Regions
JLL Hires MF Investment Specialists
Atlanta–Jones Lang LaSalle is expanding its multifamily investment sales with the addition of industry veterans Derrick Bloom, David Gutting, Porter Jones and Vince Lefler.
Transforming Poverty-Stricken Neighborhoods
Having recently journeyed to Washington, D.C. to meet with members of Congress and the Obama administration, IMS’ Cheryl Lang reports back on the state of federal housing programs.
Historic Property in Maine to Become Affordable Seniors Housing
Lewiston, Maine–After having been vacant for about six years, the historic 81 Ash St. in Lewiston will be converted into an affordable 32-unit multifamily residence for seniors.
Boston Green Lights 385-Unit Apartment Project
Boston–Development of The Kensington has taken a big step forward with the Boston Redevelopment Authority signing off on plans for the $172 million project.
TODAY’S DEALS: Eustis Closes Loans on Two Louisiana Apartment Communities
Eustis Commercial Mortgage Corporation closes loans on two Louisiana apartment communities; AFL-CIO provides $4.7 million of union pension capita for senior cooperative housing; and Essex Realty Group brokers $1M sale of vintage apartments in Chicago.
Economy Watch: Existing Home Sales Take a Dive
Tight credit contributes to home sales dropping; the Treasury will start selling some of the mortgage-backed securities it acquired after the 2008 crash; and the Chicago Fed’s National Activity Index registers a downtick.
Owners of SF’s Fairmont Hotel Push to Go Half-Condo
San Francisco–The joint owners of the Fairmont Hotel in San Francisco are eager to move forward with a business plan that will make the property more relevant in the current environment.
TODAY’S DEALS: Pierce Education and Partners Group Acquire Tempe Student Housing
Pierce Education and Partners Group purchases student housing in Tempe, Ariz.; Tikijian Associates sells Midwest property on behalf of Aimco; HFF secures $39.9 million in financing for an eight-property portfolio in San Francisco.
New Student Housing Breaks Ground at University of La Verne
La Verne, Calif.–Hanover Pacific L.L.C. has broken ground on a 378-bed, 103,250 square-foot mixed-use student housing property at the University of La Verne.
Griffin Court Condo Helps Drive Transformation of Hell’s Kitchen
New York–Griffin Court Condominium are helping Hell’s Kitchen become an increasingly artistic and coveted neighborhood in Manhattan.