News
Carroll Org. Buys Four M-F Assets for $103M
Carroll Organization continues its shopping spree across the Southeast with the recent acquisition of four apartment communities for $103 million.
Canadian Office Tower Recognized as One of World’s Most Dazzling Buildings
“The Bow” Tower in Calgary has made the Emporis list of the most spectacular 15 corporate buildings in the world.
FHFA: Fannie, Freddie M-F Businesses Not Independently Viable
Without their government guarantees, “the multi-family businesses of Fannie Mae and Freddie Mac have little inherent value,” according to the Federal Housing Finance Agency, which released two reports, one from each of the government-sponsored enterprises.
Economy Watch: Banks Ease Lending Terms; Mortgage Delinquencies Dip; Three CRE Firms Make Fortune 500
Banks reported easing their lending standards – especially for businesses – and experienced strong demand for loans. And 6.59 percent of residential mortgages were delinquent in March, down from 6.8 percent in February. Also, three commercial real estate companies made Fortune magazine’s top 500 companies this year.
New Vista at Lost Lake Units to Add to Growing Local Multifamily Inventory
McCann Realty Partners, the company that bought the Vista at Lost Lake apartments in Clermont last year for $28 million, is now moving forward with the project by starting construction on a second phase.
Class A Office Building Breaks Ground in Somerville; Private Investors to Open Alcohol Distillery in Hingham
Rockville, MD-headquartered Federal Investment Realty Trust is one building away from completing the first phase of Assembly Row, a $1.6 billion redevelopment effort in Somerville that aims to create a new, 45-acre neighborhood.
Trophy AT&T Office Campus in Midtown Atlanta Trades for $225M
A partnership between private real estate investment sponsor Macfarlan Capital Partners and an entity associated with Cole Real Estate Investments has recently paid $225 million for a Class A trophy office campus leased to AT&T located in Midtown Atlanta.
Economy Watch: Jobs Report Mostly Positive, Wall Street Reacts; Rumbles of Discord over Eurozone Austerity
A net of 165,000 new jobs were created in April, an announcement that was well received on Friday, especially by investors. The European Commission gave France two more years to meet its budget deficit target, which the country has been unable to do because of slow economic growth since the return of recessionary times to the eurozone.
Gaia Pays $55M for 2 East Providence M-F Complexes
Gaia Real Estate has purchased the Winchester Park and Winchester Wood multifamily communities in East Providence for $55 million or $115,000 per unit. The sale also included 20 acres of undeveloped land, the Providence Business News reports. CB Richard Ellis New England Partners represented the buyer in the transaction and also procured financing.
CBRE Hotels Sells Hampton Inn, Courtyard in Florida
There’s been no lack of activity in the metropolitan Jacksonville hotel market this year, and the Hampton Inn & Suites Ponte Vedra and the Courtyard by Marriott Flagler Center are among the latest properties to change hands.