Regions
Fuss & O’Neill Captures Award for Mill at Hop Brook
Two CREW CT Blue Ribbon Awards have been bestowed on Fuss & O’Neill Inc., a firm providing scientific, engineering, planning and design services, for its work at the Mill at Hop Brook development in Simsbury, Conn.
Economy Watch: Consumer Income Up, Spending Down
The Bureau of Economic Analysis reported that Americans’ personal income increased $43.7 billion, or 0.3 percent, in April compared with March.
RMK Management Welcomes First Residents to 73 East Lake Luxury Apartments
Chicago—RMK Management has announced that residents have started moving into the 42-story, M & R Development apartment building in Chicago’s Loop. The luxury building is the first new-construction apartment tower to open in 2014 and M & R’s first luxury apartment tower to open in Chicago since 2010.
TODAY’S DEALS: Steadfast Apartment REIT Closes First Acquisition
Steadfast Apartment REIT completes its first acquisition with a Tennessee purchase; NorthMarq Capital finalizes $41 million seven-year refinancing loan; and Cohen Financial secures a $26.3 million bridge loan for a fractured condo in suburban Orlando.
NYC’s First Modular Multi-Story Property Opens to Renters
With Douglas Elliman Development Marketing launching leasing for The Stack, Manhattan’s first modular residential building has hit the rental market.
Apartments Still a Landlords’ Market, Says NAR
By Dees Stribling, Contributing Editor Washington, DC—The forecast for rental apartments is still positive, according to the Q1 2014 Commercial Real Estate Outlook, which was released this week by the National Association of Realtors. In fact, according to the outlook, the apartment sector will remain the strongest kind of commercial real estate into 2015, as it has been for a number of years now. NAR predicts that apartment vacancies nationwide will edge up from 4 percent, as of the second quarter of 2014, to 4.1 percent in Q2 2015. Though that represents a small increase, it doesn’t mean a fundamental…
New Joint Master Plan for Philadelphia’s 30th Street Station Underway
New York-based Skidmore, Owings & Merrill LLP (SOM), in association with Parsons Brinckerhoff, OLIN and HR&A Advisors has been selected by Amtrak, Drexel University and Brandywine Realty Trust to develop a comprehensive joint master plan for the area surrounding Philadelphia’s 30th Street Station.
TODAY’S DEALS: Harbor Group Buys 568 Units in CBRE-brokered Sale
CBRE’s New York Institutional Group brokers a two-property Connecticut sale; Grandbridge brokers $24.5 million Miami rental apartment construction financing; and The Bascom Group closes the first acquisition under its new private capital program.
Foxford Communities Begins Sale of Ill. Luxury Apartments
Foxford Communities have begun sales at Clocktower Pointe, a 108-unit luxury condominium development in Countryside, Ill.
Berkadia Expands Mortgage Originations Capabilities with Acquisition of Keystone Commercial Capital
Berkadia Commercial Mortgage LLC announced the acquisition of Keystone Commercial Capital, a full-service commercial mortgage banking company headquartered in Phoenix.