Regions
Capital Improvement Complete at D.C.’s Marbury Plaza
A $5 million capital improvement program is complete at the 672-unit Marbury Plaza apartment community in Washington, D.C. In its wake, the community is being given another round of upgrades priced at $1.3 million.
Economy Watch: Healthy Job Creation in February
The U.S. economy created 236,000 jobs in February, according to the Bureau of Labor Statistics. That’s a considerable improvement over January, when 119,000 jobs were created, and compares favorably with the 2012 monthly average of 181,000 jobs created per month.
Manulife Real Estate Acquires New Retail Property in Western Canada
In a C$29.25 million deal (approximately USD $28.35 million) that closed on March 5, Manulife Real Estate has purchased the 91,517-square-foot Aldergrove Village Shopping Centre in Greater Vancouver’s Langley Township of British Columbia.
Prologis Announces Construction Start at New Green Industrial Park in Tokyo’s Saitama Ken-O Submarket
Prologis has recently announced that the development process of a major commercial real estate project in Tokyo’s Saitama Ken-O submarket.
Steadfast Income REIT Acquires $12.75M Historic Community
Steadfast Income REIT Inc. announced it has acquired a historic loft conversion in Kansas City, Mo., for $12.75 million.
TODAY’S DEALS: Landmark Buys 795 Units
Landmark Apartment Trust acquires three communities; Beech Street closes a $5.7 million refi on a Chicago asset; and Johnson Capital arranges a $21.32 million loan for Seattle property.
Four Seasons Partners to Renovate Historic Buildings as a Luxury Mixed-Use Development
The Four Seasons has partnered with Grupo Villar Mir’s Inmobiliaria Espacio and Grupo OHL to develop the first Four Seasons hotel in Spain.
Fairfield Residential Acquires Garden Apartment Community In Southern Palm Beach County
Fairfield Residential, a San Diego-based apartment management company, has purchased Spring Harbor at the Landings, a 488-unit luxury garden apartment community located in Delray Beach, Fla., for $69.12 million from Dallas-based Invesco Real Estate.
Economy Watch: Fed Says Economic Still Expansion ‘Modest to Moderate’
The Federal Reserve released its latest Beige Book, which said that “economic activity generally expanded at a modest to moderate pace since the previous Beige Book,” but—and this is a fairly large but—”many Districts noted rising gasoline prices and fiscal policy as having a negative effect on consumer sales.”
Ground Broken on Affordable Housing in Irvine
Affordable housing specialist Jamboree Housing Corp. has broken ground on the second phase of Doria Apartment Homes in Irvine, Calif.