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Marcus & Millichap: Rental Market to Hit New Levels in 2012
The reports on multi-family’s continued surge keep coming in, and the latest comes from Marcus & Millichap: While 2011 was a great year for the apartment sector, that momentum will likely continue in 2012 — contingent on the health of the larger economy.
Economy Watch: Existing Home Sales See December Rise
Existing home sales rose 5 percent month-over-month in December, according to the NAR. The Economic Cycle Research Institute raised its index to the highest level since August. And investors will have to be persuaded to take a haircut for Greece’s bailout to move forward.
American Campus Communities Takes $208M in Student Housing
American Campus Communities Inc. has just expanded its portfolio by nearly 2,000 beds with the acquisition of 26 West Apartments in Austin and the purchase of a controlling stake in The Varsity in College Park, Md., for a total of $208 million.
Exclusive: Industrial Back to Pre-Recession Levels, According to Cushman
New leases for industrial properties “returned to levels not seen since prior to the 2008/9 recession,” according to a new fourth-quarter 2011 report by Cushman & Wakefield Inc.
Vestar to Manage 1.1 MSF Phoenix Mall
Coventry Real Estate Partners has tapped Vestar to manage Christown Spectrum Mall, a 1.1 million-square-foot, super-regional retail destination in Phoenix.
Economy Watch: Unemployment Claims Dive
The Department of Labor reported that the economy created 1.6 million jobs during 2011, but the National Association of Home Builders found that new-home starts were down in December. The CPI in the last month of the year was uneven — up in some sectors, down in others.
Griffin-American REIT II Makes $174M, 11-Property Pickup
Continuing in its quest for “stabilized assets that show cash flow above and beyond rent,” according to president & COO Danny Prosky, the newly minted Griffin-American Healthcare REIT II has made an 11-property pickup for $174 million.
Record-Breaking Historic Redevelopment Moves Forward in Massachusetts
The town of Quincy, Mass., has taken the next step in its future plans. A partnership with the city’s Street-Works Development and The Beal Cos. has committed to drive forward a $1.6 billion redevelopment of Quincy’s Downtown.
CBRE: Manhattan Office Market's Rebound Continues
According to a briefing by CBRE Group, the office sector’s recovery continues to be hit-and-miss around the country, but in the nation’s largest city, 2011 marked another year of steady improvement.
Economy Watch: Homebuilders Perk Up, PPI Remains Stagnant
According to a new survey, homebuilders are starting to feel more optimistic. The Producer Price Index wasn’t expected to move much in December, and it didn’t. And the Greek government is trying to come to terms with bondholders on interest rates.