Regions
Economy Watch: New Home Sales Jump in October
The Census Bureau reported a spike in new home sales, with sales at an annualized rate of 440,000 units in October, compared with 354,000 units in September, which represents an increase of 25.4 percent for the month.
QR Capital Acquires Atlanta Apartments
QR Capital has acquired Collier Ridge Apartments, a 300-unit property in Atlanta. Located at 2121 Defoors Ferry Rd. NW, the property is on 39 acres and comprises 49 residential buildings that are about 94 percent occupied. The community was originally built in 1980.
TODAY’S DEALS: Alliance Residential JV Completes $160M Apartment Acquisition
JLL arranges a 549-unit sale in Coronado, Calif.; Capstone Real Estate Services lands a 10-property management gig; and Grandbridge finances a $27.8 million construction/permanent loan for the development of a seniors housing property.
Related Unveils Final South Loop Luxury Collection Building, Adler Place
Related Midwest has unveiled its 32-story Adler Place condo community in Chicago’s South Loop neighborhood, marking the last of three communities to be re-launched in the developer’s previously stalled South Loop Luxury by Related collection.
New-Home Sales Up Sharply in October Says NAHB
Sales of newly built, single-family homes rose 25.4 percent to a seasonally adjusted annual rate of 444,000 units in October, according to data released today by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
McKinley Acquires Two Orlando Communities in 30 Days
Multifamily owner and manager McKinley has reconfirmed its commitment to Central Florida, and specifically to Orlando’s theme park area, with the purchase of two Orlando properties within a scant 30 days.
Economy Watch: Home Price Increases Slowing Down
CoreLogic reported that the increase in home prices nationally—including distressed sales—slowed down in October, rising only 0.2 percent compared with September.
Crescent Begins Work on Atlanta Apartment Property
Crescent Communities has broken ground on Crescent Howell Mill, a $47 million, 256-unit apartment community between Atlanta’s Buckhead and Midtown districts. Completion is slated for the spring of 2015.
TODAY’S DEALS: Continental Realty Corp. Buys Florida Apartment from Praedium
ARA brokers a sale in Naples, Fla.; NorthMarq arranges $21.7M to refinance two apartments; and Marcus & Millichap arranges a $5.3 million multifamily mid-rise acquisition loan.
Joint Venture WTGoodman Acts on Promises One Year After Its Creation With $1.3 Billion Portfolio Purchase as BR Properties Exits Industrial Market
With the FIFA World Cup coming to Brazil next summer, and the Olympic Games set for Rio de Janeiro in 2016, the country has seen a few years of economic upswing, spurred on by the development necessary to make the next few years a success.