Regions
TODAY’S DEALS: Archstone Buys Marina del Rey Apts for $44M
Archstone buys a 205-unit asset in SoCal; Multi-Employer Property Trust lands a Dallas tower; and Pure Multi-Family REIT announces plans for a $52.5 million buy in Dallas-Fort Worth.
Economy Watch: Home Prices Jump, Says CoreLogic
Home prices nationwide, including distressed sales, increased year-over-year by 4.6 percent in August compared to August 2011, according to CoreLogic.
Sterling Construction in Joint Venture for New Development in North Dakota
Because of a local oil boom of the Bakken Shale Formation, Dickinson, N.D., has become a booming residential area. And that is why Sterling Construction, part of The Sterling Group, feels it is the ideal location for its new $32.3 million community.
TODAY’S DEALS: Lyon Breaks Ground on 366-unit Asset
Lyon Communities begins a Silicon Valley development; San Antonio Commercial Advisors arranges a 288-unit sale; and HFF secures $19.5 million in financing for student housing.
Affordable Housing Community to be First New Construction of Apartments in Ewing Township in 40 Years
The Gardens at Birmingham, a planned 48-unit affordable housing community in Ewing Township, N.J., was awarded Federal Low Income Housing Tax Credits by the New Jersey Housing & Mortgage Finance Agency.
MAA Acquires KC Apartment Property
MAA has acquired Market Station, a mid-rise apartment property in the River Market area of Kansas City, Mo., for an unspecified price.
Economy Watch: Construction Spending Drops Slightly
The Census Bureau reported on Monday that U.S. construction spending edged down 0.6 percent in August compared with July, with both private and public construction spending off a bit.
Danbury Apartment Community on the Market
Brookview Commons, an 80,340-square-foot multifamily community located in downtown Danbury, Conn., is on the block.
TODAY’S DEALS: Bascom Completes Colorado Sale with Help from ARA
ARA represents Bascom in a $42.3 million sale; NAI Hunneman brokers a Massachusetts transaction; and Aries Capital provides a $3.3 million loan.
Resmark and Intracorp Plan Seattle Rental Communities
The northeast side of Seattle will soon welcome two new apartment communities to be developed by Resmark Apartment Living and Intracorp.