Regions
Economy Watch: Consumers Hide Their Plastic in August
Consumers deleveraged their credit card accounts somewhat in August, which is perhaps indicating pervasive nervousness about the direction of the economy.
Wood Partners to Begin Construction on New Apartment Building
By Alex Girda, Associate Editor Nationwide multifamily developer Wood Partners announced construction on its latest Seattle-area apartment building is set to begin. The company will develop a 27-story residential complex at 225 Cedar St. in Belltown. The dining- and entertainment-heavy district is a suitable venue for the multifamily project, which aims to attract workers in […]
Freddie Mac Offers 11th Batch of K Certificates This Year
Freddie Mac has made a new offering of Structured Pass-Through Certificates (also known as “K Certificates”), which are expected to settle on Sept. 25. The K Certificate offering, which is composed of multifamily mortgage-backed securities, will total about $1.1 billion.
TODAY’S DEALS: IPA Brokers Largest San Antonio Sale of Year
IPA sells a 484-unit asset; SBV Communities completes its second purchase in a week; and Alliant Capital completes a $3.1 miilion refinance for a Los Angeles apartment property.
Crescent Resources to Develop $68 Million Community in Tampa, Fla.
Crescent Resources, a Charlotte, N.C.-based real estate development company, announced that it is starting work on a $68 million community in Tampa, Fla.
Tianjin Eco-city to Emerge as a Blueprint for China’s Future Urbanization Efforts
Companies and residents have started moving into the Sino-Singapore Tianjin Eco-city, a joint Chinese-Singaporean project located 150 km southeast of Beijing.
Taubman TBCL’s First Foray Into the Chinese Market
Taubman TCBL and Beijing Wangfujing Department Store Co. Ltd are teaming up for a joint venture that will own a majority stake and manage an upcoming retail development in Xi’an, China.
Mill Creek Residential Buys Texas Rental Communities
Mill Creek Residential Trust has acquired a trio of apartment communities in Houston and Austin. The three communities, all located in urban infill locations, comprise a total of 589 apartment homes.
Economy Watch: Employment Gains Disappointingly Meager
Employment growth nationwide in August was as anemic as the corn crop in the Midwest, with a net addition of only 96,000 jobs, well below the monthly average thus far this year of 139,000 per month, and not enough in the long run (or even mid-term) to keep up with population growth.
Vitus Group to Renovate Two N.J. Affordable Housing Communities
Vitus Group recently announced its plans for the renovation and rehabilitation of the Vita Gardens and Stephen Manor communities. This project will preserve 170 units of affordable housing.