Regions
Economy Watch: State Unemployment Rates Edge Up in July
Thirty states had unemployment rate increases in July compared with June, eight experienced decreases and 12 states and the District of Columbia had no change, the Bureau of Labor Statistics reported.
Morningside Group Teams With Crossroads Development Partners On Mixed-Use Development in North Chicago Suburb
Morningside Group and Crossroads Development Partners are teaming on NorthShore 770, a planned 347-unit luxury apartment and 101,435-square-foot retail center project in Northbrook, Ill., scheduled to open at the end of 2015.
APARTMENT MARKET STATISTICS: August 2014
The three-month moving average of multifamily housing starts now exceeds the average recorded between 2000 and 2007, according to the National Association of Home Builders.
AUM Predicts Higher Natural Gas Prices will Impact Multifamily
A report published last week by AUM, prepared by that company’s chief energy office Dimitris Kapsis, notes that natural gas prices have been creeping up recently—atypical for the late summer—and posits that now is the time for major users of natural gas (such as owners of multifamily portfolio) to lock in prices.
TODAY’S DEALS: Cushman & Wakefield Arranges $82.4M in Portfolio Acquisition Capital for LCB Senior Living
Cushman & Wakefield arranged $82.4 million of acquisition financing; RADCO buys 553 units in metro Atlanta; and Greeysteel arranges an apartment transaction in Silver Spring, Md.
Carter Adds Jimmy Barry and TP Bullock to Senior Development Team
Carter, a real estate investment, development and advisory firm, announced the addition of Jimmy Barry as senior vice president of development and TP Bullock as vice president of construction and design.
KTGY Architecture + Planning Adds Terry A. Willis AIA, LEED AP as Principal in Denver Office
KTGY Group, Inc., Architecture + Planning, has added Terry A. Willis, AIA, LEED AP, as a principal in the firm’s Denver office.
Maplewood Senior Living to Develop 27 Acres into Senior Housing
Maplewood Senior Living has announced its intent to develop 27 acres in Southport, Conn., into a three-story, 98-unit traditional assisted living and memory care community.
Economy Watch: E-Commerce Continues to Expand
The Census Bureau reported that U.S. e-commerce sales for the second quarter of 2014 were $75 billion, an increase of 4.9 percent compared with the first quarter of the year.
Affordability Extended at The JBG Companies’ Falkland Chase
An agreement has been struck to extend the term of 90 rental assistance units at the Falkland Chase Apartments in Silver Spring, Md. The JBG Companies and Montgomery County’s Department of Housing and Community Affairs (DHCA) are the parties entered into the agreement.