Regions
Economy Watch: Beige Book Reports ‘Strong’ Residential Growth
The Federal Reserve released the latest Beige Book, which reported “all 12 Districts characterizing the pace of growth as either modest or moderate.”
Marcus & Millichap Lists 128-Unit Indiana Community
Marcus & Millichap Real Estate Investment Services are marketing the sale of Embassy Place Apartments, a Class A community in Highland, Ind. The seller is a Northwest Indiana-based builder and the original developer of the property.
Equity to Sell $1.5B Portfolio
Equity Residential has unveiled a major deal to sell $1.5 billion worth of multifamily properties to a joint venture of Goldman, Sachs & Co. and Greystar Real Estate Partners. The transaction will involve 27 properties in various parts of the country.
TODAY’S DEALS: Bernards, Aimco Break Ground on $140M Calif. Redevelopment
Bernards breaks ground on Aimco’s massive Venice redevelopment; Passco Companies completes its second Class A buy in two weeks; and Lucent Capital arranges $9.9 million for the acquisition and re-entitlement of a Platinum Triangle development site.
Corvias Campus Living Appoints New Vice President
Corvias Group, a privately-owned, vertically-integrated real estate solutions group, announced today that Geoff Eisenacher has been named a vice president of business development for Corvias Campus Living, the company’s student housing division.
Property Solutions Promotes Chase Harrington to New Executive Vice President
Property Solutions International Inc., a provider of property management websites and payments, announced the recent appointment of Chase Harrington as executive vice president.
Acquisition and Renovation Loan Secured for Brandon, Fla., Properties
A $49.6 million acquisition and renovation loan has been secured by Miami-based Aztec Group on behalf of an affiliate of Tampa-based Blue Rock Partners, owner and manager of a large central Florida multifamily portfolio.
Economy Watch: Retail Sales Better Than Expected in December
The Census Bureau reported on Tuesday that U.S. retail sales were up 0.5 percent from November to December (important note: the figures are adjusted for seasonal variation, but not price changes).
TODAY’S DEALS: EQR Secures $2.5B Credit Line for Archstone Deal
Equity Residential closes a $2.5 billion credit facility; The Bozzuto Group announces details regarding a D.C. condominium development; and NorthMarq Capital arranges a $16.5 million life company loan.
Continuing-Care Housing Under Way on Vancouver Island
Work is under way on the Heights at Mount View, a continuing-care housing and memory support property in Saanich, British Columbia, which is part of greater Victoria.