Regions
TODAY’S DEALS: Atlanta is Hot, Boston Capital Knows It
Boston Capital buys 294 units from MTS in a JLL-brokered sale; ARA completes an 80-unit sale in Fort Worth; and NorthMarq arranges a $28.5 million refinancing for a California community.
Luxury Oceanfront Condos Approved by Long Branch Planning Board
The planning board of Long Branch, N.J., has granted approval for South Beach at Long Branch, a luxury oceanfront condominium project to be developed by Montville, N.J.-based FEM Real Estate.
Economy Watch: Oil Continues Precipitous Price Drop
The price of crude oil, which is an international commodity, got another downward push when the energy minister of the UAE said that OPEC isn’t going to reverse its recent decision not to cut oil production, even if oil prices go as low as $40 a barrel.
Manhattan, Brooklyn Residential Markets Will Thrive in ’15
Parts of Manhattan are going to attract a new wave of residential buyers, and despite rising costs, Brooklyn’s going to continue to be a hot residential market, according to a newly release set of predictions about 2015 real estate activity by Voda Bauer Real Estate.
TODAY’S DEALS: 1,651-Unit Portfolio Trades Hands in Michigan’s Largest Transaction for 2014
Marcus & Millichap completes Michigan’s largest sale for 2014; M-M Properties picks up 292 units in Houston; and Berkadia originates a $25 million construction loan for a mid-rise.
New York By Gehry at 8 Spruce Street Spotlights Seasonal Art
As the first skyscraper designed by internationally acclaimed architect Frank Gehry, New York by Gehry at 8 Spruce Street is seen by many as a financial district architectural and artistic icon.
Economy Watch: Retail Sales See Healthy Uptick
The Census Bureau reported that U.S. retail and food services sales for November came in at $449.3 billion, an increase of 0.7 percent from the previous month, and 5.1 percent above November 2013.
BLT, Metrovest Open Latest Jersey City Apartments
Co-developers Building & Land Technology and Metrovest have completed a new apartment property in Jersey City, called The Tower. It’s the fourth rental property to open at the developers’ larger development, The Beacon, in the past two years.
Updater Recruits Senior Executive Ash Bell
Updater announced that it has enhanced its leadership team by hiring Ash Bell as executive director of business development for its Multifamily Division. Bell formerly served as the vice president of Multifamily Sales Operations and Business Development at RainMaker Group.
Avison Young Secures Second Major Investment in Germany on Behalf of North American Clients
After having recently launched its presence in Germany with the opening of a new office in Frankfurt on December 1, 2014, Toronto-based commercial real estate services firm Avison Young has advised two Canadian pension funds in the acquisition and financing of a second mixed-use property in Germany.