News
Hunt Completes Purchase of Centerline Holding Co.
Hunt Cos. has completed the previously announced acquisition of Centerline Holding Co., where through a merger, an affiliate of Hunt became the sole holder of Centerline’s common shares, which potentially makes the combined company the largest affordable housing lender.
Economy Watch: Homebuilders Still Confident; Fewer Americans on the Move; Housing Starts Report Postponed
Builder confidence in the market for newly built single-family homes was unchanged in November from a downwardly revised level of 54 in October. Americans aren’t moving as much as they once did, according to a report released by the Census Bureau. And due to the rippling impact of the federal government shutdown, official numbers on housing starts won’t be released until Nov. 26.
Twitter Chat: Michael Lagazo on the Current and Future State of Retail
Retail expert and value-add strategist Michael Lagazo, senior associate at investment sales specialist Rosano Partners, lent his expertise in the sector and experience in leadership positions at a number of leading publicly traded global and national REITs during his live Twitter chat with CPE editors in 140 characters or less per Tweet. What follows is a transcript of the exchange. CPE: Michael, how will malls fare this holiday season? Lagazo: Strong occupancy boosts regional mall REITs: https://www.snl.com/InteractiveX/Article.aspx?cdid=A-25148086-11313 . Reis reports third-quarter 2013 vacancies stand at 8.2 percent, down 10 basis points from the second quarter of 2013 and 50 basis…
Wood Partners Debuts Warner Park Luxury Community in San Fernando Valley
Wood Partners has recently opened one of its projects in the Los Angeles area, as the local residential market is about to see a steady flow of new units being added to the market. The developer is now done with its latest San Fernando Valley luxury project, an endeavor that has cost Wood Partners approximately $75 million.
St. John Properties and Somerset Construction Select Elm Street Development to Build 2,000 Homes at Baltimore Crossroads
Earlier this year, St. John Properties, Inc. and the Somerset Construction Company unveiled conceptual plans for the $100 million Greenleigh at Crossroads mixed-use development in Eastern Baltimore County, the next phase of Baltimore Crossroads. Now, the joint venture has selected Elm Street Development as the residential development partner for the project.
Northeastern University to Expand with New Research Building
The Boston Redevelopment Authority (BRA) unanimously approved a $1.6 billion master plan for development proposed by Northeastern University in which the institution describes its need for new buildings and renovation projects at the existing structures for the next decade.
Hunter’s Ridge Becomes Elm Creek Apartments After Presidium Group Acquisition
Formerly known as Hunter’s Ridge, the apartment complex at 2358 NW Military Highway, near Hardberger Park, has a new owner and a new name. Presidium Group, a Dallas-based real estate investment and management firm, added the community to its portfolio. After a re-branding process they named it Elm Creek Apartments.
125-Unit Luxury High-Rise Revived; Six Flags Back on the Market
New Orleans’ booming economy and growing population has revived a project first proposed in 2005: Traçage, a $55 million luxury project set to rise in the Warehouse District, at 711 Tchoupitoulas Street.
Pacific Northwest College of Art Secures Milestone Loan to Renovate Old Post Office
One of the largest loans ever awarded by the Portland Development Commission found its beneficiary this week when the organization approved a financing package that would help the Pacific Northwest College of Art. The loan totaling $20.3 million in financial aid will help the non-profit institution renovate an aging facility in the North Park Blocks and turn it into a new campus.
Medical Schools Planned for UNLV, UNR; MVP Closes on 5th Building in $55M Office Portfolio
As the Las Vegas market sees signs of improvement in terms of home prices and the office sector is finally showing signs of life, recent headlines were made by the University of Nevada Las Vegas. The institution is reportedly looking to create a new medical school to add to its current offering in southwest Nevada.
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