Regions
JB Matteson Acquires 216-Unit Sacramento Apartment Community for $29.75M
JB Matteson has acquired Medici Apartment Homes, a 216-unit apartment community in Sacramento, Calif.’s north Natomas submarket for $29.75 million and rebranded it as Avanti. Arroyo & Co. arranged the transaction.
Economy Watch: World Bank Warns of Long-Term Economic Dislocation from Climate Change
The World Bank released a report on the long-term impact of climate change, focusing on the affect on the “lives and livelihoods” of people in three parts of the world.
WiSe, Nuestra Complete Affordable Housing Rehab in Boston
WiSe Urban Development and Nuestra Comunidad Development Corp. have completed the rehabilitation of Washington Park. The property is an eight-building, 96-unit apartment community that straddles the Boston neighborhoods of Dorchester and Roxbury and includes 86 affordable units.
SoulCycle Leases Ground Floor at Related Midwest’s OneEleven
Related Midwest has announced that indoor cycling chain SoulCycle has inked a lease for the 4,200-square-foot ground-floor space at the developer’s upscale mixed-use residential tower, OneEleven, in Chicago.
TODAY’S DEALS: Greystone Closes $43.7M Affordable Transaction in Alabama
Greystone has closed a $43.7 million affordable housing transaction in Alabama; NorthMarq secures $103.7 million for a Texas portfolio; and Berkadia structures $55 million for the construction of a multifamily property located in a master-planned community.
Cadence McShane Completes Texas Seniors Care Community
Cadence McShane Construction Company has completed the comprehensive construction services for Legacy at Falcon Point, a seniors care community in Katy, Texas. The new, 82-unit assisted living and memory care facility was constructed on behalf of PinPoint Commercial LP.
Fannie Mae Partners with Detroit Land Bank Authority to Stabilize Neighborhoods
Fannie Mae has partnered with the Detroit Land Bank Authority to help stabilize neighborhoods hard-hit by foreclosure.
Economy Watch: State Unemployment Rates Edge Down
Unemployment rates decreased in 34 states and the District of Columbia in October compared with September, while five states suffered increases and 11 states had no change, the Bureau of Labor Statistics reported.
New Glendale Property Leases Quickly
The demand for apartments is still brisk in Southern California, if the pace of leasing at the 310-unit Lex on Orange apartments in Glendale is any indication.
HydroPoint Announce Next Generation Smart Irrigation
HydroPoint Data Systems announced at the Irrigation Show & Education Conference its Fall 2014 WeatherTRAK® Smart Irrigation Release building on the Company’s new conservation apps and advanced flow management products announced earlier this year.