Regions
Stahl Begins Lease-Up at Brooklyn’s Tallest Residential High-Rise
Leasing has started at the rental units of 388 Bridge Street, a 378-unit multifamily development in Downtown Brooklyn that is the borough’s tallest residential high-rise.
TODAY’S DEALS: Stockbridge Capital Group Refinances 336-Unit Asset
HFF arranges refinancing for a community in Pasadena, Md.; Madison Realty Capital acquires an $18 million mortgage portfolio; and Great Lakes Capital invests $4.8 million in a new affordable housing development.
Praedium Group Acquires South Blvd. Apartments in Las Vegas
New York-based Praedium Group acquires a 320-unit Class A community in Las Vegas for $41.9 million. The 2012-built asset was 93 percent leased at the time of sale.
Affordable Housing Slated for San Francisco’s Hunters Point Shipyard
AMCAL Multi-Housing and Lennar Urban to develop affordable apartments in southeast San Francisco’s Hunters Point Shipyard-Candlestick Point.
Economy Watch: Annualized GDP Rate at 4.1 Percent for 3Q
Revised 3Q GDP increases to an annualized rate of 4.1 percent, while state unemployment levels continue to drop, with energy-booming North Dakota leading the way with a jobless rate of 2.6 percent.
Affirmed Housing Group to Move Forward with Vermont Villas in Los Angeles
Affirmed Housing Group’s Los Angeles project, Vermont Villas, a 79-unit permanent homeless housing for low-income veterans and special needs seniors, has received 9 percent tax credit funds, which will allow the project to begin construction in April 2014.
TODAY’S DEALS: Walker & Dunlop Arranges $43.5M for New Orleans Acquisition
Walker & Dunlop provides $43.5 million for a New Orleans acquisition; Apartment REIT Home Properties acquires 252 units; and Johnson Capital arranges $5.4M loan for purchase of affordable apartment community.
Related Completes Affordable Housing Rehab in Middleton, NY
Major renovations at the at the Southeast Towers residential building in Middletown, N.Y., have been completed.
Cohen & Associates, Highroad Acquire Westwood Property
Cohen & Associates and Highroad Realty & Management have acquired a 60-unit apartment building in West Los Angeles for $21.5 million.
Economy Watch: National Association of Realtors Reports Existing Home Sales Dropped
The National Association of Realtors reported total U.S. existing home sales, including single-family, condos and co-ops, dropped 4.3 percent in November compared with October, down to an annualized rate of 4.9 million units.