Regions
Economy Watch: Retail Sales Advance in September
The Census Bureau reported on Monday that U.S. retail sales for September were up 1.1 percent compared with August, and up 5.4 percent compared with September 2011.
NAREIT Explores 2012 Multifamily REITs
According to a recent report from the National Association of Real Estate Investment Trusts, the U.S. REIT market as a whole underperformed in the third quarter of 2012, but outpaced the broader market in the first nine months of the year.
TODAY’S DEALS: Sacramento Assets Trade for $58.8M
ARA completes two Sacramento transactions; Aimco closes a $190.7 million loan to finance a major Venice, Calif., redevelopment initiative; and Meridian Capital negotiates $34.8 million in financing for fractured condos, multifamily and cooperative properties.
Sunroad Begins Two San Diego Apartment Communities
Sunroad Enterprises has broken ground on two new apartment buildings in San Diego, the Sunroad Centrum Apartment Buildings at Lightwave Avenue and Spectrum Center Boulevard.
Lancaster, Calif., Portfolio Acquired by MG Properties Group
A four-property, 1,190-unit Lancaster, Calif., apartment portfolio has been acquired by San Diego-based MG Properties Group (MGPG) for a sale price of $91.75 million, with MGPG representing itself in the transaction.
Economy Watch: Wholesale Prices Up in September Due to Energy
The Bureau of Labor Statistics reported on Friday that the Producer Price Index for finished goods rose 1.1 percent in September. At the earlier stages of processing, prices received by manufacturers of intermediate goods rose 1.5 percent in September, and the crude goods index advanced 2.8 percent.
M&R Development and RMK Management Corp. Break Ground on Luxury Chicago Community
M&R Development and RMK Management Corp. announced they have broken ground on 73 East Lake, a new luxury community in Chicago.
TODAY’S DEALS: Mack-Cali Acquires Interest in Roseland Partners
Mack-Cali expands its multifamily business with the acquisition of an interest in Roseland Partners; HFF arranges $34 million for a suburban Philadelphia community; and Johnson Capital arranges a $2.05 million loan for unsold units in a former condominium building.
Partners Plan Houston Infill Apartments
Behringer Harvard and Trammell Crow Residential have acquired a multifamily development site of more than 2.5 acres in the West University submarket of Houston’s Inner Loop. The partners are planning a new apartment development on the site.
New Workforce Apartments Planned for Half-acre Seattle Site
A half-acre site at 12th Ave. and East Yesler Way in Seattle is to be home to a new 120-unit multifamily community featuring workforce apartments.