Regions
Chicago’s Real Estate Forum Probes Multifamily’s Present, Future
At the 2012 Real Estate Forum in Chicago, experts discussed rent increases and the habits of echo boomer renters.
Economy Watch: Foreclosed Properties Less Discounted Than Before
Even in a healthy economy, foreclosed residential properties typically sell at a discount to non-foreclosed ones, but during the worst of the recession, when foreclosures flooded many markets around the country, the pricing difference between the two was especially pronounced.
TODAY’S DEALS: HFF Arranges $56M Acquisition Financing for Seniors Housing Portfolio
HFF arranged $56 million in financing for a four-property seniors housing portfolio with 419 units located in Portland, Ore.; and ARA announces sale of a 560-unit property in a value-add transaction.
Bigger in Texas: Enormous Austin Apartment Property Sells
In one of the larger apartment deals in recent memory in Austin, Hunt Investment Management has sold the master-planned Riata Town Center and Apartment Villages to IMT Capital LLC and affiliated company IMT Residential. The property in the Arboretum district of Austin includes 2,044 units on nearly 160 acres.
MHN Interview: How Albanese Organization’s Communities Survived Hurricane Sandy
MHN talks to Michael Gubbins, senior vice president, Albanese Organization Inc., which owns and develops properties in Battery Park City as well as other areas of New York, about how their properties fared and why their properties might have had an advantage over some of the others in the area.
Brookfield Multiplex Lands $410M Qatari Construction Contract
Brookfield Multiplex Medgulf WLL, the consortium of Canadian-owned Brookfield Multiplex and the local insurance and reinsurance firm Medgulf has been awarded a QAR1.5 billion (or approximately $412 million) construction contract for a section of Msheireb Downtown Doha, a redevelopment project in Doha, Qatar.
Shinsei Bank Ltd. Set to Bet Newly Formed REIT on Health Care Lending for Aging Japanese Population
Japan-based Shinsei Bank Ltd. is reportedly set on creating a brand new real estate investment trust that would focus all of its attention on a niche market.
Magellan Launches First Apartment Development in Twin Cities
There has not been an apartment tower built in the downtown Minneapolis market for more than three decades. But that is about to change, with the start of construction on a new high-rise apartment community in the city’s Loring Park area from Chicago-based Magellan Development Group LLC.
Economy Watch: CBO Details Impact of Fiscal Cliff
The Congressional Budget Office—which, despite the name, Congress is under no obligation to listen to—reported on Thursday on the “economic effects of reducing fiscal tightening.”
TODAY’S DEALS: Norris, Beggs Arranges a $26.5M Acquisition Mortgage
Norris, Beggs arranges a $26.5 million acquisition mortgage; and Boston Capital invests in the rehabilitation of two multifamily apartment communities for seniors in Virginia.