Regions
Tower Companies to Overhaul Silver Spring Community with Addition of 1,400 Residential Units
The Tower Companies, a family-owned developer, will redevelop The Blairs, a community of apartments and parking lots located in Silver Spring, Md., into 1,400 new apartments, shopping, walking paths and green space.
East Harlem Center for Living and Learning Breaks Ground
Ground has been broken on East Harlem Center for Living and Learning, a new 151,000-square-foot mixed-use development to offer 88 affordable apartments, a 58,000-square-foot K-8 charter school and more than 6,000 square feet of office space to be used by not-for-profit organizations.
Economy Watch: Foreclosures Plummet Because of California
RealtyTrac reported on Thursday that U.S. foreclosure filings—meaning all default notices, scheduled auctions and bank repossessions—were reported on a bit more than 150,800 residential properties in January.
Marriott Planning Third Peru Venue and Second Hotel in Lima as Expansion Talk Intensifies
Marriott International Inc. is set to expand its operations in the South American state of Peru with a brand new Courtyard by Marriott Hotel location in Lima, the country’s third largest city.
HFF West Coast Leadership Announcements
HFF experienced significant growth on the West Coast in 2012 and in response to this growth the firm has made changes to its West Coast leadership team.
San Diego County Apartments Trade for $3.5M
An apartment property at 1717 N. Vulcan Ave. in Encinitas has changed hands for $3.5 million. The seller was a partnership that had acquired the property in 2010 as a value-add, while the buyer was a private investor.
TODAY’S DEALS: GoldOller Acquires a Jacksonville Asset for $56M
GoldOller buys a 555-unit asset; Marcus & Millichap Capital Corp. arranges a $8.4 million refinancing for a Philadelphia community; and Boston Capital invests in two affordable developments.
Perkins Eastman and Small Brothers to Develop Luxury Mixed-Use Community
Perkins Eastman and Small Brothers have begun construction on SKYE Condominiums in Charlotte, N.C.
MARKET SNAPSHOT: Employment Continues to Grow in New Orleans, Expanding Population and Multifamily Demand
The Big Easy continues to sport strong fundamentals and is becoming an incubator for the leisure and hospitality sector, having added 4,000 new positions in 2012.
Luxury Twin Towers Planned for Australia’s Top Investment Suburb
A new twin tower development project is planned by Sydney-based Australian and Japanese trust fund Galileo in South Brisbane, Australia.