Regions
Work Begins on Downtown Chicago Apartment Tower
Ground has broken on Wolf Point West Tower, a 47-story multifamily project in downtown Chicago. When completed in the fall of 2015, the property will feature 509 rental units, 200 parking spaces and more than 400 feet of publicly accessible river walk.
TODAY’S DEALS: Centerline Capital Arranges Loans for Three Multifamily Properties in Oregon
Centerline Capital provides $16.3 million in financing to properties in Eugene and Portland, Ore.; and EverBank supplies a $4.1 million construction takeout loan.
Condo Prices Rising Again in Trio of West Coast Cities
Condominium prices rose again in June in downtown Los Angeles, San Francisco and downtown Seattle, according to The Mark Company’s Condominium Pricing Index.
Economy Watch: Existing Home Sales Up in June
The National Association of Realtors reported that total existing-home sales rose in June by 2.6 percent month-over-month to an annualized rate of 5.04 million units, compared with 4.91 units million in May.
TODAY’S DEALS: HFF Arranges $95M Construction Loan for Hi-Rise in Reston, Va.
HFF arranged a bank construction loan of $95 million for the development of BLVD at Reston Station; and Red Mortgage funds a $31M FHA supplemental loan for a new construction.
Pre-Leasing Commences at New Vernon Hills, Ill., Luxury Community
REVA Development Partners has announced that is has started pre-leasing for its 304-unit luxury community The Oaks of Vernon Hills in the Chicago suburb of Vernon Hills, Ill.
LJ Group, Cresco Capital Group to Develop 552-Unit Student Housing Community in Berlin
The LJ Group recently announced it has committed a total of €100 million of equity (about $135 million) to Cresco Capital Group’s German student housing venture, Cresco Urban Yurt.
Greystar Plans Orlando Apartment Community
Greystar has unveiled plans for a 448-unit apartment property in Orlando, with construction set to start in October for a completion date about a year later.
Yardi Voyager 7S Earns Realcomm Digie Award for Innovative Technology
Soon after its mid-2013 release, Yardi Voyager® 7S became the solution of choice for clients attracted to the platform’s browser-independence, tablet compatibility and ability to add other Yardi solutions to create a full business solution.
National Development Begins Construction on 83-Unit Boston Luxury Development
National Development has started construction on SEPIA at Ink Block, an 83-unit luxury condominium that is part of a planned six-building, mixed-use development in Boston’s South End.