Regions
Economy Watch: Housing Market Gets Some Legs
According to the S&P/Case-Shiller Home Price Indices released, all three headline composites ended 2012 with strong gains.
Upper East Side Condos Hit the Market
In yet another indication of the return of the NYC condo market from its zombie period (ending perhaps in 2012), 150 E. 72nd St. has launched condominium sales.
Joint Venture to Develop 131-Unit Pittsburgh Community
Pennrose Properties and Ralph A. Falbo Inc. have begun development on a multifamily community called The Gateway at Summerset, located in the Squirrel Hill section of Pittsburgh.
Tight Credit, Flawed Appraisals and Erratic Supply Chain Hurt Jobs, Housing
The budding housing revival driven by pent-up consumer demand still faces a number of obstacles, including tight credit for builders along with a stretched lot and building supply system in many markets that are barely keeping up with demand.
TODAY’S DEALS: SoCal LIHTC Property Trades for $23.4M
Marcus & Millichap arranges the $23.4 million sale of LIHTC property; SBV Communities enters South Carolina with a 332-unit buy; and Alliant Capital closes on a $4.95 million loan.
Yardi Signs On Again as an IREM Industry Partner
The Institute of Real Estate Management (IREM®) announced that Santa Barbara-based Yardi Systems Inc. has become a 2013 IREM® “Industry Partner” at the highest level of participation, continuing a long-time, mutually rewarding relationship between the two organizations.
Incentives Offered to Buyers at Palisades Park Condos
On the heals of a successful $25,000 incentive program for buyers at The M at Englewood South, the owners of the condominiums will be offering similar incentives to those who sign a contract on a new home at Trio, located at 800 12th St., in Palisades Park, by March 31.
Economy Watch: LPS: Home Prices Edge up in December
Ahead of Tuesday’s Case-Shiller numbers, Lender Processing Services released its LPS Home Price Index report, which is based on December 2012 residential real estate transactions. According to the index, U.S. home prices were up 0.1 percent in December compared with November, and up 5.8 percent year-over-year.
Texas Mulitfamily Developer to Access EB-5 Funding
Texas Urban Triangle Regional Center and multifamily developer TDI have formed a partnership to develop apartment properties funded through EB-5 foreign investment financing.
TODAY’S DEALS: TGM Associates Buys 712-Units in Chicago Suburb
TGM Associates buys a 712-unit asset from RREEF; Oak Grove Capital originates five loans in two weeks; and a Southern California LIHTC property sells for $23.4 million.