Regions
Economy Watch: New Rules in the Works for Very Large Banks
In testimony before the Senate Banking Committee this week, Daniel Tarullo, a member of the board of governors of the Federal Reserve, said that the central bank wants to change regulations governing too-big-to-fail banks (or GSIBs, global systemically important banks, in Fed-speak).
TODAY’S DEALS: Mack-Cali, Ironstate Land $192M via NorthMarq for Jersey City Apartment Tower
NorthMarq arranges $192 million for a 763-unit development; CBRE Global Investors acquires 432 units in The Woodlands; and Everbank funds a $2 million acquisition loan for a mixed-use property in Chicago.
Premier Apartments in Silver Spring Holds Grand Opening
The Premier Apartments in downtown Silver Spring, Md., celebrated its grand opening on Wednesday, though it’s been leasing units since early this year.
Rivergate Partners Buys Orlando Apartments for Nearly $10M
Miami-based Rivergate Partners, a joint venture between real estate investors Jay Massirman (Rivergate Cos. president) and Oscar Vila (PSMG managing partner) has acquired Beacon Hill, an apartment community in Orlando, Fla.
Starwood Brings Third W Hotels Facility to Thailand by 2018
W Hotels Worldwide has recently announced to debut W Retreat Phuket – Phang Nga Bay in southern Thailand. The new project will be the brand’s third facility in the country and is scheduled to open in January 2018.
Greystar Selected to Manage Luxury Colorado Rental Community
International real estate firm Hines has selected Greystar to lease and manage Helios, a new 258-unit Englewood, Colo., luxury apartment property.
Economy Watch: Residential Prices Continue to Moderate
Trulia reported that asking prices nationally for residential properties rose 1 percent in August, up a bit from 0.7 percent in July.
TODAY’S DEALS: Landmark Apartment Trust Completes 342-Unit Orlando Acquisition
Landmark Apartment Trust buys a 2002-built apartment in Orlando; Chaucer Creek acquires a community in Charlotte’s ‘hippest’ neighborhood; and Colorado investor acquires a property from Fannie Mae.
LDG, HOC Partner on Redevelopment Project in Silver Spring, Md.
Lee Development Group and the Housing Opportunities Commission of Montgomery County have announced a partnership to redevelop three parcels in the downtown area of Silver Spring, Md., into mixed-use and transit-oriented affordable housing.
ManageAmerica and PayNearMe Partner to Streamline Payments for Manufactured Housing Operators
PayNearMe and ManageAmerica, have partnered to offer a more efficient cash collection method that eliminates the risk of fraud and errors that are rife in traditional cash and money-order processing on-site.