Regions
TODAY’S DEALS: Essex Buys Two Seattle Area Communities
Essex Property Trust acquires two properties in the Seattle area for $165.1 million; Behringer Harvard buys a 132-unit luxury community in Concord, Calif.; and NorthMarq arranges a $32 million mortgage through New York Life Insurance Co. for a portfolio of apartments in Miami, Fla.
The Story House Luxury Condos Hopes Residents Live Happily Ever After
Bibliophiles rejoice: The former Frederick Warne and Company building, a British book publishing house that produced The Tale of Peter Rabbit, has been renovated into The Story House, which features luxury condominiums.
Residential Project at Chicago’s $4B Lakeshore East Development Creates 250 Jobs
Lakeshore East, Magellan Development Group’s $4 billion mixed-use project presently sprouting up in Chicago, is playing a key role in the revival of the city’s jobs market.
Alliance Begins Work on Seattle Apartments
Alliance Residential Co. has broken ground on Broadstone Koi, a 166-unit, LEED-certified residential project in Seattle’s Ballard neighborhood. The project is slated for completion during the first quarter of 2013.
TODAY’S DEALS: Greystar Sells 388-Unit Community in Houston
Greystar sells a 388-unit community in Houston; Marcus & Millichap brokers the sale of a 216-unit community for $8.1 million; and Bernard Financial Group finances a $4 million loan with Ladder Capital Finance.
New Luxury Minneapolis Apartment Lures Young Professionals
The Nicollet Building, a 33-story high-rise in Minneapolis, will offer amenities aimed at pleasing young professionals.
Florida-Based Bainbridge Expands Into Triangle Apartment Market
Wellington, Fla.-based Bainbridge Cos. has opened a new office in Cary, N.C., with a goal of expanding its operations in the Triangle apartment market (Raleigh, Durham, Chapel Hill and environs, also known as the Research Triangle).
Portland Pair Taps Thriving Employment Centers
Two new Portland-area apartment communities that broke ground last week are strategically sited to leverage burgeoning employment centers and heavily-used transportation hubs.
TODAY’S DEALS: MG Properties Group Acquires $23.3M Seattle Community
MG Properties Group acquires a 146-unit community in Seattle; Johnson Capital arranges $13 million for two properties in Orange County, Calif.; and CBRE arranges the $54.5 million sale and acquisition financing of a large multifamily property in Minnesota.
Energy-Efficiency Loans See Few Defaults, But Banks Still Mostly Not Interested
Washington, D.C.–A new report by the American Council for an Energy-Efficient Economy (ACEEE), “What Have We Learned from Energy Efficiency Financing Programs?” finds that energy-efficiency loan programs for building upgrades have exceedingly low default rates, ranging from 0 percent to 3 percent. The report drew its conclusion from a review of 24 energy-efficiency loan programs.