Regions
Marcus & Millichap Promotes Joseph P. Thomas to Associate Vice President Investments
Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Joseph P. Thomas to associate vice president investments.
Marcus & Millichap Promotes James E. Kordell to Associate Vice President Investments
Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted James E. Kordell to associate vice president investments.
MARKET SNAPSHOT: Baton Rouge Posts Negative Rent Growth in Key Submarkets
Due to a marked lag in demand from 2008 to 2011, the city of Baton Rouge saw a precipitous decline in rent growth last year—falling from 4.2 percent to -0.3 percent overall.
Economy Watch: Wealthy Households Do Well in Post-Recessionary Period
The Pew Research Center reported this week that the wealthiest 7 percent of American households experienced a 28 percent increase in their wealth during the post-panic years of 2009 to 2011.
D.C.-Area Apartment Building Repositioned as Condos
Currently, the Washington, D.C., area has more than 30,000 new rental apartments in the pipeline. That is among reasons Silverwood Companies and Freedom Development are shifting a recently acquired 67-unit apartment building in Arlington, Va., to condominium ownership.
Camden Property Trust Opens New High-End Community in D.C.
Camden Property Trust has opened Camden South Capitol, a 276-unit high-end apartment community in the Washington, D.C., market.
Cortland Partners Buys Atlanta, DFW Apartment Properties
Cortland Partners has acquired a portfolio of multifamily properties totaling 2,237 units in a series of transactions worth $244 million.
TODAY’S DEALS: IPA Brokers $19M California Property Sale at $204 Per Square Foot
IPA arranged the sale of Il Pompeii Apartments, a 111-unit luxury apartment community; and Jason Cohen Pittsburgh sells a property at a 350 percent premium.
Beal Derkenne Construction to Build Arizona Student Housing Community
Beal Derkenne Construction has started construction on Park Avenue, in Tucson, Ariz.
Economy Watch: Existing Home Sale Dip
Total U.S. existing home sales dropped 0.6 percent to an annualized rate of 4.92 million units in March from 4.95 million units in February, according to the National Association of Realtors.