAY’S DEALS: Toronto-Based Starlight Acquires Houston Apartments
Starlight U.S. Multi-Family Core Fund acquires a 257-unit asset in Houston; RED Capital Group provides $10.1 for the acquisition and rehab of a low income seniors housing asset; and Carroll Organization adds a multifamily asset to its Florida portfolio.
Joint Venture Begins Work on Historic Apartment Rehab in Detroit
Ground has been broken on the redevelopment of Cass Plaza and the Davenport Building, two properties in the Cass Corridor in Midtown Detroit. The redevelopment of the buildings will provide affordable apartments for 47 families.
United Group Welcomes Chief Operating Officer
As United Group of Companies continues to grow and evolve, the company welcomes Jeff Arnold as Chief Operating Officer (COO) of United Realty Management Corp., AMO®.
LaSalle Group to Break Ground on Chicago-Area Memory Care Community
The LaSalle Group will break ground on its ninth Chicago-area memory care community.
Economy Watch: Consumers Cheer Up
U.S. consumer sentiment is up, with the mid-April reading coming in at 82.6, according to the Reuters/University of Michigan’s consumer sentiment index.
TODAY’S DEALS: Berkadia Arranges $146M for First Seniors Housing Early Index Lock Deal
Berkadia closes a first-ever seniors housing Early Index Lock transaction; Investor’s Bank closes 80 deals in 1Q14 with strong multifamily business; and Cohen Financial secures $16 million in equity for a condominium development in South Florida.