Regions
Economy Watch: Home Price Appreciation Even Slower
CoreLogic reported that home prices nationwide, including distressed sales, increased 5.6 percent in September compared to the same month last year.
Work Begins on Downtown Houston Apartments
Ground has been broken for Catalyst Houston, a high-rise apartment building in the Houston CBD. Altogether, the 28-story property will include 361 units, and is slated for completion in the summer of 2016.
TODAY’S DEALS: Cornerstone Completes Phoenix Disposition
IPA brokers Cornerstone’s sale of a 240-unit asset in Phoenix; URS Capital Partners buys an Ohio apartment community; and NorthMarq Capital negotiates $14 million in acquisition financing.
Opus Develops 26-Story Luxury MF in Downtown Minneapolis
The Opus Group has completed development of The Nic on Fifth, a 26-story, luxury high-rise apartment community in downtown Minneapolis, designed to meet LEED certification.
Grace Hill Acquires Education Division of LeaseHawk and Announces Best-of-Breed Partnership for Multifamily Housing Industry
Grace Hill, a provider of online education and learning management solutions for the multifamily housing industry, and LeaseHawk jointly announced the acquisition of LeaseHawk’s education division.
Economy Watch: Construction Spending Drops in September
The Census Bureau reported that construction spending during September 2014 came in at an annualized rate of $950.9 billion, a drop of 0.4 percent compared with August.
Construction Underway on West Humboldt Place in Chicago
Work has begun on West Humboldt Place, a 13-unit apartment building on the West Side of Chicago. Once complete, the new housing development will serve low-income families with disabilities.
Leasing Underway at Related California’s The Emerson in Los Angeles
Related California has announced that leasing has started at the company’s new downtown residential apartment building, The Emerson.
TODAY’S DEALS: CBRE Acquires Portland Apartments from Capri Capital
ARA brokers a $54.1 million Portland sale; Equus completes the disposition of a 1,100-unit portfolio in Atlanta; and Capital Fund Services sources financing to preserve affordable housing stock in Indiana.
The Spot Experience-Silverstein Properties Unveiling is No Shaggy-Dog Story
Pet care services provider The Spot Experience has launched the first-ever full-scale onsite pet services residential amenity. The 9,000-square-foot state-of-the-art facility is offered in partnership with Silverstein Properties on the lobby level of Silver Towers, along 42nd Street.