News
Epoch To Make Phoenix Debut With $50M M-F Project; Jerry Simms Pays $45M for Scottsdale Retail Center
Winter Park, Florida-based Epoch Properties Inc. plans to break ground on a $50 million multi-family project that would bring up to 292 new apartments to downtown Phoenix.
Gallery: Adaptive Reuse
Developers are infusing new energy into adaptive reuse. This slideshow depicts examples of distinctive projects from around the country.
Award-Winning Heritage Community in Wake Forest Adds 61-Lot Neighborhood
Ammons Development has opened 61 private, wooded lots at the Heritage Enclave neighborhood in Wake Forest to the public for presales. The Heritage Custom Builder team will begin construction on the new luxury community this spring.
Hines Sells Industrial, Retail Assets in Mexico to Fibra Uno REIT
International real estate firm Hines has sold a portfolio of five industrial properties and one retail center in Mexico.
Madison Int’l Acquires Interest in Downtown NYC Retail Condo for $68M
Madison International Realty shelled out $68 million on the acquisition of a non-controlling 49 percent interest in a retail condominium at 510 Sixth Ave. in Manhattan.
Meridian Arranges $80M in Financing for 11-Property M-F Portfolio in Chicago
Even though the existing loans weren’t maturing for another one to three years, the owner of an 11-property multi-family portfolio in Chicago decided to refinance now, obtaining $80 million in permanent financing with the help of Meridian Capital Group.
Economy Watch: Mortgage Delinquencies Closer to ‘Normal’ Levels; Consumer Price Slightly Up in January; Initial Unemployment Claims Down
The delinquency rate for outstanding mortgages on residential properties decreased to 6.4 percent at the end of the fourth quarter of 2013, the lowest level since the first quarter of 2008. The Consumer Price Index increased 0.1 percent in January compared with December. But during the week ending Feb. 15, initial unemployment claims decreased by 3,000 from the previous week.
KBS Buys 200 KSF Office Building in Suburban Philadelphia for $63M
KBS Capital Advisors acquired the 205,400-square-foot 1000 Continental Drive in suburban Philadelphia property from private equity real estate fund manager Equus Capital Partners for $63 million.
Three New Apartment Projects Rumored in Nashville
Nashville’s apartment boom continues with proposals and plans for new projects popping up all over the city.
SDC Nutrition Leases 60,000-Sq.-Ft. Building from RIDC in Findlay
Pittsburgh-based SDC Nutrition has recently signed a lease to occupy a 60,000-square-foot building at the RIDC Park West Industrial Park in Findlay Township. The Regional Industrial Development Corporation of Southwestern PA is building out the space, which should be ready for occupancy this summer.