Regions
Economy Watch: GDP Barely Rises in Q1
Real gross domestic product in the United States increased at an annualized rate of 0.1 percent in the first quarter of 2014, according to the “advance” estimate released by the Bureau of Economic Analysis.
APARTMENT MARKET STATISTICS: May 2014
According to PPR/CoStar, average apartment sales price was $107,501 per unit in the fourth quarter of 2013, down slightly from the same period in 2012.
TODAY’S DEALS: Abacus Capital Picks Up Chicago Asset from AEW JV
HFF arranges a 100-unit sale in Chicago; Boston Capital invests in two LIHTC developments in Boulder, Colo.; and Hendricks-Berkadia negotiates the sale of an apartment community in Tampa, Fla.
Meta Housing Corporation Breaks Ground On Affordable Housing Community in Vernon, Calif.
Meta Housing Corporation has announced that it has broken ground on its latest community, Vernon Village Park. The project is the first-ever new private multifamily development in California’s smallest incorporated city, which totaled a population of 112 in the 2010 U.S. Census.
NY Landlord UAM Expands Green Initiatives
Urban American Management has unveiled plans to expand its sustainability program at 3333 Broadway, one of the largest multifamily buildings in New York City, with almost 1,200 units under one roof.
University Student Living Welcomes New Developers
University Student Living (USL), the comprehensive student housing company of The Michaels Organization, has named three new vice presidents to its development team: Tom George, Steve Hillebrand and Kristina Vagen.
Roseview WinnResidential Fund I Acquires The Trails at River Park
Roseview WinnResidential Fund I, established by national real estate development and property management company WinnCompanies, in conjunction with private real estate investment and advisory firm The Roseview Group, has made its first acquisition.
Economy Watch: Home Prices Still Rising, But Not as Fast
S&P Dow Jones Indices reported that the Case-Shiller Home Price Indices, which it publishes, showed that home prices are still going up on an annual basis, though not as much as they have been.
TODAY’S DEALS: Embrey Partners Sells 263 Units in Colorado
Inland Real Estate Group buys a Colorado asset from Embrey Partners; KeyBank provides $28.7 million for a development in North Carolina; and NorthMarq Capital closes on a $10.8 million refinance that won favorable pricing.
IREM and University of Alabama Collaborate to Advance Real Estate Management Education and Careers
The Institute of Real Estate Management (IREM®) and the University of Alabama (UA), founded in 1831 as Alabama’s first public college, have signed a Memorandum of Understanding.