Regions
Economy Watch: How Strong is Employment Among Millennials?
The April Bureau of Labor Statistics employment report was generally good news, with a net gain of 223,000 jobs and an unemployment rate of 5.4 percent, the lowest that metric has been in the last seven years, since the onset months of the recession.
TODAY’S DEALS: RADCO Completes Third 2015 Buy with Clearwater Apartments
The RADCO Cos. drops $34.2 million on a Florida asset; OpenPath kicks off a value-add play with an acquisition in Colorado; and Quantum Capital arranges a $33 million refinancing.
Leasing Under Way at Orlando-Area Apartments
Pre-leasing has kicked off at Altís Sand Lake, an apartment development in the unincorporated Dr. Phillips area of Orange County, Fla., near Orlando. The property has 315 private-entry units with attached private garages.
Doors Open at WestCorp Management Group’s New 308-Unit Apartment Community
WestCorp Management Group announced the official grand opening of its newest apartment community in Southern Nevada.
Evictions at Lowest Level Since ‘09
According to a new analysis by TransUnion SmartMove, the number of apartment evictions in 2014 was the lowest in any year since 2009.
Carroll Org. Buys Jacksonville Apartments
Carroll Organization, along with AIMS Real Estate, a business unit within Goldman Sachs Asset Management, has acquired 5 Thousand Town in Jacksonville, Fla. The 130-unit apartment property was completed in 2013.
TODAY’S DEALS: Hamilton Zanze Grabs Fifth Community in Portland MSA
Hamilton Zanze acquires a 210-unit asset for $22 million; Federal Capital Partners provides Kane Realty Corp. with mezzanine financing for a Raleigh, N.C., development; and a Detroit apartment property sells for $2.5 million.
‘Vista Lux’ Retail Strip Coming Soon to AKOYA Oxygen in Dubai
DAMAC Properties, the developer of Dubai’s AKOYA Oxygen, revealed the master-planned luxury living community’s upscale retail strip at the Arabian Travel Market exhibition, a major travel and tourism event held in Dubai. Called Vista Lux, the upscale entertainment and retail district will encompass some 1 million square feet, extending through the center of the neighborhood.
Greystar & Ivanhoé Cambridge Team Up on Eco-Friendly D.C. Community
Greystar and Ivanhoé Cambridge are developing 801 New Jersey Ave., SE, a new mixed-use development in Washington, D.C.