Regions
Carrfour and Pinnacle Open Affordable Property in Little Havana
Carrfour Supportive Housing and Pinnacle Housing Group have opened Amistad Apartments, an 89-unit property they developed in Miami’s Little Havana neighborhood.
Edward Yang Announced as Partner at JBM Institutional Multifamily Advisors
CEO & Chairman Jamie May announced that Edward Yang has become a partner and executive director of JBM™ Institutional Multifamily Advisors with offices in Tampa, Orlando and Naples.
Vantage Assumes Helm at The Premier in Silver Spring
Vantage Management recently took over the management of The Premier, a six-month-old, 14-story high-rise apartment tower in Silver Spring, Md. Owned by Guardian Realty Investors and designed by WDG Architects, The Premier features 160 residential units, as well as retail space.
Economy Watch: Retail Sales Up Modestly in June
Retail sales were up 0.2 percent in June compared with May, according to the Census Bureau, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes. Total sales for the month came in at $439.9 billion, up 4.3 percent from June 2013.
TODAY’S DEALS: Pillar Originates $20.7M HUD Loan
Pillar originates a $20.7 million acquisition and rehabilitation loan for an affordable asset in Michigan; HFF arranges $8.5 million for a 244-unit community in Tampa; and Boston Capital provides capital for two LIHTC properties in North Carolina.
Oden Hughes Adds Property Management Services
Austin-based Oden Hughes LLC has launched a new property management division headed by industry veteran Stephani Park.
Bell Partners Acquires 240-Unit Apartment Community in Boston Metro Area for $54.1M
Bell Partners Inc., has acquired Lodge at Stoughton, a 240-unit community in Stoughton, Mass., for $54.1 million from the Hanover Company.
Economy Watch: Citi Pays Fine for Subprime Misdeeds
Citigroup agreed to pay $7 billion to settle charges levied by the U.S. Department of Justice that the banking giant routinely and brazenly securitized and sold vast numbers of bum mortgages to investors in 2006 and ’07, and knew it was doing so.
Hensel Phelps, Mithun Awarded Contract for New UCI Student Housing Community
The University of California, Irvine has announced that it has selected construction and design firm Hensel Phelps in partnership with architect Mithun to design and construct the Mesa Court Expansion student housing community. The $92 million project it targeting LEED Platinum and will add 780 beds to the university’s housing.
LaSalle Group Opens New Memory Care Property in San Antonio
Autumn Leaves of Stone Oak, a new construction memory-care property, has opened in San Antonio. The 30,000-square-foot facility is at 20271 Stone Oak Parkway, 14 miles north of downtown, and will provide specialized care for about 50 residents with Alzheimer’s, dementia and memory impairment.