Regions
Judge Rules in Favor of City of Orange Property Owners Association: Annual Inspections of Units Unenforceable
A judge of the New Jersey Superior Court, considering a challenge filed by a property owners group of the City of Orange, ruled that the City’s annual inspection ordinance, which was enacted in December 2010, and required annual inspections of rental properties, was void and unenforceable.
TODAY'S DEALS: IPA Sells 180-Unit Asset for $74M
IPA sells an asset totaling 180 units; Pembrook Capital provides an $8.4 million bridge loan; and NorthMarq arranges a $16.4 million refinance via a life insurance company.
California Buyer Acquires Third Louisville Apartment Complex
Steadfast Income REIT Inc. has acquired Renaissance St. Andrews Apartments, a garden-style residential property in Louisville, Ky.
Astoria Condos Sell Out
In a bit of news that used to be common in the New York market, but which is now not quite so ordinary, a condo development is reporting that it’s sold out.
New Apartments Add to Norwest Woods' Success Story
Chestnut Hill Realty has added 54 new one-bedroom apartments to Norwest Woods. The new apartment homes represented almost 10 percent of all new apartments built last year in the Greater Boston area.
Gordmans Unveils New Stores in Farmington and South Jordan
By Alex Girda, Associate Editor Gordmans unveiled a pair of new locations on March 15 as part of a major expansion in the Intermountain West region. The Omaha, Neb.-based discount retailer opened 50,000-square-foot stores at the Station Park retail center in Farmington and at The District in South Jordan, eight days before an official grand […]
TODAY'S DEALS: EdR to Develop Off-Campus Housing in Downtown Phoenix
EdR begins a joint venture development in Phoenix; Holliday Fenoglio Fowler transacts and arranges financing for a Houston asset; and Meridian Capital negotiates New York City financing with interest rates in the 3 percent range.
Penthouse Condos Selling Quickly at 40 Park
Two penthouses have recently been sold at 40 Park, a luxury condominium community managed by Roseland Property Company in Morristown, N.J.
MARKET SNAPSHOT: As Auto Industry Bounces Back, Detroit Sees Sharp Increase in Multifamily Rentals
Vacancy is set to decline in Detroit Rock City as the United Auto Workers recently struck a deal with the Big Three that will create 14,000 new jobs through 2014.
MNS Sees Positives in Brooklyn Rental Report
Residential brokerage, sales and marketing firm MNS released its January 2012 Brooklyn Rental Report, and although there was a slight decrease in rental rates for the beginning of the year, all signs point to a positive year ahead.