Regions
Southern California on Its Way Back to Health
SoCal may not return to true health until 2013-2014, but institutional buyers are bidding for quality properties.
Ground Broken for Yonkers Workforce Housing
Yonkers, N.Y.–The Yonkers Industrial Development Agency, L+M Development Partners Inc. and the Greyston Foundation have broken ground on 49 North Broadway, an affordable multifamily housing development.
American Campus Communities and ISU Partner on $59.6M Student Apartment Project
Normal, Ill.–American Campus Communities Inc. and Illinois State University will break ground on Cardinal Court, an 896-bed student-housing community.
TODAY’S DEALS: Marcus & Millichap Brokers Sale of Apartments in North Hollywood
Marcus & Millichap brokers sale of the Morrison Apartments in North Hollywood, and Bay Apartment Advisors oversees an apartment sale in Oakland, Calif. for $134K per unit.
TODAY’S DEALS: CBRE Capital Markets Arranges $70M for Multifamily in Fla.
CBRE Capital Markets arranges $70 million for multifamily financing in Florida; Blizin Sumberg Baena negotiates $30M mortgage for former Miami condos; and ARA New England brokers the sale of a 4.1 acre development site in Massachusetts.
Red Fort Capital Invests in Delhi-NCR Residential Market
Port Louis, Mauritius–Red Fort Capital has recently closed two residential transactions in the Delhi-NCR region of India on behalf of Red Fort Fund II, the investment manager’s second fund.
NAA to Induct Shelton into Hall of Fame
Arlington, Va.–Dallas apartment industry executive Ron Shelton, CAPS, senior vice president at Amalgamated Management Corporation in Dallas, will be inducted into the National Apartment Association Hall of Fame on June 23.
L.A. Greenlights Wilshire Blvd. Multifamily Development
Los Angeles–The Los Angeles City Council approved plans this week for The Vermont, a 464-unit apartment complex with ground-floor retail and a public park.
TODAY’S DEALS: Panther Properties Acquires 300-Unit Property near Atlanta
Panther Properties acquires a 300-unit property in Georgia; Behringer Harvard purchases two student housing communities near the University of Georgia; and Alliance Residential picks up an REO asset in Las Vegas.
CetraRuddy Wins Residential Architect Magazine Award for One Madison Park
New York–CetraRuddy was recently honored with a Multi-Family Grand Award for its design of One Madison Park, a 50-story high-rise sheathed in clear and white glass.