Regions
Monarch Buys Kansas City Apartments from Equus for $21M
Madison Walnut Creek, a 350-unit apartment complex in Kansas City, has traded hands for $21 million. Denver-based Monarch Investment and Management Group bought the property from Philadelphia-based Equus Capital Partners Ltd.
Economy Watch: Consumers a Bit More Grumpy in January
The Reuter’s/University of Michigan’s consumer sentiment index came in at 80.4 at mid-month January, which was a drop of 2.1 points from the end of December, though still an improvement from 75.1 at the end of November and 72.0 at mid-month November.
Humphrey’s & Partners Sees a Strong Pipeline, Increase in High-Rise Projects
In spite of all the recent construction activity, the apartment market is still supply constrained and should post another year of strong fundamentals, according to panelists on the ‘2014 Kick-Off Webinar for Apartment Development’ hosted by Humphreys & Partners Architects.
Economy Watch: Housing Starts Drop in December, Gain for ’13
The Census Bureau reported on Friday that U.S. housing starts were at an annualized rate of 999,000 units, a drop of 9.8 percent from the November rate, which was 1.107 million units.
Mack-Cali, Ironstate Break Ground on Jersey City High-rise
Mack-Cali Realty Corporation and joint venture partner Ironstate Development Company broke ground in mid-January on URL Harborside 1.
TODAY’S DEALS: Cohen Financial Arranges $9,89M+ in Fannie Mae, CMBS financing
Cohen Financial’s Dan Rosenberg secured a total of $9.894 million to refinance two multifamily properties; and Marcus & Millichap brokers a seniors housing sale for $33 million.
Balfour Beatty Joins DOE’s Better Buildings Challenge
Balfour Beatty Communities L.L.C., a multifamily development and management specialist, has opted to participate in the U.S. Department of Energy’s (DOE) and HUD’s Better Buildings Challenge
Washington D.C. Market Snapshot: Apartment Stock Poised to Rise in 2014
Apartment performance in the Greater Washington, D.C. area could lag this year, as the booming construction hits right at a time when the metro’s job market is cooling down.
Economy Watch: Building Confidence Ticks Down
Homebuilders are still fairly confident about their industry, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index.
TODAY’S DEALS: George Smith Partners Secures $70M Cash-Out Refinance for Downtown LA Property
George Smith Partners provided financing for the takeout of a maturing construction debt; and Edgewood Capital supplies $2.15M for acquisition of non-performing loan.