News
Greystar Buys Riverstone Residential Group
Years ago, Riverstone Residential Group wanted to buy its closest competitor, Greystar Real Estate Partners, but founder & CEO Bob Faith turned them down because he had a similar goal: build the best multi-family property management company on a national platform.
Economy Watch: U.S. Economy Adds 217,000 Jobs in May; Negative Equity Keeps Dropping; Household Net Worth Continues Rising
The economy added a net of 217,000 jobs in May. More than 300,000 U.S. homes returned to positive equity in the first quarter of 2014. U.S. household net worth increased in the first quarter of 2014 compared to the fourth quarter of 2013, and is at a new record high.
Taller Puertorriqueño to Build New HQ Facility ‘El Corazón Cultural Center’
Taller Puertorriqueño, a community-based multidisciplinary arts group that has been supporting the Latino and Puerto Rican culture in the Philadelphia region for almost four decades, is looking to expand in a new headquarters facility in the Fairhill neighborhood of eastern-north Philadelphia.
Bedrock, Riverfront Holdings Grab More Real Estate in Downtown Detroit
Riverfront Holdings Inc., a subsidiary of General Motors, grabbed four properties near the Detroit riverfront area and east of the Renaissance Center, while Dan Gilbert added two buildings and a vacant parking lot to his 8.2-square-foot real estate empire.
REITWeek Special Report: Blackstone’s Gray on Where to Find Value
Jonathan Gray, Blackstone’s global head of real estate, dispenses advice on how to find assets that will outperform in today’s real estate cycle at REITWeek in New York City.
JPMorgan Chase Grabs 58-Acre Suburban Delaware Office Campus
JPMorgan Chase & Co. has just gotten its hands on 357,500 square feet of top-notch office space in Wilmington, Del., with the acquisition of biopharmaceutical company AstraZeneca’s 58-acre South Campus.
Taylor Morrison to Build New 400-Home Community in Cypress
Houston seems to be the place for homebuilders to be, with Scottsdale, Ariz.-based Taylor Morrison expanding its residential footprint in Cypress. The developer has announced plans to build three new home collections at Alder Trails, a 155-acre community located just off Barker Cypress and south of Highway 290.
StreetLights Residential Breaks Ground on Uptown Dallas Infill; TDI, Matthews Southwest Bring Luxury Residences to South Lamar
StreetLights Residential (SLR) has commenced construction on a new high-rise development that will add 212 luxury apartment homes to Uptown Dallas.
Bozzuto Homes to Build New Condos Near U Street Corridor
Bozzuto Homes, a division of The Bozzuto Group, is getting ready to start work on its second Washington, D.C. condo development in 2014. Earlier this year, the company broke ground on 460 New York Avenue, a 63-residence high-rise condominium community in the Mount Vernon Triangle neighborhood. This summer, it will start construction on 96 condominiums at V Street NW and 15th Street NW.
SoCal Logistics Project Kicks Off Goodman’s $1.4B Development Pipeline
Through its wholly owned North American subsidiary, Australian industrial property powerhouse the Goodman Group has launched a $1.4 billion, 15 million-square-foot U.S. development pipeline by breaking ground on a $150 million logistics center in Rancho Cucamonga, Calif.