Regions
Dexus Property Group’s 1 Bligh Street Recognized as World’s Most Innovative High-Rise Building as Group Expands Melbourne Portfolio
Deutsches Architekturmuseum, in association with DekaBank and Stadt Frankfurt am Main has awarded The International High-rise Award 2012 to 1 Bligh Street, Sydney.
Affordable Seniors Housing Opens in Heber City, Utah
The grand opening of Prestige Senior Living Center, a 23-unit affordable senior housing community in Heber City, Utah, took place earlier this month.
Economy Watch: GDP Expands More Than Thought
The Bureau of Economic Analysis revised its estimate of real U.S. GDP to an annualized 2.7 percent in the third quarter, compared with the initial estimate of 2 percent.
Archstone Acquires Silicon Beach Property
The Frank, a Venice, Calif. multifamily property, was the subject of a recent deal resulting from an Archstone-sponsored partnership.
Apartments Planned for Suburban Augusta
Fickling & Co. is preparing to break ground on the Lullwater at Riverwood apartments in Evans, Ga. Construction will begin early next year on phase one, which will consist of 212 units; a planned second phase will bring that total to 350 units.
Brooklyn Skyscraper to be Completed Using Modular Construction
Skanska USA and Forest City Ratner Companies are breaking ground on B2, the first residential tower that is part of the Atlantic Yards Development in Brooklyn, N.Y.
TODAY’S DEALS: JV Lands Construction Financing for Virginia Project
A three-party joint venture lands financing for a Class A development in Virginia; Raintree Partners buys a California asset for $60 million; and GFI sells a Brooklyn multifamily property for 10 time the rent roll.
Joint Venture Plans Major Redevelopment Project in Toronto’s Downtown West
RioCan Real Estate Investment Trust, Allied Properties Real Estate Investment Trust and Diamond Corp. have entered into an agreement to purchase the Globe & Mail Lands in Toronto for $136 million.
Cardinal Group Purchases Texas Multifamily Community for $11M
Cardinal Group Investments has teamed with Fundamental Advisors on the $11 million acquisition of Century Square, an apartment community in the Hyde Park neighborhood of Austin, Texas, which was purchased from Roscoe Properties.
MARKET SNAPSHOT: Phoenix Jobs Market Bounces Back after Long Post-Recession Lull
After lagging behind the rest of the country in post-recession jobs recovery, the Valley of the Sun has seen considerable gains over the last few quarters.