Regions
TODAY’S DEALS: Stalled Chicago Tower Restarts with U.S. Bank Loan
Related starts a Chicago tower thanks to financing from U.S. Bank; Stoneleigh Companies and Arris Investments land construction financing for a 298-unit asset in Denver; and NorthMarq arranges a $20 million loan for a market-rate Las Vegas community.
SPECIAL REPORT: The New Apartment Development Cycle Targets Generation Y
The new apartment development cycle focuses on the needs and wants of a huge demographic that is now entering prime renter age–Generation Y, said Rohit Anand, KTGY Principal, during MHN’s Excellence Awards ceremony held in New York.
Sale of Bradenton Luxury Rental Community Completed
Lost Creek Resort at Lakewood Ranch, a newly built luxury apartment community in the coastal Florida city Bradenton, has been sold.
KKR and Partners Buy Sunrise Management Business
In the wake of HealthCare REIT’s announced acquisition of Sunrise Senior Living Inc., a partnership led by Kohlberg Kravis Roberts & Co. LP is buying Sunrise’s management company business for about $130 million.
TODAY’S DEALS: Brookfield and Fairfield Close $323M Fund
Brookfield Asset Management and Fairfield Residential close a $323 million value add fund; Beech Street provides a $21.7 million acquisition loan; and Berkadia arranges interim and permanent financing for properties in Brooklyn, N.Y.
Four Seasons to Celebrate Opening of Flagship Hotel in Toronto
On October 5, Four Seasons Hotels and Resorts will celebrate a homecoming of sorts with the opening of a landmark 259-room hotel in Toronto, the multicultural metropolis where the company was founded more than 50 years ago.
Luxurious Jazz Lounge Opens in Qatar’s First St. Regis Hotel
The St. Regis Hotel & Resorts has announced October 4th as the official opening date of Jazz at Lincoln Center Doha, a luxurious jazz lounge in Qatar’s first-ever St. Regis hotel.
American Realty Capital New York Recovery REIT Acquires Brooklyn Condo
American Realty Capital New York Recovery REIT Inc. recently purchased The 163 Washington Condominiums, consisting of 50 rental units and a 36-space parking facility in Brooklyn, N.Y., for $31.5 million.
Economy Watch: U.S. Economy Dragging, Texas Shows Some Pep
Two different branches of the Federal Reserve issued economic reports on Monday, one not particularly sanguine about the U.S. economy, the other more hopeful about a region whose relatively strong economy has gotten some attention lately.
Louisville Apartment Property Trades for $22.5M
The Chicago-based Infinity Group has sold Vieux Carre Apartments, a 326-unit complex in Louisville, for $22.5 million.