Regions
LA’s Warner Center to Welcome Wood’s New Luxury Apartment Community
Los Angeles–Mid-August will witness the start of construction on the new $75 million Warner Park luxury apartment community, to be built on a four-plus-acre site recently acquired by Wood Partners in Warner Center, within the Woodland Hills district of Los Angeles.
TODAY’S DEALS: UDR to Acquire 507-Unit Dwell95 for $325M
UDR Inc. plans to acquire a condo-quality community in Manhattan’s Financial District for $325 million; Marcus & Millichap lists a 2.86-acre development site in El Monte, Calif., for $7.5 million; and George Smith Partners completes a $9.5 million bank loan for a discounted payoff purchase.
NMHC Quarterly Survey Finds Apartments in Fine Fettle
Washington, D.C.–The latest Quarterly Survey of Apartment Market Conditions by the National Multi Housing Council (NMHC) confirms the general sense of strength in the apartment market.
Pietra Apartments in Phoenix Goes Green with New Solar Array
Phoenix–Westplan Investors and Wood Partners, owners of Pietra Apartments in Phoenix, are taking advantage of the powerful rays of sunlight that beam down on the city year-round with the recently installed 47,000-watt solar array at the 237-unit luxury multifamily property.
TODAY’S DEALS: Wood Partners Grabs SoCal Land for $75M Community
Wood Partners acquires land for a $75 million luxury apartment community in California; ARA announces $38.15 million sale of property that was designed to condo specs; and SunCal purchases an idle master-planned development in Virginia.
Moody’s See Strong Fundamentals for U.S. Apartments, But Little Development Ahead
New York–According to a new report by Moody’s Investors Service, all major U.S. REIT property sectors have stable rating outlooks, with multifamily REITs, in particular, showing strong.
KTGY Designs Campus Housing for Wide Open Spaces
Laramie, Wyo.–The Cowboys and Cowgirls of the University of Wyoming (UW) in Laramie will have fresh student residence options come summer of 2012.
ARA Opens Washington, D.C. Office
Washington, D.C.— Atlanta-headquartered ARA recently opened its Washington, D.C. office under the leadership of Drew White and Michael Marshall, both former Cushman & Wakefield executive directors. Former Bozzuto executive Ryan Ogden is also joining the team. With more than 18 years of multi-housing investment sales experience, White has sold in excess of 250 properties throughout the Mid-Atlantic and Southeast regions of the U.S. for clients ranging from large institutions to individual owners. White was responsible for opening Cushman’s Washington, D.C. office in 2002 and quickly established himself as the East Coast’s top apartment broker. Marshall brings more than 24 years…
TODAY’S DEALS: PCCP, B&M Management to Acquire 736-Unit Community in Alabama
A PCCP-B&M Management Company JV will acquire a 736-unit Class B community in Huntsville, Ala.; Charles Dunn Company completes the sale of an 18-unit apartment building in Los Angeles; and Marcus & Millichap brokers a $13.5 million sale of a defaulted note and judgment.
San Diego’s Riverwalk Apartments: A Creek Runs through It
Affirmed Housing Group has helped turn a dilapidated area along a trash-strewn creek bed in San Diego into the new 50-unit, affordable Riverwalk Apartments community.