Regions
TODAY’S DEALS: JV Lands Construction Financing for Virginia Project
A three-party joint venture lands financing for a Class A development in Virginia; Raintree Partners buys a California asset for $60 million; and GFI sells a Brooklyn multifamily property for 10 time the rent roll.
Joint Venture Plans Major Redevelopment Project in Toronto’s Downtown West
RioCan Real Estate Investment Trust, Allied Properties Real Estate Investment Trust and Diamond Corp. have entered into an agreement to purchase the Globe & Mail Lands in Toronto for $136 million.
Cardinal Group Purchases Texas Multifamily Community for $11M
Cardinal Group Investments has teamed with Fundamental Advisors on the $11 million acquisition of Century Square, an apartment community in the Hyde Park neighborhood of Austin, Texas, which was purchased from Roscoe Properties.
MARKET SNAPSHOT: Phoenix Jobs Market Bounces Back after Long Post-Recession Lull
After lagging behind the rest of the country in post-recession jobs recovery, the Valley of the Sun has seen considerable gains over the last few quarters.
Economy Watch: Fed Says Growth at “Measured Pace”
The Federal Reserve released the latest Beige Book and for the moment, the central bank isn’t characterizing the U.S. economic as experiencing “moderate” or “modest” growth.
CBRE Appoints Brian McAuliffe to Lead Firm’s Multi-Housing Investment Sales Practice
CBRE Group Inc. announced the appointment of Brian McAuliffe as senior managing director of CBRE’s Multi-Housing Group.
Interface Names Wes Millner Managing Director of Military Sales
Growing what already is a strong foothold in the military sector, Interface is seeking an even larger share of that market and has named Guy Wesley (Wes) Millner to a newly created position of managing director of military sales.
UDR Lower Manhattan Properties Fully Functional
Damage estimates from Hurricane Sandy, which roiled the Northeast a month ago, are still coming in. Multifamily specialist UDR has reported that it estimates that the storm caused total damages to the properties of between $28 million and $32 million.
TODAY’S DEALS: GDC Breaks Ground on Luxury Rental in Orlando
GDC breaks ground on a six-story luxury rental development; Baron Properties picks up a 380-asset in Houston; and HFF closes on the $39.3 million sale of an East Orange, N.J. apartment property to SDK Apartments.
Tryko Partners’ Loch Raven Village Renovation Nears Completion
Just one year after it was purchased by Tryko Partners LLC, Loch Raven Village Apartments, a 495-unit Baltimore rental community, has reached 96 percent occupancy.