Regions
Washington Property Breaks Ground Again in Montgomery County
Washington Property Co. has broken ground on Solaire Bethesda, a 139-unit apartment community that will also feature 6,400 square feet of ground-floor retail space and a two-level underground parking garage. The development is slated for completion in 2016.
TODAY’S DEALS: Bascom, Oaktree Buys First Property in $250M Venture
Bascom and Oaktree buy a 320-unit asset in California, the first investment in a new venture; Passco Companies purchases a Research Triangle asset for $38.8 million; and CBRE/New England arranges a $3.5 million refinance for New Hampshire student housing.
Bozzuto Construction Begins Work on New DC Development
Bozzuto Construction has announced that it has commenced site work on a $42 million condominium development at V Street NW and 15th Street NW in the popular U Street Corridor of Washington, D.C.
Economy Watch: Home Price Increases
In yet another metric confirming that home prices nationwide are still increasing but not as fast, CoreLogic reported that home prices, including distressed sales, increased 8.8 percent in May 2014 compared to the same month a year ago.
Hutton Completes Apartments in Eastern LA County
Hutton Cos. has completed the 172-unit La Verne Village Luxury Apartment Homes & Shops in La Verne, Calif., which also features about 15,000 square feet of retail. The developer has tapped Western National Property Management to manage the property.
TODAY’S DEALS: MacFarlane Buys High-Profile L.A. Development Site
MacFarlane announces plans to build 600-plus units in Los Angeles; Grandbridge Real Estate Capital completes a $21.3 million construction financing secured from a bank; and Capital One closes $14.6 million for an assisted living facility in Tequesta, Fla.
DSF Group Acquires 433-unit Community in Danvers, Mass.
Boston-based real estate investment and development firm The DSF Group has announced that it has acquired the Danvers, Mass., community Avalon Danvers for $108.5 million in the largest transaction in the Boston market this year.
Economy Watch: Pending Home Sales Spike in May
Pending U.S. home sales rose sharply in May, with lower mortgage rates and increased inventory accelerating the market, according to the National Association of Realtors.
New Affordable Housing Community to Open in Newburgh, NY
Developer Jonah Mandelbaum joined with The Community Preservation Corporation Inc., Independent Home Care Inc., Independent Living Inc., New York State Homes and Community Renewal, for a groundbreaking on Independence Square, a new affordable housing community being built in Newburgh, N.Y.
Greysteel Company Announces Expansion to Baltimore
The Greysteel Company, a real estate investment services firm with offices in the Washington, D.C. and Dallas-Fort Worth markets, announced the opening of its Baltimore office. Located in Pikesville, Maryland, the office will serve as the Company’s interim headquarters in the Baltimore market.