Regions
Economy Watch: Beige Book Says Economy Still Growing
According to the latest Beige Book, which was released by the Federal Reserve, all 12 Federal Reserve Districts reported expanding economic activity.
Criterion Opens Boutique Resort-Style Multifamily Community in North Dallas
Criterion Property Company has opened VV&M Boutique Residential Living, a 310-unit multifamily community situated at the northwest corner of Montfort Road and Verde Valley Lane on the Addison/Dallas border.
Carroll Organization Acquired Three-Property Portfolio
Carroll Organization has acquired a three-property multifamily portfolio consisting of apartment complexes in three different Southeastern states. All together, the portfolio includes 1,937 units in Alabama, North Carolina and Tennessee, expanding the company’s presence in that part of the country.
Brooklyn’s 388 Bridge Street Now 75 Percent Leased
The Stahl Organization and Halstead Property Development Marketing have announced that the 53-story hybrid residential building 388 Bridge Street in Brooklyn is 75 percent leased. The 378-unit, mixed-use building includes 234 rental units, 104 condominiums and 40 penthouse residences.
TODAY’S DEALS: Berkadia Secures More Than $156M in Financing for Capital Senior Living
Berkadia Commercial Mortgage arranges $156.6 million in financing for a portfolio of 15 seniors housing properties; Walker & Dunlop structures a $70.5 million loan for a Boston-area acquisition; and EdR sells two student housing communities for a combined $29.9 million.
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.