Regions
Economy Watch: Household Worth Drops Slightly in 2Q
The Federal Reserve said in its second quarter 2012 Flow of Funds report on Thursday that U.S. household net worth was $62.7 trillion in 2Q12, a slight decline compared with the first quarter.
TODAY’S DEALS: IPA, Rockefeller Group to Develop Arizona Apartments
A JV begins a $57.5 million asset in Arizona; ARA brokers the sale of a community in Golden, Co.; and HFF closes the sale of an iconic six-property Chicagoland portfolio.
Report Advocates More Supportive Housing in NYC
A newly released report, “Building Futures: Creating More Family Supportive Housing in New York City,” details how New York City and the State of New York can bolster their commitments to housing for chronically homeless families.
Sheraton Macao Hotel, Cotai Central, Opens, Becomes Year’s Biggest Hotel to Launch
tarwood Hotels & Resorts Worldwide, Inc. has announced the opening of he first phase of the Sheraton Macao Hotel, Cotai Central, the largest hotel in Starwood’s global portfolio, as well as the largest hotel in Macao.
Marcus & Millichap Facilitates Sale of Two Texas-Based Living Facilities
Marcus & Millichap Real Estate Investment Services arranged the sale of two independent living facilities in Texas to Washington, D.C.-based Capitol Seniors Housing on behalf of the seller, Franklin Development Co.
MARKET SNAPSHOT: Abandoned Projects See New Life as Vacancy in Philadelphia Trends Downward
The City of Brotherly Love has seen a substantial recovery in both jobs and occupancy over the last few quarters, with the second half of 2012 expected to be a climax for this trend.
Economy Watch: Residential Starts Up
In another sign that the housing market is getting some traction, U.S. housing starts were up in August to an annualized rate of 750,000 units, according to the Census Bureau.
Ground Broken for Upmarket Apartments in OC
Newport Beach-based Lyon Communities has broken ground on the Marke @ South Coast Metro, a 300-unit property in Santa Ana. The property will be aimed at an upmarket, renter-by-choice demographic.
TODAY’S DEALS: Fairfield Residential Buys 408-Unit Asset
Fairfield Residential buys a Tempe, Ariz. asset; Behringer Harvard invests in TDI’s Allen, Texas, development; and NorthMarq Capital arranges a $36.3 million Freddie Mac mortgage for student housing.
Maryland Rental Property Sells for $90.25 Million
Hamptons at Town Center, a Germantown, Md., apartment community, has been sold by affiliates of Harbor Group International LLC, to Montgomery County for $90.25 million.