Regions
TODAY’S DEALS: IPA Brokers Sale of Danvers, Mass. Property for $108.5M, Highest Multifamily Price in Massachusetts YTD
Institutional Property Advisors arranged the sale of Avalon Danvers, a 433-unit multifamily community in the northeastern Massachusetts; Saratoga Capital buys a 93-unit North Carolina asset; and Besen & Associates brokers a 129-unit portfolio in Upper Manhattan.
Purchasing Castles
The financial crisis of the previous decade hit the real estate market hard. But a medieval castle is not like an apartment or a house.
Leyou Chain Store and SF Express Lease 441 KSF at Goodman Landport Logistics Estate
Goodman Group has signed leases with two tenants at Landport Logistics Estate. Leyou Chain Store will occupy 247,570 square feet and SF Express signed up for a total of more than 193,750 square feet.
Economy Watch: Economy Creates 288K Jobs
The U.S. economy created a robust net of 288,000 jobs in June, according to the Bureau of Labor Statistics.
IHG and Hilton Worldwide Expand Operations in the United Arab Emirates
InterContinental Hotels Group and Hilton Worldwide have both announced expansions of their portfolios, with IHG signing two new management contracts for facilities in Abu Dhabi, while Hilton recently held the official opening of a new Dubai hotel.
Ideal Properties Group Re-Launching Brooklyn Luxury Apartments
Ideal Properties Group will re-launch The Bradford in Bedford Stuyvesant, the 105-unit development formerly known as the Acacia, which will now be utilized for luxury apartments.
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.