Property, Rentals, Transactions

Property, Rentals, Transactions

Proffitt Dixon Delivers First Units at Peyton Stakes; Apartment community is first in Nashville...

Proffitt Dixon Partners, a Charlotte-based multifamily investment and development firm, said today Peyton Stakes is nearing completion in Nashville and their first residents began moving in last week. The apartment community is comprised of 249 units between two connected buildings.

Pending Home Sales Retreat in August

After bouncing back in July, pending home sales cooled in August for the third time in four months and to their lowest level since January, according to the National Association of Realtors
Moreland

Crescent Communities Appoints David O’Donoghue Executive Vice President, Resort and Second Home

Crescent Communities today announced it has appointed David O’Donoghue as executive vice president of its Resort and Second Home Communities team. In this role, O’Donoghue will be responsible for sales, marketing, development, overall operations and property management for the company’s flagship Palmetto Bluff community, a 20,000-acre development in the South Carolina Lowcountry, between Hilton Head and Savannah, Georgia.

NAR President Tom Salomone Calls HUD Condo Rule a “Start,” but Says More Changes...

When H.R. 3700, the “Housing Opportunity Through Modernization Act,” was signed into law earlier this year, the Department of Housing and Urban Development was given notice that they had 90 days to weigh in on regulations related to Federal Housing Administration financing for condominiums before changes automatically went into effect. These included rules regarding owner-occupancy rates and treatment of spot loans, among others

Outdoor Remodeling Projects See High Happiness and Financial Returns, Say Realtors

Homeowners looking to tackle a remodeling project should head outside, according to a new report from the National Association of Realtors® and National Association of Landscape Professionals.
Grovemont Square

Lee & Associates Completes Sale of Multi-Tenant Retail Shopping Center in Orange County for...

Lee & Associates, a national commercial real estate brokerage firm, announced today that the company represented the buyer and seller in the sale of Grovemont Square, a 29,030-square-foot multi-tenant retail shopping center at 2428 North Grand Avenue in Santa Ana, Calif. The sale price was $4,730,000, representing a cap rate of 4.26 percent.
Jiffy Lube - Lafayette, IN

The Boulder Group Arranges Sale of Net Lease Jiffy Lube Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Jiffy Lube property located at 3115 South Street in Lafayette, Indiana for $910,000. The Jiffy Lube property is located at the southwest corner of the heavily trafficked signalized intersection of South Street and South Earl Avenue.
Orscheln Farm & Home - Bowling Green, OH

The Boulder Group Arranges Sale of Single Tenant Net Leased Orscheln Farm & Home

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Orscheln Farm & Home property located at 1311 Business Highway 61 South in Bowling Green, MO for $2,440,000
Taco Bell_San Diego

CBRE’s Philip D. Voorhees and NRIG-West Team Complete Sale of Taco Bell and Shops...

CBRE Executive Vice President Philip D. Voorhees announced today that he, Jimmy Slusher and their National Retail Investment Group – West (NRIG-West) team completed the sale of the Taco Bell and Shops, a 18,175-square-foot, strip center in the city of San Diego, Calif., leased to a synergistic mix of food and service tenants, including Taco Bell, El Pollo Loco, Pick Up Stix, AT&T and T-Mobile. The sale price was $14 million, representing a 5.0% cap rate.
TheMaxwell_Sam Kittner

KTGY-Designed Wood-Framed Mid-Rise Apartment Community Achieves 191.76 du/ac and Wins National Award

KTGY Architecture + Planning announced today that The Maxwell in the Ballston neighborhood of Arlington, Va., outside of Washington, DC, earned the Grand Award in the 2016 Multifamily Executive Awards program. Developed by Crimson Partners and designed by KTGY, The Maxwell was named Project of the Year, Mid-Rise Podium or Wrap (4 to 6 stories) at a special event held during the 2016 Multifamily Executive Conference, which took place September 19-21 in Las Vegas, Nev.

Existing-Home Sales Soften Further in August

Existing-home sales eased up in August for the second consecutive month despite mortgage rates near record lows as higher home prices and not enough inventory for sale kept some would-be buyers at bay, according to the National Association of Realtors®. Only the Northeast region saw a monthly increase in closings in August, where inventory is currently more adequate.
CVS (GL) - Dallas, TX

The Boulder Group Arranges Sale of Trophy CVS Pharmacy Ground Lease in Downtown Dallas...

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction CVS Pharmacy ground lease located at 2501 N. Field Street in Dallas, Texas for $14,890,000. The property sold at a 4.60% cap rate which is the lowest cap rate for a CVS sale in 2016 according to CoStar

ESA Changes to National Flood Program will Harm Housing Affordability

The National Association of Home Builders (NAHB) today urged Congress to oppose the inappropriate use of the Endangered Species Act (ESA) to change the focus of the National Flood Insurance Program (NFIP) away from protecting lives and property due to flooding loss

Former Roxse Homes Worker Sentenced for Taking Bribes

The former assistant property manager of Roxse Homes, a subsidized housing development in Boston, was sentenced today in U.S. District Court in Boston for his role in a scheme to rent apartments at the housing development to individuals who were not qualified in exchange for cash bribes

Realtors® Claim Victory against Patent Abuse with Settlement

The National Association of Realtors® is declaring a major victory against patent abuse in a settlement with Data Distribution Technologies, a subsidiary of the patent enforcement firm General Patent Corporation. DDT sued and threatened several real estate businesses in the past over use of a technology-related patent, but NAR challenged the patent’s validity before the U.S. Patent and Trademark Office and filed a declaratory judgment lawsuit on behalf of NAR members.

NAR Study Finds Real Estate Firms Have Positive Outlook, Despite Sales Volume Decrease

The vast majority of real estate firms have an optimistic outlook for the future of the industry’s profitability and growth, according to the National Association of Realtors® 2016 Profile of Real Estate Firms. Profitability expectations have declined from the 2015 survey, mainly due to inventory shortages and home-price growth, but real estate firms remain confident about their overall future profitability.

JLL Selected by Schneider Electric to Design and Manage interior office project in Franklin,...

JLL has been hired by Schneider Electric, the global specialist in energy management and automation, to provide project management services for its new office space located at Two Franklin Park, 6700 Tower Circle, just outside Nashville.

New Safety Survey, Products and Resources Roll Out For Realtor® Safety Month

Since 2003, the National Association of Realtors® has dedicated September as Realtor® Safety Month; this year, as part of ongoing efforts to keep its members safe, NAR has an updated safety report available for members, firms and associations and a mobile app that has been expanded to include safety features

NAR Identifies Top 10 Markets in Dire Need of More Single-family Housing Starts

Single-family home construction is currently lacking in 80 percent of measured metro areas despite steady job creation and the low activity is creating a housing shortage crisis that is curtailing affordability and threatening to hold back prospective buyers in many of the largest cities in the country, according to new research from the National Association of Realtors

Soothe Expands Operations to The Souferian Group’s Iconic Hollywood Office Building

The Souferian Group, a Los Angeles-based real estate development, investment and advisory firm founded and led by Behzad Souferian and focused on developing distinctively branded and designed lifestyle-driven properties, has announced the closing of a full-floor lease for Soothe, an app-based on-demand massage technology company. The company’s expanded operations will occupy the entire sixth floor of 1800 North Highland Ave., a seven-story, Class A office structure located at the gateway to Hollywood’s world-renowned entertainment district.

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Affordable Housing Comes to U Street with the Funding of Portner...

On July 7th, the District of Columbia Housing Finance Agency (DCHFA) closed on the financing of an affordable housing development in one the District’s most sought after neighborhoods, the U Street Corridor. The Agency issued $27 million in short term DCHFA tax exempt bonds providing a portion of the funding for the acquisition of Portner Place and construction of Portner Flats (1440-1450 V Street, NW) located in Ward 1, one block west of The Frank D. Reeves Municipal Center at 14th and U Streets, NW

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Proffitt Dixon Delivers First Units at Peyton Stakes; Apartment community is...

Proffitt Dixon Partners, a Charlotte-based multifamily investment and development firm, said today Peyton Stakes is nearing completion in Nashville and their first residents began moving in last week. The apartment community is comprised of 249 units between two connected buildings.