News
JPMorgan Sells Luxury M-F Asset in Ahwatukee for $61M
By Camelia Bulea, Associate Editor Chicago-based Waterton Associates L.L.C. paid $61.3 million to acquire Andante Apartments, a 576-unit luxury apartment community in Ahwatukee. The price is the second-highest commanded by a multi-family asset in metropolitan Phoenix this year, bested only by the $68.8 million paid for the San Melia Apartments about a half-mile north of Andante, […]
Calkain Cos. Opens St. Louis Office to Capture Midwest Market
Calkain Cos. has opened an office in St. Louis, viewing the Midwest as a largely underserved market. The company has tapped broker Teal Henderson from its Tampa office to run the new location.
Harbor Group Spends $131M on Four-Property Multi-Family Portfolio in Nashville
Harbor Group International added a four-property portfolio in Nashville to its multi-family collection. The latest purchase is not the end for HGI, which vows to continue pursuing apartment portfolio buys.
CBRE Group Handles Two Retail Transactions in Austin
By Camelia Bulea, Associate Editor
Two shopping centers in the Austin area totaling 91,500 square feet have recently changed hands. RPS Partnership recently sold the 69,000-square-foot Baron’s Creek shopping center in Fredericksburg for an undisclosed price. The shopping center includes tenants […]
Economy Watch: Mortgage Delinquencies, Over-55 Building Up; Unemployment Down
National mortgage delinquencies went up slightly in the second quarter, as did builder confidence for the 55+ housing market, which is predicted to grow significantly in years to come. Unemployment, on the other hand, saw a decrease this quarter.
Seniors Housing Portfolio Attracts $70M Loan from Prudential Mortgage Capital
Prudential Mortgage Capital Co. has footed $70M for a joint venture by two seniors housing communities to build a five-property portfolio, seeing increasing demand for senior housing as an opportune time to invest in such projects.
Canadian Investor Develops Brazilian Shopping Center; Expands Existing Local Asset
Ivanhoe Capital has invested in another Brazilian shopping center, developing in the higest-rated suburban area of Sao Paolo, in addition to expanding another shopping center currently underway.
Alchemy Buys Condo Stake in Manhattan's Woolworth Building
Alchemy Properties Inc. purchased part of the Woolworth Building for $68 million. It intends to convert the vacant space into residential condominiums.
Cousins Picks Up Downtown Dallas Tower at Foreclosure Sale
Cousins Properties Inc. purchased the former San Jacinto Tower in downtown Dallas. Like several other properties in the area, the office tower had been foreclosed on in the past 12 months.
Economy Watch: Recovering Housing Market Buoys Fannie Mae, Vegas Home Prices Up, Boston Fed Sounds Off
Fannie Mae reported increased income, crediting home prices, improved sales prices on REO properties and a decline in the single-family delinquency rate. Las Vegas is one surprising market where home prices are increasing. And the Boston Fed head offered some insights into his plans.