Regions
Washington REIT and Crimson Partners Ink Apartment Development JV
Arlington, Va.–Washington Real Estate Investment Trust and Crimson Partners have formed a joint venture to develop a six-story, 150-unit mid-rise apartment complex in suburban Washington, D.C.
NAHB Records Continuing Improvement in Multifamily
NAHB’s Multifamily Production Index (MPI) recorded its third consecutive quarterly increase for the multifamily housing market.
Dominium Plans $80M Rescue of “Endangered” Minneapolis Property
Minneapolis–Dominium plans an $80 million transformation of its adaptive-reuse project in Minneapolis into a 240-unit affordable housing complex.
MARKET SNAPSHOT: ‘Everybody Wants to be in Washington, D.C.’
Washington, D.C.–The strength of the economy in the nation’s capital continues to lead to a tight apartment market.
TODAY’S DEALS: Real Capital Solutions, Family Development Purchase Gated Adult Community
Real Capital Solutions and Family Development acquire a gated adult community in Palm Desert, Calif.; Silver Capital and McCann Partners acquire a 166-unit property in Zionsville, Ind.; and Marcus & Millichap sells a 22-unit asset for $2.3 million.
New Chicago Loop Apartment Building Becomes Temp Corporate Housing
Chicago–Oakwood Worldwide, a temporary housing specialist, has obtained a master lease for a new 42-story downtown Chicago apartment building.
TODAY’S DEALS: Archstone Acquires 187-Unit Condo-Conversion for $80M
Archstone acquires a 187-unit condominium development; BPG Properties sells a 292-unit community in San Antonio; and Hendricks completes the sale of a 36-unit asset in Ohio.
Ceres Series Highlights California City’s Workforce Housing
Fontana, Calif.–This spring’s opening of Ceres Way marked the sixth affordable housing project developed by Jamboree Housing Corporation for the city of Fontana, Calif.
Novogradac Study Calls LIHTC Program a Success
San Francisco–According to a study on LIHTCs, the program has been quite successful by all applicable performance measures.
TODAY’S DEALS: Phoenix, Paredim Acquire Connecticut Community for $27.7M
Phoenix Realty Group and Paredim Partners acquire a 192-unit community in Connecticut; Harbour Realty buys a 368-unit community in Tamarac, Fla.; and GFI Realty sells mixed-use buildings in a prime Brooklyn location for $10 million.