Regions
4 Developments Coming to Suburban NY
The developers announcing the Mount Vernon, N.Y., projects include The Alexander Group/Bluestone, Direct Investment Development, Enclave Equities and Simone Development Cos. The initiative aligns with the state’s new $2.5 billion housing package aimed at attracting investment in market-rate housing statewide.
NMHC, NAA: US Needs 5M New Apartments by 2030
According to a new joint study, apartment supply is not keeping up with demand caused by delayed marriages, an aging population and international immigration.
Economy Watch: Closings Loom for Fashion Retailer
More than 250 stores will close by 2019 and another 400 closings could follow unless landlords grant rent relief, says the owner of such fashion brands as Ann Taylor, Dressbarn and Maurices.
Kiser Group Promotes John Meyer to Senior Director
He has been with Kiser Group for more than eight years, having joined the company as managing director. His responsibilities cover the apartment middle market in the Chicago area.
Allied Orion Expands Denver Management Portfolio
The Arel Capital-owned 141-unit property is the seventh residential asset to join The Collective Glendale, a 793-unit portfolio located near Infinity Park.
Security Properties Expands Its Seattle Portfolio
Together with Intercontinental, the company purchased the five-story building located near Seattle’s Central Business District. The average rental rate was $1,493 as of May.
Greystone Provides $60M HUD Loan for NY Skilled Nursing Facility
The firm also secured a bridge-to-HUD loan to finance Kennedy Management’s acquisition, rebranding and renovation of the 302-bed asset in 2015.
UA Builders Nabs Another Bronx Propco Project
The construction firm is partnering with Badaly & Badaly Architects to deliver a 120,000-square-foot residential development in the West Bronx.
Economy Watch: Washington State Has Healthiest Economy
A recent WalletHub report ranked the 50 states based on economic health, which affects commercial property growth. Washington state took the top spot, followed by California, Utah and Massachusetts.
Republic Snags $100M for DC Apartments
The company received construction financing from CapitalSource for Portals Residential Phase V Building, which will be a 13-story community with 373 units.