Regions
TODAY’S DEALS: The Donaldson Group Acquires 492-Unit Asset
The Donaldson Group and Angelo, Gordon & Company acquire a 492-unit property in Suitland, Md.; Essex Realty Group sells a portfolio consisting of six Chicago properties; and Deutsche Bank Berkshire Mortgage provides $31.3M in interest-only, Fannie Mae financing.
Apartments to Rise on Site of Failed San Diego Condo Development
San Diego–Alliance Residential Co. has acquired a 1.3-acre development site in the Little Italy district of downtown San Diego and is planning 201 apartment units for it.
Suburban Boston Apartment Project to Take Its Cue from Rehabilitated 19th Century Building
Melrose, Mass.–In a $52.5 million endeavor, Wood Partners plans to mix some of the old with a bit of the new to create Alta Stone Place, a multi-structure apartment community in Melrose, Mass.
U.S. Will Not See 3% GDP Growth Until 2014
U.S. GDP growth is not expected to hit 3 percent until 2014. That analysis comes from the international real estate group Grosvenor.
TODAY’S DEALS: Trillium Residential Sells 724-Unit Property for $76M
Trillium Residential sells a 724-unit community for $76 million; Lynd purchases an $80 million portfolio of distressed student housing; and Hendricks & Partners oversees a $16,000 per-unit sale.
Jones Lang LaSalle Announces Merger with King Sturge
Jones Lang LaSalle will merge with international property consultancy King Sturge, with the two firms combining European operations.
Ripple Effects of the Joplin Tornado on Surrounding Communities
Yarco Company’s Robert Schock shares with MHN some of the indirect human costs that are taking shape as people start to pick up the pieces shredded by the recent storms.
Joint Venture Plans Metro Charleston Multifamily
Mount Pleasant, S.C.–CNL Macquarie Global Growth Trust Inc. and Woodfield Investments have entered into a joint venture to build a 258-unit multifamily development in Mount Pleasant, S.C.
N.J. Multifamily Project Repositioned from For-Sale to Rental
Elizabeth, N.J.–Waters Edge Crescent of Elizabethport has made the transition from an uncompleted for-sale townhouse project to finished affordable rental apartments.
U.S. Economy Gains Momentum: Grosvenor Research
In its second-quarter North American Research Report, Grosvenor reports that the U.S. economy is gaining momentum.