Regions
Economy Watch: State Unemployment Rates Mostly Down in March
According to the Bureau of Labor Statistics, during March 21 states had unemployment rate decreases, 17 states and the District of Columbia had increases, and 12 states had no change, compared with February.
Philip Watkins Joins Megalith Capital Management as Principal
Megalith Capital Management, a residential real estate owner and developer focused on investments in New York City and urban, supply-constrained markets, announced that Philip Watkins has joined as a principal.
Grand Opening Announced for New Waldwick Townhome Community
The K. Hovnanian Homes townhomes development, Farm Estates, has announced that it will soon hold a grand opening celebration at the community’s site in Waldwick, N.J.
TODAY’S DEALS: MG Properties Acquires 770 Units in California
MG Properties drops $80 million on four California apartment communities; Beech Street closes a $9.1 million refinance for a Colorado asset; and Essex Realty brokers the sale of a courtyard apartment building in Chicago.
7×7 Development Acquires Site for SF Condos
7×7 Development has acquired 388 Fulton St., one of the last remaining undeveloped parcels in San Francisco’s Hayes Valley neighborhood. Plans for the corner site two blocks west of City Hall call for a 69-unit condo building with retail on the ground floor.
Deco Communities Proceeding With Midtown Phoenix Condo Development
The locally based Deco Communities has acquired 2346 N. Central Ave. in Midtown Phoenix, which is currently occupied by a 23,000-square-foot office building. The company paid $2.35 million for the site, and plans to develop condos there.
CPC Receives $200 Million to Finance New York State Housing
The New York State Common Retirement Fund has committed $200 million in new funding to the Community Preservation Corporation.
Economy Watch: Initial Unemployment Claims Reaches Another Low
Initial unemployment claims came in at an annualized 304,000, an uptick of 2,000 from the previous week’s revised level, according to the U.S. Department of Labor on Thursday. Last week the weekly claims rate was at a post-recession low.
Groundbreaking for Second Trump Plaza Building in Jersey City Expected in June
Developers of Trump Plaza in Jersey City, N.J., are gearing up for the ground breaking on the second tower of Trump Plaza in Jersey City after the city council approved a 5-year tax abatement on the property last week.
Prologis Japan Inks Big Prelease for In-development Osaka Facility, Nabs Two Awards for Its REIT
Prologis recently inked agreements for a large amount of space at one of its development projects. The company also received two awards for its Nippon Prologis Real Estate Investment Trust from Thomson Reuters DEALWATCH AWARDS 2013 and Capital Eye.