Regions
MARKET SNAPSHOT: Strong Employment, Mortgage Financing Woes Keep Apartment Demand High in San Antonio
Employment in the San Antonio metro area increased by 1.2 percent in 2011, considerably higher than the 0.7 percent seen in 2010 and translating to the addition of 10,000 jobs.
Military Contraction to Impact San Diego Multifamily Market
The downsizing of the U.S. military presence in San Diego is expected to have a long-term impact on the apartment market in the area, and not for the better.
TODAY'S DEALS: HFF Secures $19.3M for Gainesville Apts
HFF secures a $19.3 million financing from Prudential Mortgage Capital on behalf of Epoch Properties; Kennedy Wilson acquires a Dublin asset next to Google’s European HQ; and Centerline Capital Group provide a $2.25 million Fannie Mae loan to a property in Minnesota.
Former Atlanta Condo Building Begins Life as a Rental Property
Once upon a time, condo conversion meant taking a rental property and selling off the units piecemeal. More recently, conversion has gone the other way: condos that never sold because of the recession are becoming rental units.
Investment Firm Finds Unique Opportunity in Ireland
Kennedy Wilson, a Beverly Hills, Ca.-based international real estate investment firm, has acquired Alliance Building, a 210-unit asset in Dublin, Ireland.
Downtown Multifamily Community to be Developed in Austin
Forestar Group Inc. announced last week it has partnered with Canyon-Johnson Urban Funds to develop Eleven, a new downtown multifamily community at the southeast corner of East 11th Street and I-35 in Austin, Texas.
TODAY'S DEALS: KBS Lands a Chicagoland Community
KBS Legacy Partners acquires a 256-unit asset in Lombard, Ill.; and R4 Capital Closes the first $80 million of a $100 million LIHTC fund.
SBV Buys 156-Unit Multifamily Complex in Austin
SBV Communities has purchased the Summer Wind Apartments in Austin, Texas. The 156-unit complex, located at 833 Fairfield Drive, is SBV’s ninth multifamily purchase in the state of Texas, but only the first in the Austin market.
Home Properties Buys Two Virginia Apartment Properties
Home Properties Inc. has closed on two multifamily acquisitions in Virginia, one in Leesburg and the other in Centreville. The REIT paid $16.2 million and $96 million for the properties, respectively.
Condo Finds Success By Appealing to Adults and Their Children
The Corcoran Sunshine Marketing Group recently announced sales over $59 million at 515 East 72, a luxury condo building on the Upper East Side.