Northeast
Ground Breaks on Gleneagles II Apartments in Master Planned Southern Maryland Community
Charles County, Md.–Saint Charles, a 9,100-acre master planned community that American Community Properties Trust (ACPT) is developing in Charles County in Southern Maryland, continues to fill out.
DEAL OF THE DAY: Kislak Brokers Sale of Bank-Owned Property for $460,000 in Market Seeing Increased Demand for Smaller Properties
Hillside, N.J.–The Kislak Company Inc. announced the sale of a bank-owned mixed-use retail and multifamily property in Hillside, N.J. for $460,000. Vice President Jeffrey Squires represented both parties in the transaction.
Land Purchase and Financing Kickstart $47M Suburban Denver Apartment Project
Littleton, Colo.–In a Denver suburb named Littleton, where the limited amount of land for apartment projects is highly coveted, Wood Partners L.L.C. has taken two major steps forward in the development of the 280-unit Alta Aspen Grove.
St. Andrews Apartments in Stamford Poised to Begin
Stamford, Conn.–RiverOak Investment Corp., a private investor, and RMS Construction have formed a joint venture to begin work on the St. Andrews Apartments in downtown Stamford.
Azure Latest Example of Fairly Brisk Manhattan Luxury Condo Sales
New York–Numerous new luxury condominium properties in Manhattan are experiencing relatively healthy sales activity, and Azure is among the latest to commence the closing of its first group of contracts.
Property Tours: Cancolofts
Deborah Cleary, sales manager at Cancolofts in Jersey City, N.J. takes MHN on a tour of the property.
NYC Doormen Receive Concierge Training at the Waldorf
New York–What does it take to be a better New York City doorman?
D.C. Condo Project Nears Completion; Mostly Sold
Washington, D.C.–In a show of good sales in a condo market that isn’t seeing the strongest of times, the Harrison, a 49-unit project in the Friendship Heights area of the District, reports that it has sold 70 percent of its residences.
Construction Kicks Off on $14.5M Affordable Seniors Housing Project in Baltimore Area
Brooklyn Park, Md.–In an effort to help answer the growing call for affordable seniors housing, Enterprise Homes Inc. is commencing construction of The Greens at Hammonds Lane, a 90-unit apartment community in Brooklyn Park, Md.
DEAL OF THE DAY: Palatine Capital Generates 19.3% IRR on Sale of Boston Assets in Value-Add Play
Boston–Palatine Capital Partners has sold two Boston multifamily properties for $7,350,000. The two properties, totaling 40 units, were acquired in the winter of 2007 and were sold to a local buyer last month. The investment generated a 19.3 percent IRR to Palatine.