Regions
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.
NAREIT Explores 2012 Multifamily REITs
According to a recent report from the National Association of Real Estate Investment Trusts, the U.S. REIT market as a whole underperformed in the third quarter of 2012, but outpaced the broader market in the first nine months of the year.
TODAY’S DEALS: Sacramento Assets Trade for $58.8M
ARA completes two Sacramento transactions; Aimco closes a $190.7 million loan to finance a major Venice, Calif., redevelopment initiative; and Meridian Capital negotiates $34.8 million in financing for fractured condos, multifamily and cooperative properties.
Sunroad Begins Two San Diego Apartment Communities
Sunroad Enterprises has broken ground on two new apartment buildings in San Diego, the Sunroad Centrum Apartment Buildings at Lightwave Avenue and Spectrum Center Boulevard.
Lancaster, Calif., Portfolio Acquired by MG Properties Group
A four-property, 1,190-unit Lancaster, Calif., apartment portfolio has been acquired by San Diego-based MG Properties Group (MGPG) for a sale price of $91.75 million, with MGPG representing itself in the transaction.