Regions
Specialized Software Managing Apartment Residents’ Package Deliveries
More than 37 million U.S. apartment residents receive enormous numbers of holiday packages every year. A load that large requires more than mere tracking numbers. For that reason, one in four apartment communities use specialized software to manage residents’ packages on site.
BGC Partners Agrees to Acquire Apartment Realty Advisors (ARA) and Its Members
BGC Partners Inc., a global brokerage company servicing the financial and real estate markets, announced that it has entered into agreements to acquire Apartment Realty Advisors (ARA) and its members representing substantially all of ARA’s revenues.
Economy Watch: Black Friday Sales Edge Down
A variety of retail sales estimates came out over the weekend, all pointing to the conclusion that Black Friday by itself isn’t quite the sales driver it once was.
Universe Buys LA County Apartments for $8.6M
Universe Holdings, a privately held real estate investment specialist, has acquired The Sycamores, a 50-unit apartment community in Inglewood, in southwestern Los Angeles County. The company paid about $8.6 million for the property.
TODAY’S DEALS: Kushner, Extell Grab Oceanfront Mixed-Use Asset in N.J.
Kushner and Extell buy an oceanfront asset with expansion plans; Steadfast Apartment REIT completes its second buy in Georgia; and NC Pepe Corp. sells a property in Brooklyn’s Williamsburg.
Hunter Plaza Mixed-Income Apartment Transformation Under Way in Fort Worth
BOKA Powell and Fort Worth Housing Authority have started construction on a redevelopment project that will transform Hunter Plaza in downtown Fort Worth into an 11 story, mixed-use and mixed-income residential building.
Houston Apartment Community Sold by Lupert-Adler Partners
Tiburon, a 320-unit Class A apartment community in Houston has been sold by Lubert-Adler Partners to a private individual. ARA Real Estate Investment Services represented the Philadelphia-based company in the transaction.
Economy Watch: Residential Price Increases Still Slowing Down
The deceleration of residential prices continues apace, according to the latest S&P/Case-Shiller Home Price Indices.
Work Begins on West Miami Apartments
Ground has been broken on Gables Prado, an apartment development in West Miami, an inner suburb of Miami also near Coral Gables. The property, at 950 S. Red Road, includes 194 units.
TODAY’S DEALS: StarPoint Grabs 259 Units in Los Angeles County
StarPoint completes a $51.8 million acquisition; Marcus & Millichap brokers a 26-unit sale in Illinois; and NorthMarq Capital arranges $11.86 million in Fannie Mae acquisition financing.