Regions
Abu Dhabi’s Nation Towers Welcomes Hotel with World’s Highest Suspended Suite
Starwood Hotels & Resorts Inc., a member of St. Regis Hotels & Resorts, announced the opening of the 283-key St. Regis Abu Dhabi, following the location’s mid-August debut.
Economy Watch: New Home Sales Up in August
The Census Bureau and HUD reported that sales of new single-family houses in August 2013 were at an annualized rate of 421,000 units. That’s 7.9 percent higher than the revised July rate of 390,000 units and is 12.6 percent above the August 2012 total.
CPC Oversees $10M Construction Loan for Affordable Community
Westchester County real estate developer Ken Kearney and Rehabilitation Support Services Inc. have obtained a $10.5 million construction loan to build Highridge Gardens, a multifamily development in Poughkeepsie.
TODAY’S DEALS: Morgan Properties, DRA Acquire 526-Unit Apartment Community
Morgan Properties expands in Maryland; Walker & Dunlop finances 2,400 units in Tennessee; and Essex Realty brokers the $4.89 million sale of a courtyard building.
Wood Partners Begins Construction on Fourth Multifamily Project in Los Angeles County
Wood Partners has broken ground on its 300,000-square-foot Alta South Bay community, marking the company’s fourth multifamily project in Los Angeles County.
Riverstone Residential Group Names Peggy Bertsch Chief Accounting Officer
Riverstone Residential Group, a privatelyowned, third-party multifamily property management company, announced the appointment of Peggy Bertsch as chief accounting officer.
The Solomon Organization Acquires Harrisburg Multifamily Property
An affiliate of the Solomon Organization has acquired Ivy Ridge Apartments and Townhomes, a 218-unit rental community in Swatara Tonwship, Pa.
Economy Watch: Case-Shiller Shows Continuing Home Price Rises
S&P Dow Jones Indices released the latest S&P/Case-Shiller Home Price Indices, which track U.S. home prices through the end of July (not August), and they showed continued increases.
TODAY’S DEALS: HFF Arranges $47M for an Austin Apartment Community
Suburban Homes lands a $47 million loan for a 528-unit asset; NorthMarq arranges a $14.6 million refinance for a Phoenix apartment community; and Houlihan-Parnes brokers the acquisition of a row house-style community.
Greysteel Tapped to Broker Va. Apartments
The owner of Briarwood Apartments in Dumfries, Va., has tapped the investment brokerage Greysteel to take the property to market. The 70-unit, five-building apartment community, which is near I-95, comes with a 6.2-acre parcel that’s been approved for an additional 73 units.