News
After 2012 Parade of Homes, Permit Levels Will Tell the Tale
By Alex Girda, Associate Editor Like many other cities whose housing markets took a punch during the recession, Salt Lake City is still looking for clear signs of recovery. It remains to be seen how the designs showcased at the 2012 Salt Lake Parade of Homes impressed prospective homebuyers, but the volume of new home permits […]
Henderson’s Vantage Lofts Gets $15M Restart; Ryland Homes Debuts
By Alex Girda, Associate Editor A stalled 20-acre residential development is getting new life after its acquisition by Rothwell Gornt Cos., a venture capital fund. Recently acquired out of bankruptcy, the Vantage Lofts development is set to resume construction and is slated for completion in the next six to nine months, the Las Vegas Review-Journal reported. Located at Paseo Verde Parkway and Gibson Road, Vantage Lofts (pictured at right) will require about $15 million to complete its 110-unit first phase. Company principal Richard Crighton told the Las Vegas Review-Journal the company is in the process of submitting building permit applications….
Prudential Mortgage Capital Provides $200M Loan for Refinancing of Jersey City’s Newport Tower
Prudential Mortgage Capital administered a loan to Bentall Kennedy to fund the purchase of Newport Tower in Jersey City, N.J.
MetLife Snags Bay Area Treat Towers For Reported $130M
MetLife has bought Treat Towers in the San Francisco Bay area. The property, a 10-story Class A office building, was previously owned by a joint venture with Equity Office Properties.
Manhattan’s Peter Cooper Village/Stuyvesant Town Under New Management
CompassRock is coming to the rescue of Peter Cooper Village and Stuyvesant Town and taking over the apartment complexes, effective today.
Economy Watch: Beige Book Sees Housing as Bright Spot; Pending Home Sales, 2Q GDP Rise
The Beige Book states that the American economy has been gradually growing. According to the NAR, pending home sales have risen. And the American second-quarter GDP is up.
First Potomac Sells DC Office Development JV Interest for $43.7M
First Potomac Realty Trust has sold its 95 percent interest in 1200 17th St. to a Japanese buyer acting through its American subsidiary.
HFF Sells 324-Unit Class A M-F Development in Austin
HFF closed the sale of a Class A multi-housing development in Austin’s Southwest submarket, on behalf of Nevins Adams Lewbel.
Retail Properties of America Closes on 1 MSF Cost Plus Distribution Center for $63M
Retail Properties of America sold a 1 million square-foot distribution center in Stockton, Calif., to American Realty Trust for approximately $63 million.
Economy Watch: Home Prices Rise During 2Q12; Consumer Confidence Drops; No Construction Jobs in Gotham
U.S. home prices have risen across the board. Consumer confidence dwindles in the month of August. And construction jobs in metro areas are nearly non-existent.
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