Regions
Skyline Equities Realty Sells Development Rights for Miami Condominium Community
Skyline Equities Realities has recently completed a deal to sell its luxury community SkyPalace, located in Miami, within Mary Brickell Village. Lynd Development and LNR Property will be the new developers of this property. Blackrock Realty Advisors will serve as the equity source.
Boston Capital Invests in Three Oklahoma Affordable Multifamily Developments
Boston Capital is investing in the construction of three affordable multifamily developments in Oklahoma totaling 105 units that will be built with tax credit equity from the Low Income Housing Tax Credit program.
New Residential Condo Development Breaks Ground in Flourishing Luxury Real Estate Market
An affiliate of Ledcor Properties Inc., 26th Avenue River Investments Inc., has broken ground on a new luxury residential condo development in Calgary, Canada.
MARKET SNAPSHOT: St. Louis Market Gradually Improves, With Employment Poised to Make a Comeback
As employment begins to rebound and new construction remains minimal, rents in St. Louis are expected to climb 2.3 percent before the end of the year.
Economy Watch: Investors Wait on Word From ECB
Last week, investors seemed to pause while they were waiting for Fed chairman Ben Bernanke to speak some magical words. This week, the markets seem to be stuck in neutral waiting for ECB president Mario Draghi to outline his central bank’s plan to “save the euro,” to put it in (overly) dramatic terms.
Investor Buys Austin Apartment Property
Falcon Southwest has purchased the 324-unit Deerfield Apartments from Nevins Adams Lewbel Schell. The property is located close to Mopac Expressway about 10 miles southwest of downtown Austin, Texas.
Waterton Associates Acquires Arizona’s Andante Apartments
Chicago-based multifamily company Waterton Associates has acquired Andante Apartments, a 576-unit community in the upscale Ahwatukee Foothills area south of Phoenix.
TODAY'S DEALS: Bascom Arizona Ventures Grabs a Class-A Asset
Bascom completes a $27.2 million purchase; Steadfast Income REIT acquires a property in Louisville; and HFF closes the sale of a 240-unit community in Dallas.
Economy Watch: Homes See Significant Annual Increase in July
CoreLogic reported on Tuesday that home prices nationwide, including distressed sales, increased by 3.8 percent in July 2012 compared to July 2011.
Apartment Rents, Occupancies Still Rising
According to Axiometrics, national effective rents for the U.S. apartment market increased 0.54 percent from June to July, bringing year-to-date effective rent growth up to 4.42 percent.