Regions
Mixed-Use Project Opens in Downtown Portland
The Greystar-managed Sky 3 comprises 196 units, of which 39 will remain affordable for at least 10 years. The community also offers a 13,000-square-foot retail space.
Economy Watch: Fitch Report Optimistic About CRE
In its first annual U.S. Equity REITs Handbook, Fitch expects continued positive property-level fundamentals across most asset classes in 2017. Multifamily should again lead the REIT sector, although same-store net operating income growth will be less than 2016 levels, according to the report.
PGIM, Kisco Acquire Bay-Area Senior Living Community
Featuring 187 independent and assisted living residences, Byron Park stands on a 7.3-acre site in Walnut Creek, 20 miles east of San Francisco.
Affordable Housing Finance Veteran Joins Jonathan Rose
As West Coast director, Kelly Boyer will work with the company’s New York-based acquisitions team, sourcing new investment opportunities on the West Coast, including direct investments and joint ventures, as well as managing operating partner relationships.
Economy Watch: Construction Spending Takes a Dip in April
Both private and public construction spending declined for the month, according to the Census Bureau, including in the residential category.
LMC Kicks Off Pre-Leasing at Seattle Development
The mixed-use community in the Capitol Hill neighborhood includes 157 units and 2,500 square feet of ground-floor retail space.
JV Opens $30M Workforce Housing in Sacramento
The 77-unit West Gateway Place, co-developed by Jamboree and the West Sacramento Housing Development Corp., is designed to achieve a LEED Silver certification.
Silverback Condo Conversion a Tall Order in Brooklyn
The development company will shepherd the conversion of a 29-story residential tower in New York City’s Brooklyn Heights, making it the tallest condo building in the neighborhood.
Economy Watch: Job Growth Tepid in May
The U.S. economy saw below-average job growth for the month, adding only 138,000 jobs, the Bureau of Labor Statistics reported. However, segments of the economy that affect commercial space absorption still had reasonably good job creation.
Berkadia Closes Sale in Historic SLC Neighborhood
The buyer of the 111-unit community plans to renovate the asset, which was built in 1916 in Salt Lake City’s Avenues neighborhood.