Northeast
DEAL OF THE DAY: Chozick Realty Brokers Sale of Property for $7.05M
Bloomfield, Conn.- Rick Chozick and Ryan Perkoski of Hartford based Chozick Realty Inc. arranged the sale of Wedgewood Apartments, located in Bloomfield, Conn. for $7,050,000.
Opportunistic Buyer Seeks Second-Tier Multifamily
New York–The feeding frenzy is on for trophy multifamily properties in top-tier markets.
With Money In Hand Education Realty Trust Starts $35M Student Housing Project in Pennsylvania
Mansfield, Pa.–Financing for the development of a new student housing project at Mansfield University in Mansfield, Penn., has just closed and, with, funds in place for the $35 million endeavor, developer Education Realty Trust Inc. has commenced construction.
Apartment Market Weathered ’09 Reasonably Well: IREM
Chicago–Though the apartment industry has seen better years, 2009 wasn’t a terrible one in a number of ways for the industry, according to a new benchmarking study published by the Institute of Real Estate Management (IREM).
Apartment Property in Hoboken Gets LEED Gold Certification, A First for its Developer
Hoboken, N.J.–Berkshire at the Shipyard, a new 93-unit apartment building in Hoboken, N.J., has just achieved LEED Gold certification from the U.S. Green Building Council.
Multifamily Starts Up From Last Year, But Still Sluggish
Washington, D.C.–Housing starts edged upward unexpectedly in September.
Condos Lead NYC Residential Rebound
New York–New York’s residential sales market, led by condos and cooperative apartments, continued its rebound during the third quarter of 2010.
DEAL OF THE DAY: HFF brokers $70.1M Sale of Washington, D.C. Property to Home Properties
Fairfax, Va.–The Washington, D.C. office of HFF (Holliday Fenoglio Fowler L.P.) closed the sale of The Courts at Fair Oaks, a 364-unit, luxury multi-housing community in Fairfax, Va., known prior to the sale as The Point at Fairfax.
Lenders Still Lending for Apartments, But at Much Lower Volume
Washington, D.C.–The Mortgage Bankers Association reports that aggregate lending for financing apartment properties nationwide shrank about 40 percent in 2009 compared with 2008.
Web Feature: Best Ways to Close Leases
New York–A signed lease is a thing to be treasured. For property managers and owners, it is the fruit of a laborious and long development and marketing process.