News
Economy Watch: More Purchase Mortgages Than Refi, First Time in Years; Consumer Credit Sees March Uptick; Yellen Optimistic About ’14
There were more mortgages applications for home purchases than refinance last week for the first time in five years. Consumer borrowing also picked up in March by the largest amount in a year. Federal Reserve Chair Janet Yellen struck an optimistic note about the U.S. economy, though she noted a bit of concern about the housing market.
White Oak Buys 300-Unit M-F Community; Memorial City Mall Adds Seven New Retailers
Columbus, Ohio – based White Oak Partners, LLC has acquired Colorado Club Apartments, a 300-unit multifamily community in East Houston. HFF marketed the property on behalf of the seller, Capital Equity Group of Cleveland, Ohio.
HRI Properties Acquires Former LTV Tower; Statler Hilton Redevelopment Gets $43.5M Boost
The strategic revitalization of Downtown Dallas continues with two new redevelopment projects ready for takeoff.
New Orleans-based HRI Properties has acquired 1600 Pacific, a 32-story tower in downtown Dallas
Marriott Opens $520M Marriott Marquis Washington, DC
Marriott Hotels has recently reached an important milestone. On May 1, the company announced the opening of its 4,000th hotel, the Marriott Marquis Washington, DC. The hotel’s inaugural catered event will be held on May 10, while its formal dedication and grand opening will be held a month later, on June 10.
Grubb Properties Moves Ahead with Plans for $35.5M Link-Branded Apartment Project
The Triangle’s first Link-branded apartment community will soon rise in the vibrant Glenwood South district of downtown Raleigh.
The Ensign Group Acquires 230-Bed Skilled Nursing, Rehabilitation Center
Formerly known as Kindred Transitional Care Northwest, Casas Adobes Post-Acute Rehabilitation Center has a new owner, a recent trade publication reports. The Ensign Group acquired the 230-bed skilled nursing facility located at the corner of Orange Grove and Corona roads, adjacent to Northwest Hospital Medical Plaza in Tucson.
Former Beach Waterpark Site Listed for Sale for $12.5M; Uptown Square Venture Closed on $3.6M Refinance for Mixed-Use Property
For 18 years the Beach Waterpark has been a staple of the summer for Albuquerque’s children. Unfortunately, it was shut down in 2005 after it received an “unsatisfactory” rating from the Environmental Health Department; a year later everything on site was auctioned off and ever since the land remained empty.
Community HousingWorks, Sun Country Builders Start Affordable Housing Project in Vista
The recent wave of new affordable housing communities developed in the state of California has now also hit San Diego. Not-for-profit development entity Community HousingWorks has teamed up with Vista-based Sun Country Builders on the North Santa Fe Apartments project, with the latter company having already begun work has begun at the site.
Tower Two at One Rincon Hill Kicks Off Leasing for Upscale Residential Units
One of San Francisco’s most high-profile residential projects recently announced that the leasing process for units has commenced. Tower Two at One Rincon Hill, an iconic luxury tower, now has homes ready for lease, with unit occupancy slated to begin this August. According to the official statement announcing the move, private tour appointments are now available via online registration and by calling the development’s Welcome Center.
Luxury Boutique Hotel Announces Opening in Chicago’s Andersonville Neighborhood
The Andersonville Guesthouse is set to expand and upon reopening, in the summer of 2014, will be rebranded into The Guesthouse Hotel.