Regions
HIT Invests $33M for Second Phase of Old Colony Redevelopment
The AFL-CIO Housing Investment Trust has invested $33.5 million in the $61.4 million development of 129 new apartments at Old Colony, one of Boston’s largest public housing properties.
Corvias Campus Living Announces Two Key Appointments
Corvias Group announced that it has hired Jennifer Dilley as vice president of student affairs and Ronald LaPorte as vice president of business development of Corvias Campus Living, the company’s student housing division.
Cortland Partners Expands Jacksonville Presence with 391-Unit Acquisition
Cortland Partners has acquired Avistele at Deerwood, a 391-home, 42-acre community located in the most affluent neighborhood of Jacksonville, Fla.
Economy Watch: Case-Shiller Home Price Indexes Jump
The U.S. home-price recovery seems to be a sustained one, if the latest S&P/Case-Shiller Home Price Indices are any indication.
CAPREIT Finances Acquisition of Virginia Multifamily Properties
CAPREIT Inc. has obtained separate loans for the acquisition of two apartment properties in Newport News. The loans, which total about $19.8 million, were originated by Walker & Dunlop Inc. through Freddie Mac’s Capital Markets Execution Program.
Fifield Companies Sells Chicago Community for $302M, Begins Work on New Luxury Development
In a joint venture, Fifield Companies and Pacific Life Insurance Co. have announced they have sold an 848-unit multifamily community in Chicago to REIT Morguard Corp. for $302 million. This marks the highest amount paid for a Chicago apartment tower since May 2011.
TODAY’S DEALS: Vornado Buys Interest in 1,328-Unit Manhattan Asset
Vornado buys into a large Tribeca asset; Charles Dunn Co. completes an L.A. sale to the tune of $10.8 million; and The Sterling Group opens a luxury asset in Alabama.
Portland’s Pearl District In Line to Get High-Rise Gem
A 21-story, 250-unit multifamily community for Portland’s downtown Pearl District is being planned by Wood Partners and Hoyt Street Properties, which have agreed to pursue development of the $80 million project.
Economy Watch: Personal Income, Savings Up
Even as the 2012 holiday shopping season was ending on Monday, at least one estimate said that consumers didn’t spend that much more this year than last year.
TODAY’S DEALS: CityCenter Closes Bulk Las Vegas Condo Sale
A $119 million bulk condo sale closes in Las Vegas; Ares Commercial Real Estate provides $49.6 million for a Tampa-area acquisition of two properties; and NorthMarq advances a $29.3 million Freddie Mac refinance at less than 3.5 percent interest.