Regions
MARKET SNAPSHOT: Rents at Record Highs Prior to New Wave of Construction in Minneapolis
As many continue to have reservations about entering the single-family market, apartment demand has boomed in the Minneapolis/St. Paul metro area, with the overall Q3 2012 vacancy rate coming in at 2.4 percent.
Russian Residential Developer Has a Full Plate
An experienced Moscow-based residential development firm, PIK Group, has recently launched sales for a new centrally located project.
Economy Watch: Fed Holds Off on Stimulus for Now
Will the Fed try to stimulate the economy more or not? Is QE3 in the immediate future? The answer to those questions at the end of the latest meeting of the Federal Open Market Committee on Wednesday was “not yet.”
Dallas Investor Buys Suburban Fort Worth Apartments
Hayman Woods LLC has completed, though a subsidiary, its acquisition of Bellagio at Beach Street, a 398-unit multifamily property in Haltom City, Texas.
TODAY'S DEALS: Morgan Properties Grabs 558-Unit Asset
Morgan Properties buys a property for $27.4 million; Beech Street Closes a $10.5 million Fannie Mae conventional loan; and NorthMarq arranges $21.3 million in interest-only, six-year loans through a life insurance company.
Sunny Forecast for Housing Market
Housing figures released by Florida Realtors reveal a nice climate for Sunshine State housing.
Economy Watch: Case-Shiller Sees Another Monthly Uptick
The S&P/Case-Shiller monthly Home Price Indices for May (three-month averages of March, April and May), which were released on Tuesday, showed month-over-month increases for both the 10- and 20-city composites. In fact, both were up 2.2 percent.
Success of New Community Attributed to Appealing to Families
Resmark Apartment Living, a division of The Resmark Companies, announced it is 52 percent leased on the first 80 units at Union Place since opening in mid-March.
TODAY’S DEALS: Security Properties Buys Portland Asset
Security Properties makes a value-add play; HFF lands construction financing and joint venture equity for a Virginia mixed-use development; and Advenir acquires an apartment property in an upscale submarket of Orlando, Fla. for $27.1 million.
AFL-CIO Housing Investment Trust Gives $41 Million for New St. Paul Mixed-Use Development
The AFL-CIO Housing Investment Trust has committed $41 million of union pension capital to help finance the Penfield, a $62 million mixed-use development in downtown St. Paul.