Regions
MARKET SNAPSHOT: Employment Growth in Austin Outpaces Both State and Nation, Leading to Voluminous Rent Increases
Employers in the Austin metro area increased head counts by 3.3 percent over the last 12 months, with local business alone expanding their workforce by 2.6 percent—or 20,400 employees.
Economy Watch: Housing Starts Spike in September
The Census Bureau reported on Wednesday that housing starts jumped in September to an annualized rate of 872,000 units. That’s 15 percent more than the revised August estimate of 758,000, and a whopping 34.8 percent above the September 2011 rate.
Sentinel Real Estate Buys Northern Delaware Apartments
The Apartments at Pike Creek, a 264-unit garden-style complex on 19 acres in Newark, Del., has changed hands for an undisclosed price.
TODAY’S DEALS: HCP to Buy 133 Senior Communities for $1.73B
HCP to buy $1.73 billion in seniors housing; PRG buys a 216-unit asset in Durham; and Boston Capital invests in two affordable seniors rehabilitation projects.
Cathedral Commons a ‘Giant’ Undertaking in Northwest D.C.
Developed by The Bozzuto Group and centered around a state-of-the-art Giant Food supermarket, a new mixed-use community will feature 137 apartments, eight town homes, 128,000 square feet of retail and more than 500 parking spaces.
Economy Watch: Homebuilders a Bit More Perky
The National Association of Home Builders reported on Tuesday that its housing market index edged up by one point in October to 41, meaning that the industry is more optimistic than at any time since June 2006, when the index was headed the other way in the face of the gathering storm in homebuilding.
TownCentre in Brentwood Changes Hands for $19M
Ridge Capital Investors LLC has acquired TownCentre Commons Apartments, a 137-unit apartment property in Brentwood for about $19.6 million.
TODAY’S DEALS: EdR Completes a $67M Acquisition in Arizona
EdR buys an Arizona asset; Waterton Associates completes its sixth Denver purchase in 2012; and NorthMarq Capital arranges a $22.65 million mortgage.
North American Properties Begins Construction on a $35M Multifamily Development
North American Properties has begun construction on BOHO, a 260-unit luxury multifamily residential project in Atlanta’s Historic Fourth Ward, which illustrates the company’s focus on building communities in walkable, urban neighborhoods.
Economy Watch: Retail Sales Advance in September
The Census Bureau reported on Monday that U.S. retail sales for September were up 1.1 percent compared with August, and up 5.4 percent compared with September 2011.