Regions
$100M Suburban Washington, D.C. TOD on the Road to Realization
Washington, D.C.–While the national apartment market took a nosedive, the market in Silver Spring, Md., held its own, and now a new $100 million project has gotten underway to accommodate increasing demand.
DEAL OF THE DAY: HFF Completes $42M Sale of Institutional-Quality Property
North Lauderdale, Fla.–The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) closed the sale of Parrot’s Landing, a 560-unit multi-housing community in North Lauderdale, Fla.
MITS Unveils New Multifamily Data Transfer Standard
Washington, D.C.–The Multifamily Information and Transactions Standards (MITS) initiative has taken another step in its stated goal of creating shared data standards.
DEAL OF THE DAY: NorthMarq Arranges $22M Permanent Loan for Newly Constructed Community
Los Angeles–The Denver regional office of NorthMarq Capital arranged permanent financing of $22 million for The Metro Art Apartments located at 11771 Montana Avenue in the Brentwood District of West Los Angeles, Calif.
$155M Mixed-Use Residential Project to Create Job, Put Spotlight on Downtown Indianapolis
Indianapolis–Undeterred by the economic slump and intent on boosting the local employment rate, a public-private team is proceeding with the development of a $155 million mixed-use residential property in downtown Indianapolis.
MHN Interview with Henry Cisneros: We Want to Build Housing For Working-Class Americans
Henry Cisneros talks to MHN about CityView and the company’s plans to focus on multifamily housing, as well as the big challenges in providing more housing options to Americans.
INVESTMENT: Marcus & Millichap Markets Arizona Property on Behalf of Receiver
Peoria, Ariz.–Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Suntree Apartments, a 216-unit 175,152-square foot distressed asset in Peoria, Ariz., a major suburb of Phoenix.
Pending Homes Sales Up Slightly, Condos May Not Benefit
Washington, D.C.–Since the expiration of the federal home sales tax credit earlier this year, sales of all kinds of residential property have been near catatonic.
Associated Estates Kicks Off Construction of 242-Unit Vista Germantown in Nashville
Nashville, Tenn.–Vista Germantown, an apartment community that will sit in downtown Nashville, moves closer toward realization as work gets underway on the 242-unit property.
Online Apartment Finder Reports Spike in Traffic
ForRent.com and its affiliate sites (including CorporateHousing.com and SeniorOutlook.com) report a 65 percent increase in traffic during August 2010 compared with the same month in 2009, according to the company, which specializes in providing information to apartment seekers.