REBusinessOnline

RED Capital: Florida 2018 Multifamily Performance Shines, Despite Rising Supply

[caption id="attachment_215024" align="alignright" width="100"] Daniel HoganDirector of Research,RED Capital Group[/caption] Florida markets typically perform well during flush economic times and the current cycle isn’t an exception. Blessed with the fastest growing population east of the Rockies and a business-friendly tax and operating cost environment, Florida is one of the first alternatives multifamily developers and investors look to when the primary markets begin to feel …

RED Capital: Mid-Atlantic Region 2018 Multifamily Performance Update

[caption id="attachment_215024" align="alignright" width="100"] Daniel HoganDirector of Research,RED Capital Group[/caption] As the real estate cycle enters the late innings, multifamily investors increasingly are seeking alternatives to high-cost coastal metros but remain unwilling to sacrifice the property market liquidity found in the primary markets. Many are finding the right balance of opportunity and liquidity in the Mid-Atlantic States, where cap rates are often higher than in the …

InterFace Brokerage Panel: Phoenix Industrial ‘Moving Up the Food Chain’

The InterFace Phoenix Industrial conference and networking event was held on Wednesday, Sept. 12, featuring three panel discussions. The brokerage panel, moderated by Rob Martensen, executive vice president with Colliers International, featured a lively discussion about activity in local submarkets and a recap of the reasons Phoenix is winning deals over Southern California and Nevada. Industrial Activity in Arizona [caption id="attachment_212830" align="alignright" width="100"] Anthony …

InterFace Multifamily Texas to be Held September 26th in Dallas

Texas Real Estate Business magazine and InterFace Conference Group will host the 7th annual InterFace Multifamily Texas conference in Dallas on September 26. The conference will focus on both the supply/demand balance as well as on who is buying, building and financing apartment properties in Dallas, Houston, San Antonio and Austin, as well as trends in leasing, management and operations. The event also looks at macro economic and demographic trends influencing and impacting the …

InterFace Healthcare Real Estate to be Held September 27th in Dallas

The InterFace Conference Group will host the 10th annual InterFace Healthcare Real Estate conference, a national informational and networking event for everyone involved in healthcare and medical office real estate, including hospitals and healthcare systems; owners/investors/developers; lenders and financial intermediaries; leasing, management and operations specialists; and others allied to the industry. This one-day conference, which attracts executives from across the country, will take …

Jefferson Avenue Apartments Underway in Buffalo, New York

BUFFALO, N.Y. — Sinatra & Company Real Estate and People Inc. have broken ground on Jefferson Avenue Apartments, a $24 million, two-building project in Buffalo’s Masten District. The project will include 84 mixed-income units, with 16 units to be reserved for people who have developmental disabilities but live independently. The apartment buildings will feature one- and two-bedroom units, a community room with a small kitchen, on-site laundry facilities, green space and off-street parking. …

NYC Department of Investigation Signs 276,000 SF Lease at 180 Maiden Lane

NEW YORK CITY — Meyer Last and Ross Wasserman of Fried Frank acted as counsel to Downtown NYC Owner LLC, a joint venture of MHP Real Estate Services and Clarion Partners, in connection with a nine-floor, 276,000-square-foot lease to New York City’s Department of Citywide Administrative Services at 180 Maiden Lane, a 1.2-million-square-foot Class A building in Lower Manhattan. The city’s Department of Investigation will consolidate from five separate offices into one location.

HFF Arranges $60.9M Sale of 117-Unit Multifamily Property in Manhattan

NEW YORK CITY — Holliday Fenoglio Fowler (HFF) has brokered the $60.9 million sale of 321 East 22nd Street, a multifamily property in Manhattan’s Gramercy Park neighborhood. The property is located within three blocks of the 4, 6, N, Q, R and W train lines and near Gramercy Park and Madison Square Park. The six-story building encompasses 117 residential units and 2,800 square feet of commercial space, which is leased to Synergy Fitness. Jeff Julien, Rob Hinckley and Andrew Scandalios of HFF …

DMG Investments Breaks Ground on 322-Bed Community Near the State University of New York at Albany

Albany, N.Y. — DMG Investments has broken ground on a 322-bed student housing community located near the State University of New York at Albany campus in Albany. The $30.5 million community will be located at the former Red Carpet Inn site at 1385 Washington Ave. The four-story, 142,000-square-foot property will offer one-, two-, three- and four-bedroom, fully furnished units with bed-to-bath parity. Shared amenities will include partially underground parking, in-unit washers and dryers, a …

MassHousing Closes on $37.2M in Financing for Workforce Housing in Quincy, Massachusetts

QUINCY, MASS. — Construction is underway at The Watson, a 140-unit multifamily project on a 1.7-acre site at 116 East Howard Street in Quincy, adjacent to the former Fore River Shipyard. The project involves the demolition of a long-vacant former office building. DellBrook Construction is building the project, with completion slated for July 2018. Eighty-six of the 140 units at the Watson will be workforce housing units, affordable to middle-income households. The workforce housing units will …

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