Regions
Recent Slowdown in Economic Growth Likely Short-Lived
The year’s strong start faded late in the first quarter across many key economic indicators, but the recent set-back likely is a temporary one, according to Fannie Mae’s Economic & Strategic Research Group
Economy Watch: Unemployment Inches Down in Most States
The Bureau of Labor Statistics reported that the unemployment rate in 40 states and the District of Columbia dropped, while three states experienced increases and seven states had no change in April compared with March.
Manhattan Condo Property Sees Rapid Sales
In another example of the revived heat of New York’s condo market, the developers of Citizen, a new condo property in Manhattan, report that about 85 percent of its units have been sold in roughly eight months of active marketing.
TODAY’S DEALS: Elco Landmark Apartment Trust Acquires Six Assets
Elco Landmark Apartment Trust completes a series of acquisitions in Texas and North Carolina; and Johnson Capital arranges $18.64 million in joint venture equity financing for two new construction projects.
Proffitt Dixon Partners Acquires Site for $40M Multifamily Community
Proffitt Dixon Partners has acquired the site for a $40 million multifamily property called Fountains Uptown, located in Charlotte, N.C.
Campus Apartments’ CEO Named Homewood Suites Developer of the Year
Campus Apartments announced that President and CEO David Adelman was named the 2012 Homewood Suites Developer of the Year for Hilton Worldwide. One developer from each of Hilton’s Focused Service Brands is recognized with this honor annually.
Daisho Group Launches $300M Speculative Office Project in Brisbane’s CBD
Japanese developer Daisho Group has recently broken ground on a $300 million office tower in Brisbane, the capital and most populous city in the Australian state of Queensland.
Economy Watch: Housing Starts Take a Dip
Housing starts, which have been gaining upward momentum in recent months, took an unexpected dip in April, according to the Census Bureau.
SyndicIT Services Announces Associated Estates Realty Corporation’s Deployment of Digital Document Management Technology
SyndicIT Services (SyndicIT) today announced that Associated Estates Realty Corporation has deployed the company’s DocumenIT service for digital document and content management.
Marquette Buys Suburban Chicago Apartments
The Marquette Cos. has bought the 304-unit Farmington Lakes apartment community in Oswego, Ill., for an unspecified price.