Regions
Economy Watch: More Housing Indexes Point Upward
U.S. house price appreciation continued in May, according to the Federal Housing Finance Agency, rising 0.7 percent from the previous month, as measured by the agency’s monthly House Price Index.
West Palm Beach Apartments Trade Hands
Harbor Group International has acquired the 217-unit CityView Apartments in West Palm Beach for $12.8 million from 500 N. Congress Ave. LLC.
TODAY’S DEALS: The Richman Group Closes $291M in Affordable Tax Credit Funds
The Richman Group to add 3,000 affordable units to its portfolio; Quantum Capital arranges $19.3 million in financing for a San Diego portfolio; and Ariel Property brokers the sale of a five-building portfolio located in Queens, N.Y., for $38 million.
JV Approved to Restore Historic N.J. Building
The City of Newark Central Planning Board approved a plan by L+M Development Parners, the Hanini Group and the Goldman Sachs Urban Investment Group to restore the historic Hahne & Company building in Newark, N.J.
Jefferson and JAG Develop Luxury Apartments in Tampa
Jefferson Apartment Group and JAG Management Company have opened its latest development, Jefferson Westshore, 246 luxury apartments in Tampa, Fla.
NWP Announces ENERGY STAR® Portfolio Manager Upgrade for Utility Smart
NWP Services Corporation announced their recently upgraded ENERGY STAR Portfolio Manager interface.
Economy Watch: Total Existing-Home Sales Dropped
The National Association of Realtors reported that total existing-home sales dropped 1.2 percent in June to an annualized rate of 5.08 million units—including single-family, condos, co-ops and townhouses—from a downwardly revised 5.14 million units in May.
Passco Acquires $28M N.C. Community
Passco Companies LLC has made a $28 million acquisition. The company acquired Encore at the Park, a 280-unit community one mile from North Carolina’s Research Triangle Park in Durham, N.C.
JV Acquires Three Student Housing Properties
A joint venture between Scion Group and Virtus Real Estate Capital has a acquired a portfolio of three student housing properties totaling 2,360 beds in 628 apartment units.
Economy Poised for a Stronger Second Half of 2013
The ongoing housing recovery coupled with improvement in both consumer confidence and the labor market are expected to boost economic growth in the second half of the year, according to Fannie Mae’s Economic & Strategic Research Group.