Regions
Property Solutions Promotes Chase Harrington to New Executive Vice President
Property Solutions International Inc., a provider of property management websites and payments, announced the recent appointment of Chase Harrington as executive vice president.
Acquisition and Renovation Loan Secured for Brandon, Fla., Properties
A $49.6 million acquisition and renovation loan has been secured by Miami-based Aztec Group on behalf of an affiliate of Tampa-based Blue Rock Partners, owner and manager of a large central Florida multifamily portfolio.
Economy Watch: Retail Sales Better Than Expected in December
The Census Bureau reported on Tuesday that U.S. retail sales were up 0.5 percent from November to December (important note: the figures are adjusted for seasonal variation, but not price changes).
TODAY’S DEALS: EQR Secures $2.5B Credit Line for Archstone Deal
Equity Residential closes a $2.5 billion credit facility; The Bozzuto Group announces details regarding a D.C. condominium development; and NorthMarq Capital arranges a $16.5 million life company loan.
Continuing-Care Housing Under Way on Vancouver Island
Work is under way on the Heights at Mount View, a continuing-care housing and memory support property in Saanich, British Columbia, which is part of greater Victoria.
Greystone Continues West Coast Expansion
Greystone, a national provider of multifamily and commercial mortgage loans, will be actively recruiting and hiring experienced originators, underwriters and closing staff to its California offices.
Economy Watch: Fed Chairman to Congress: Pay Your Bills
Fed chairman Ben Bernanke gave a speech at the University of Michigan on Monday, characterizing the U.S. economy as in a “relatively fragile recovery,” and noting that there has been only “modest improvement” in the labor market.
SoNo Sale in Chicago Closes
SoNo East, a new 22-story apartment tower with ground-floor retail at 840 West Blackhawk St. in Chicago, has traded hands. In 2011, Prudential Real Estate Investors agreed to purchase the property upon completion from Smithfield Properties, and now the deal has been done for an unspecified price.
Related Companies and The Beal Companies Sell Boston Penthouse for $6.5M
Related Companies and The Beal Companies announced that the 3,500 square foot Penthouse 1 at The Clarendon has been sold for $6.5 million, or $1,834 per square foot. This represents the first collaboration between the two companies.
The Marketing Directors Announces New Marketing Coordinator, Laura Green
Laura M. Green has joined The Marketing Directors, a development advisory and master property marketing and sales force, as its new marketing coordinator.