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Lee & Associates – LA North/Ventura inks nearly $68M multifamily

 Lee & Associates LA North/Ventura’s National Multifamily Director Warren Berzack, negotiated the sale of a three-building multifamily portfolio located in the San Gabriel Valley for approximately $68 million.  The portfolio, located at 4405 Rosemead Boulevard, 5123-5205 Rosemead Boulevard, 4436-4438 Ivar Street, and adjacent 3815 Baldwin Ave., in El Monte, spans the Fashion Park... The post Lee & Associates – LA North/Ventura inks nearly $68M multifamily appeared first on Real Estate Weekly.  Lee & Associates LA North/Ventura’s National Multifamily Director Warren Berzack, negotiated the sale of a three-building multifamily portfolio located in the San Gabriel Valley for approximately $68 million.  The portfolio, located at 4405 Rosemead Boulevard, 5123-5205 Rosemead Boulevard, 4436-4438 Ivar Street, and adjacent 3815 Baldwin Ave., in El Monte, spans the Fashion Park Apartments, Glen Haven Apartments, and Fashion Lane Apartments, respectively, with a combined building size of 215,691 square feet and a combined lot size of 363,144 square feet. The portfolio was sold by the Hunsaker Family to Positive Investments.  Located in the San Gabriel Valley with easy access to nearby 10 and 210 freeways along with metro access, the properties offer a mix of one, two, and three-bedroom units, and single-family residences. Additionally, the building’s range of lush living amenities include swimming pools, club houses, secure entry, covered parking and carports, as well as plentiful area dining options, retail stores, schools, and recreational spaces, making its central location ideal for attracting tenants.   “The properties, all of which were in close proximity to each other, sold over ask with multiple offers in just three weeks,” said Berzack, who represented both parties. “This portfolio signals an extraordinarily strong demand for the multifamily market, particularly those that offer a value-add reposition play. There is also a limited quantity of large property types like this on the market. All of this, coupled with low-interest rates, excess liquidity, and high demand, created a tremendous appetite for this portfolio.”   The post Lee & Associates – LA North/Ventura inks nearly $68M multifamily appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyJan 14th, 2022

Sanofi (SNY) to Acquire Amunix, Boost Immuno-oncology Pipeline

Sanofi (SNY) inks a deal to acquire privately-held Amunix Pharmaceuticals, which will add potentially transformative cancer therapies to its immuno-oncology pipeline. Sanofi SNY announced that it has entered into an agreement to acquire privately-held, immuno-oncology company, Amunix Pharmaceuticals, for an upfront payment of approximately $1 billion.The acquisition of Amunix will add potentially transformative cancer therapies and three technology platforms to Sanofi’s pipeline.Amunix’s proprietary masking technology platform, XTEN, will help Sanofi develop safer and more efficacious cancer drugs by activating preferentially in disease-specific micro-environments. The platform has the potential to discover T-Cell Engager bi-specific antibodies for solid tumors without the risk of unwanted immune attack including cytokine release syndrome. The masking technology also enables the development of drugs that can stay in the patient’s body for a long time in inactive mode but is rapidly cleared from the body as it reaches disease-specific cells. Amunix’s masking technology can be applied to discover new drug molecules as well as to Sanofi’s existing pipeline candidates.Amunix has no clinical-stage candidate in its pipeline. Its lead pipeline candidate, AMX-818 — developed using the XTEN platform — is being developed for targeting HER2-expressing solid tumors. The candidate is likely to enter clinical study shortly.Sanofi already has approximately 20 innovative cancer therapies under development and the Amunix buyout is believed to boost its immuno-oncology pipeline.The acquisition is expected to be completed in the first quarter of 2021, subject to customary closing conditions. In addition to the upfront payment, Sanofi will also be entitled to pay up to $225 million in milestone payments to Amunix’s shareholders upon achievement of certain future development milestones.Sanofi’s shares have gained 0.9% so far this year compared with the industry’s increase of 19%.Image Source: Zacks Investment ResearchSanofi has significantly stepped up its acquisition and alliance activity over the past few years to boost its pipeline and portfolio of drugs.In September, Sanofi acquired its partner for some pipeline candidates, Translate Bio for approximately $3.2 billion. The acquisition added a promising mRNA technology platform to develop therapeutics and vaccines and also accelerate the development of their existing partnered pipeline programs. The company also acquired two clinical-stage biopharmaceutical companies, Kiadis and Kymab, in April. These acquisitions added natural-killer cell therapies, and immune and inflammatory candidates to its pipeline.Sanofi acquired another biopharma company, Kadmon Holdings, last month adding an FDA-approved treatment for chronic graft-versus-host disease, Rezurock, to its commercialized portfolio.Sanofi Price Sanofi price | Sanofi QuoteZacks Rank & Stocks to ConsiderSanofi currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the pharma/biotech sector include GlaxoSmithKline GSK, Repligen RGEN and Sarepta Therapeutics SRPT. While Repligen sports a Zacks Rank #1 (Strong Buy), Glaxo and Sarepta carry a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Earnings per share estimates for Glaxo have increased from $2.82 to $3.05 for 2021 and from $3.08 to $3.25 for 2022 in the past 60 days.Glaxo delivered an earnings surprise of 15.28%, on average, in the last four quarters. GSK’s shares are up 17% so far this year.Earnings per share estimates for Repligen have moved north from $2.76 to $2.90 for 2021 and from $3.03 to $3.21 for 2022 in the past 60 days.Repligen delivered an earnings surprise of 49.21%, on average, in the last four quarters. RGEN’s shares are up 40.7% so far this year.Estimates for 2021 have narrowed from a loss of $6.95 to $4.99 for Sarepta in the past 60 days. Estimates for Sarepta’s 2022 bottom line have changed from a loss per share of $4.78 to earnings per share of $3.61 in the past 60 days.Sarepta delivered an earnings surprise of 11.06%, on average, in the last four quarters.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sanofi (SNY): Free Stock Analysis Report GlaxoSmithKline plc (GSK): Free Stock Analysis Report Repligen Corporation (RGEN): Free Stock Analysis Report Sarepta Therapeutics, Inc. (SRPT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksDec 21st, 2021

WHO’S NEWS: Latest appointments, promotions

Marcus & Millichap has expanded the Board of Directors with the election of Collete English Dixon. She will also serve as a member of the Board’s Nominating & Corporate Governance Committee. Dixon currently serves as Executive Director of the Marshall Bennett Institute of Real Estate, Roosevelt University in Chicago. She... The post WHO’S NEWS: Latest appointments, promotions appeared first on Real Estate Weekly. Marcus & Millichap has expanded the Board of Directors with the election of Collete English Dixon. She will also serve as a member of the Board’s Nominating & Corporate Governance Committee. Dixon currently serves as Executive Director of the Marshall Bennett Institute of Real Estate, Roosevelt University in Chicago. She previously held various key officer and management roles at PGIM Real Estate/Prudential Real Estate Investors (PREI), which is a business unit of Prudential Financial. In her role as Executive Director/Vice President of transactions from 1996 to 2016, she oversaw the sale of investment properties throughout the US. Prior to her role in dispositions, Dixon was responsible for sourcing wholly owned and joint venture real estate investment opportunities. Her experience also includes property development and asset management. Dixon served as president of CREW Network, chair of the CREW Network Foundation, and president of CREW Chicago. ••• Avison Young has hired Larry Zuckerman as principal in the firm’s New York City office. He brings nearly 40 years of commercial real estate experience and leadership to the firm and specializes in delivering value and expertise to office tenants in New York and across the Tri-State area. Zuckerman previously served as senior managing director at Newmark and, before that, was a senior vice president with Grubb & Ellis for nearly 20 years. He began his real estate career with Gronich and Company after graduating from Franklin & Marshall College with a BA in Business. ••• Rudin Management Company announced that two senior executives have joined the company. Christopher Flynn has been appointed Senior Vice President and Chief Financial Officer, and Ray Houseknecht joins as Senior Vice President, Head of Multifamily. Chris Flynn is responsible for all accounting operations, financial reporting, lender and JV partner compliance, audit and tax compliance, and treasury functions across the organization in his new role. He also serves on Rudin’s Executive Committee. An industry veteran with more than 20 years of experience across the real estate sector, Flynn served as Chief Financial Officer at Atlas Capital Group, Vice President at Vornado Realty Trust and Manager at Ernst & Young. He graduated from SUNY Binghamton with a Bachelor of Science in Accounting and is a certified public accountant (CPA). Ray Houseknecht is responsible for the operation of Rudin’s residential portfolio including leasing, marketing, facilities, design and construction. He comes to Rudin from WeLive by WeWork, where he was most recently the Global Head of Operations and Asset Management. Prior to WeLive, Houseknecht spent eight years at AvalonBay Communities as a Senior Portfolio Director, where he managed the operations of 3,700 residential units, as well as the development and expansion of new assets throughout Long Island. Before AvalonBay, he spent three years in his own real estate consulting practice and five years at Heinlein Capital Ventures. He holds a Bachelor of Business Administration from Loyola College in Maryland. The announcement comes on the heels of five senior-level promotions at Rudin, including Samantha Rudin Earls, Michael Rudin and Neil Gupta to Executive Vice President, and Cassie Kulzer and Nick Martin as Senior Vice President. Rudin also recently appointed Andrew Migdon as Executive Vice President and as the company’s first-ever Chief Legal Officer. ••• Colliers has hired Shawn Henry as managing director, Head of Single-Family Rental | U.S. Capital Markets. An expert with more than 20 years of experience in the single-family rental (SFR) sector, Henry joins Colliers after building his own specialty SFR-focused business. Before that, he held senior leadership positions covering SFR with both A10 Capital and Capmark/GMAC. He will lead Colliers’ single family practice as it advises a variety of institutional investors across the spectrum of transactions, including acquisitions, capital raises, dispositions and financings for large and mid-sized portfolios of SFRs across the country. Henry is the latest appointment to Colliers’ Capital Markets platform, which has recently added Head of New York City Capital Markets Peter Nicoletti, Managing Director of Boston Investment Sales Frank Petz and New York Debt & Equity Finance Group Managing Director Jimmy Board. ••• Abraham Bergman has assumed the positions of president and CEO of Eastern Union. He had previously served as Eastern Union’s managing partner since co-founding the firm with Ira Zlotowitz in 2001. Zlotowitz had served as the company’s president and CEO since its inception. He will now be pursuing other activities in the commercial real estate field. Bergman has played an active and central role in shaping Eastern Union’s corporate strategy and structure. He has been a leader in sales and relationship-building across each of the company’s CRE sectors. Bergman holds a bachelor’s degree in accounting from Touro College and a master’s degree in general business administration from Baruch College. Eastern Union also announced that its two most productive brokers, Marc Tropp and Michael Muller, have been named to the company’s board. They each hold the title of senior managing director. Muller has been the firm’s leading broker in the New York City market over the past 20 years. Tropp has been Eastern Union’s number-one broker in the Mid-Atlantic regional market for the last 16 years. Moshe Maybloom, a 14-year veteran of the firm, has also been named to the company’s board and has assumed the position of senior managing director of operations. ••• DH Property Holdings has hired architect Michael Bennett as director of development as the company looks to expand nationally. Bennett, a former principal with Ware Malcomb, has designed more multi-story, urban-infill distribution centers than any other architect in the nation, including groundbreaking DHPH projects. Bennett began his career as a designer at Ware Malcomb in 1997 after completing a University of Arizona architecture degree. He spent 24 years at the firm and served as head of the East Coast division. He has deep experience with land-use and planning studies and with complicated zoning and infrastructure challenges. ••• Walker & Dunlop has appointed P.J. McDevitt as Managing Director. Focused on the affordable housing space, McDevitt will drive loan origination growth nationally to help address the country’s significant need for affordable housing. Since 2018, McDevitt has been involved in the origination, underwriting, and closing of nearly $1 billion in affordable housing transactions. He previously served as a director at Greystone and, before that, held various positions with PNC, where he contributed his expertise as a Production Management Representative and Production Assistant. McDevitt began his career in commercial real estate at Walker & Dunlop as a senior analyst. ••• Duval & Stachenfeld announced that Kim Le and Christopher Gorman have been named co-chairs of the firm’s real estate practice group. Le and Gorman both joined D&S as associates in 2004. In the 17 years since, they have each become highly sought-after attorneys, who have consistently leveraged their legal acumen and business savvy to craft creative solutions for their clients. Over the course of their respective careers, each has served as legal counsel on billions of dollars of complex real estate transactions, including platform creation, portfolio acquisitions, multi-layered financings, and complex joint-venture equity partnerships. ••• Greystone announced that Adam Lipkin has joined Greystone Capital Advisors as a Vice President. He joins the capital solutions advisory group to leverage his capital markets knowledge and experience, including expertise in Commercial Property Assessed Clean Energy (C-PACE), to help craft innovative debt and equity solutions for clients and originate large-loan agency and FHA opportunities within his extensive client network. Lipkin has worked in the commercial real estate finance industry for nearly two decades, and joins Greystone from Counterpointe Sustainable Real Estate LLC, a direct lender for C-PACE, where he served as Executive Director. Prior to that role, he was a Vice President at Grandbridge Real Estate Capital. Earlier in his career, Lipkin worked in capital advisory with HFF and a subsequent boutique advisory team, Olympian Capital Group. Prior to his advisory work, Lipkin served at Ernst & Young in the New York Real Estate Advisory Group. ••• TSCG announced the hiring of Craig Gambardella as a tenant and landlord broker. He will operate out of their Manhattan and White Plains offices. An expert in the health care real estate sector, Gambardella will also spearhead a strategic initiative within TSCG to develop a proprietary suite of services aimed at real estate management in the healthcare sector. Gambardella has been in the healthcare space for more than a decade and has worked with such healthcare organizations as Yale New Haven Health, Ontario Hospital Association, Memorial Sloan Kettering, and Cedars Sinai Hospital. At JLL, he was part of their healthcare real estate practice. ••• RIPCO Real Estate announced that Jordan Cohn has joined the firm as executive vice president. Cohn previously served as a partner of SCG Retail, the urban division of The Shopping Center Group, where he was with the firm for nearly 20 years. His primary focus was on tenant representation and has closed deals for recognized brands such as REI, Chick fil A, Home Depot, Bobby Flay, Charles Schwab, Crossroads Trading Company, Señor Frogs and many other local and national retailers, to name a few. In addition to retail real estate work and accolades, Cohn has a career in the film industry and can be seen in movies such as The Westler, written by his brother in-law. ••• Madison International Realty announced that Diana Shieh and Kim Adamek, managing directors of Portfolio and Asset Management, have been promoted to co-heads of Portfolio and Asset Management, overseeing assets under management in all sectors and regions across the US, UK and Europe. Shieh and Adamek will oversee the firm‘s global portfolio and asset management team focused on its investment positions in real estate assets, including business plan execution, monitoring financial performance, driving relationships with Madison’s operating partners, and providing strategic recommendations seeking to enhance investment returns. They each joined the firm in 2014. Shieh and Adamek each bring nearly two decades of experience to the role. Prior to Shieh’s tenure at Madison, she held various positions in asset management and investments at Rockwood Capital and Shorenstein Properties. Shieh also serves as the Co-Chair of Madison’s ESG Committee. She is a graduate of Rutgers University. Adamek held various positions in acquisitions at CBRE Global Investors and Unico Properties. She is a graduate of Northern Arizona University and holds an MBA from New York University. ••• Katz & Associates announced that Russel Helbling has joined the firm as managing director in New York City. Helbling will be working on tenant and landlord representation primarily in Long Island and the surrounding New York Metro region. For the past 10 years, Helbling has worked in tenant and landlord representation at Sabre Real Estate. He has handled strategic roll-outs for brands including Starbucks, Wendy’s Hamburgers, Sherwin Williams and Dollar General and has been involved in numerous ground-up development leasing assignments in Long Island and the Outer Boroughs. Prior to working at Sabre, Helbling was at Breslin Realty working on retail leasing, and at Massey Knakal, where he primarily focused on investment sales. Helbling graduated from Indiana University in Bloomington with a Bachelor of Science in telecommunications. ••• Blank Rome announce that Sonia Kaur Bain has joined the firm’s New York office as a partner in the Real Estate practice group,. Bain represents developers, retail companies, hotel groups, landlords and tenants, and family offices across the country in the acquisition and development of numerous types of commercial real estate assets. Prior to joining Blank Rome, Sonia was a real estate partner at Bryan Cave Leighton Paisner. In addition to her practice, Bain currently serves as the president of New York Women Executives in Real Estate (WX), where she has been a board member and officer for five years. ••• Avison Young has hired Thomas Kaufman as principal to boost the firm’s business efforts in the Downtown Manhattan submarket. He brings more than 30 years of experience in providing consulting and brokerage services to banks, partnerships, corporations and institutional owners. He joins Avison Young from InterRelate Group, where he served as Chief Executive Officer. Before that, he spent seven years as an executive director at Cushman & Wakefield and, prior to that, he was with the New York office of CB Richard Ellis as a senior vice president. Kaufman has broad experience representing both major commercial property owners and tenants. He provides consulting services for the not-for-profit community, including American Numismatic Societyand the Hetrick-Martin Institute,. Kaufman will work closely with Todd Korren, principal in Avison Young’s New York City office, to grow the firm’s downtown platform through recruiting and new business development initiatives. ••• Duval & Stachenfeld announced that Ilya Leyvi has been named co-chair of the firm’s real estate finance practice group. Leyvi will helm the practice group alongside Tom O’Connor, who has chaired the real estate finance practice since he joined D&S in 2014. Currently a partner at D&S, Leyvi first joined the firm as a summer associate before joining full-time as an associate in 2013. He regularly represents lenders and borrowers on bridge loans, construction loans, mezzanine loans, and commercial mortgage-backed securities, as well as preferred equity investments. He has served as counsel on deals across all property types. Leyvi graduated at the top of his class from Cornell Law School and received his B.B.A. from CUNY Baruch College – Zicklin School of Business. ••• Cushman & Wakefield has hired Tim McNamara and Kevin Daly as senior director and director, respectively. Based out of the firm’s Hartford office, they will cover New England, Westchester County and New York’s Hudson Valley to greater Albany. McNamara has more than 34 years of industry experience and has been recognized as one of the top producing retail brokers in New England and New York. In addition to his leasing experience, he has facilitated the sale of tens of millions of dollars’ worth of retail properties. McNamara holds a Bachelor of Science in Finance from Bryant University. Daly has more than 20 years of industry experience working with a range of national retailers, selling in excess of $50 million of land and overseeing nearly $200 million of lease transactions throughout his career. McNamara and Daly join the firm from SullivanHayes Companies Northeast, . Daly has a Bachelor of Arts in History from Providence College. ••• JPMorgan Chase announced Michelle Herrick as Head of Real Estate Banking (REB). Previously, Herrick served as the REB Central Region Market Manager, overseeing the Midwest, Mountain and Southeast markets. She led a team that helps clients with strategies and tools to maximize investment opportunities, manage operating costs, mitigate risk and manage assets for greater efficiency. Prior to joining JPMorgan Chase in 2017, Herrick started her career at LaSalle Bank and remained there after Bank of America acquired the firm in 2007. She held various roles within the commercial real estate banking business, covering a national book of public and private real estate sponsors. Michelle received her bachelor’s degrees in accounting and finance from Miami University and she earned an MBA from the University of Chicago. ••• Due By the First has hired Matthew Murphy as Portfolio Manager responsible for underwriting new deals and managing current assets for the Long Island-based firm that offers short term bridge loans, permanent financing and commercial debt acquisitions. Previously, Murphy worked as director of finance at ERG Commercial Real Estate. Over his career, Murphy has overseen the origination of over $100 million of commercial and multifamily bridge loans in New York City. He began his career as a commercial real estate broker and managed a team focused on CRE deals in the Bronx. He is a 2009 graduate of SUNY Albany where he received a bachelor of science degree in physics. ••• The Swig Company announced the following personnel changes: Stephanie Kwong Ting has been appointed Executive Vice President – Director of Investments in charge of investments and will take charge of the company’s capital markets transaction activity. She succeeds Tomas Schoenberg who will retire later this year. Ting joins the company from Morgan Stanley where she was an Executive Director. Kairee Tann has been named Vice President of Innovation and Asset Management. Tann, who joined The Swig Company in 2016 as a project manager responsible for 300 Lakeside in Oakland, was most recently VP of Asset Management. The post WHO’S NEWS: Latest appointments, promotions appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyNov 22nd, 2021

Millennials, Remote Work Are Upending Cities—What It Means for Real Estate

Location is, and has always been, everything in real estate. The truism that where a property sits must be its most important characteristic remains undisputed. But what is location, really? What does it mean to homebuyers, and what are the consequences when changes come? The truth is, street layouts, public transportation systems, commuting routes, open […] The post Millennials, Remote Work Are Upending Cities—What It Means for Real Estate appeared first on RISMedia. Location is, and has always been, everything in real estate. The truism that where a property sits must be its most important characteristic remains undisputed. But what is location, really? What does it mean to homebuyers, and what are the consequences when changes come? The truth is, street layouts, public transportation systems, commuting routes, open space, walking paths, restaurants or shopping, parks, schools and scenic views are malleable both in how they are valued and how they come to be. While location might seem like a relatively static feature when talking about properties, shifting priorities from policymakers as well as evolving consumer preferences can quickly cool off a hot neighborhood or revitalize a lagging market. Both these processes are happening all the time, but the current shift is maybe more dramatic and moving more rapidly than at any time in recent memory as Americans completely reevaluate exactly where they want to live—and why. Dr. Sam Chandan is a professor at NYU and Academic Dean of the school’s Schack Institute of Real Estate. He says a multitude of changes are manifesting now that could impact both city planning and real estate for decades to come. “Millennials are not necessarily looking for something that looks like Levittown,” says Chandan, referring to the hyper-planned suburban Long Island community that is often cited as a model of postwar housing philosophy. “It’s not sort of a ‘Leave it to Beaver’ scenario.” With people born in the 1980s and 1990s becoming the largest segment of homebuyers, understanding that demographic’s needs and preferences is a holy grail for real estate professionals. But how is that information guiding the growth of towns and cities, and what does it mean for the housing market? Chandan says that like most things real-estate related, the answers are always going to be local. But as the temporary supply constraints currently preventing the housing market from reaching its full potential fade, Chandan predicts that areas that allow higher densities through zoning reforms and follow a more centralized, community-oriented plan of development will be best positioned to capitalize and grow. “We’re talking about wanting to be in easy reach of a set of cultural and social amenities, and I think that is quite different from what we would have seen as the profile of a comparably-aged young family 30 years ago,” he says. Waiting on the World to Change Manhattan Beach nestles in the southwest corner of Los Angeles. The median sale price for a home exceeds $2 million, according to U.S. census data, with a mostly white and Asian population in a county that is almost 45% Hispanic. Most residential areas are composed of close-set, adobe-roofed single-family constructions on narrow streets, bisected with a commercial thoroughfare that feeds into the city’s bustling beach-adjacent downtown—a spread of health food stores, cafes and boutique retail shopping pressed right up against the water. Kristi Ramirez-Knowles is a team leader for Your Home Sold Guaranteed Realty and a long-time Manhattan Beach resident, though she works in many of the surrounding southwest LA cities. In an area that is historically resistant to change, COVID has potentially provided a kick-start for generational changes in living preferences. “Now, post COVID—though we’re still in COVID—we still have a mix. We still have people that are willing to go almost anywhere,” she says. “ it’s a safe community.” Woburn, Massachusetts is a sprawling suburb about 25 minutes outside of Boston. It can trace its European colonization back to the mid 1600s, and is now characterized by its rustic winding streets and big colonials with plenty of forested areas and parks filling the margins. The town offers a wider range of price points, from $150,000 ranch fixer-uppers to a handful of multi-million-dollar estates. Eileen Dohtery is a ninth-generation resident of Woburn with 40 years of real estate experience, currently working for Lamacchia Realty. She says even as homebuyer preferences have evolved rapidly, change in policy and infrastructure often creeps up more gradually. “ are beside themselves because there’s so much development—if anything they’d like to restrict it and make it less per acre,” she says. Dan Forsman is President & CEO of Berkshire Hathaway HomeServices Georgia Properties. Overseeing the Atlanta region, he says dozens of thriving suburbs—many of which were originally vacation or resort communities—have begun “revitalization” efforts to begin serving changing needs and desires of longer-term residents. “Eclectic, farm to table restaurants—people are looking for that, access to that, and looking to where they can get that when they’re away from what I call ‘white noise,’” he says. Though these three disparate regions will certainly evolve along different lines at a more granular level, Chandan says that broadly the narrative of mass migration to different states or cities is overblown. People—especially young people—are looking to live within or near traditional metros like New York or Boston, but specifically for towns that can offer them a specific index of amenities. “What the data actually tells us is the dominant trend is greater dispersion in the metropolitan area,” he says. “They’re able to sort of optimize in a way that also accounts for all these other things that they care about.” What’s My Age Again? One of the most direct methods of addressing these needs is “upzoning” to allow for more density around what Chandan describes as the “quasi-urban core” of smaller towns and suburban cities. This has proved effective in combating land scarcity, affordability and transportation access, and often allows for developments of mid-rise condo complexes, townhomes or repurposed mixed-used construction that previously might have been disallowed or heavily regulated. These changes are also becoming more politically viable in many places as a new generation arrives—a generation that is more comfortable with diversity and living close to others, according to Chandan. In Woburn, this is only partly true, as Dohtery says she has observed some attitudes changing while others have not—starting with acceptance of racial diversity. “In the older parts of the center…it was more mixed nationalities. The older people wouldn’t walk down there. Younger people are that much more liberal, they don’t care, they like it. That’s where you see changing,” she reflects. In recent years there has been a big push to tear down old buildings in Woburn’s centuries-old central hub, putting up some multifamily living units and opening restaurants and retail stores. Doherty herself owns a multi-family home right in the city center, where her niece currently lives with some younger roommates. “They absolutely love being there, they walk downtown—literally in their backyard—to a different restaurant every night,” she laughs. At the other extreme, some neighborhoods in towns abutting Woburn can only be reached by unpaved, pothole-ridden streets—not because the town cannot afford to fix or pave them, but because people who live there have lobbied against it, according to Doherty. The idea, she says, is to discourage anyone who doesn’t live there from even driving past, keeping noise and nuisance to an absolute minimum. “That’s old Yankee money,” Doherty says. “It keeps the people out of their neighborhood.” Some of these folks are likely fighting a losing battle if they’re hoping to prevent development to that extreme (Doherty is currently involved with a 147-unit townhome development in Woburn). While resistance from locals can certainly slow down the evolution of a city, eventually both policymakers and developers are going to find ways to meet consumers with what they want. One thing that is changing in Los Angeles is at least a partial removal of one of the biggest barriers there: commuting. In the past, Ramirez-Knowles says she would tell potential homebuyers to rent a hotel for a night near a neighborhood they were considering and see if they could endure the level traffic and smog on a day’s commute before deciding to live there. But now with remote work, as well as a renewed emphasis on transportation and now-ubiquitous electric cars, Ramirez-Knowles says that areas that used to be defined by their freeway access and distance to business centers are trying to become self-sustaining. “So many millennials are doing a lot of their jobs—-they can work from home,” she says. “They don’t want to get out and drive. It’s important for them to walk or if they have to drive, drive a very short distance.” That is not to say that traffic does not matter anymore—commuters still end up driving as much as four hours a day to go a handful of miles cross-town, Ramirez-Knowles says. But areas that have more space, better views and nice schools are now options for many more families who do not have to worry about prohibitively lengthy drives. Another offset of the millennial lifestyle and work-from-home opportunities that is influencing city layouts is loneliness. Starting with the pandemic isolation, Ramirez-Knowles says people began seeking out “community amenities” where they could at least encounter another friendly (even mask-wearing) face. That has continued as people who work from home have limited excuses to just get outside, meet neighbors and learn about their town. “They want to be able to go walk their dogs, walk with their kids, get outside and get vitamin D,” she says. “You’re not getting out very much…you need places to go walk, you need a walkway—a green belt, if you will—a park, a pier.” In the Atlanta area, several towns are realizing that they can provide a lot more for their changing communities, according to Forsman. People who have second homes in the suburbs are spending more and more time away from the white noise of their working lives, he says, and are beginning to look for the same amenities in these areas as they have in their primary homes. Though this trend is hardly analogous to what is happening in Woburn or Los Angeles, the effect is the same: cities are re-developing downtowns and shifting the kind of access and amenities they provide. “They’ve had a face lift and an upgrade, because people aren’t going to malls the way they used to,” Forsman says. This applies even to areas in the north that historically have been made up of mostly seasonal resort towns in the mountains. As flexible work allows residents to spend more time here, businesses move in to provide more grocery shopping, entertainment and year-round services, which in turn draws even more people to make those towns their permanent—or semi-permanent—homes. Stop, Collaborate and Listen There are many other barriers and unintended consequences stemming from the types of changes happening right now as well, he adds. Cities that are too successful with these tactics will quickly see the price of land and homes balloon, slowing real estate growth and creating more racial and economic segregation. In places like Woburn, there is also the possibility of political backlash, and policymakers must balance the often-powerful backlash from residents and other stakeholders who fear loss of so-called community character or outsides. Real estate professionals can make a big difference in these situations. Doherty says that as a longtime resident she is trusted by even the most stalwart Woburnites and can navigate the complicated landscape of local politics and land use laws, where trust and experience make all the difference. Doherty speaks of being contacted by a local politician one time, who invited her to attend a campaign event emphasizing that she was maybe the most well-known public figure in the area. “I said to him, ‘I have to go, I sold you your house!’” she laughs. In Woburn, developments, zoning tweaks and infrastructure investments happen gradually, and becomes much easier with any local support, according to Doherty, with projects eeking through the approval process one by one. On the other side of the country, Ramirez-Knowles says the overpricing and lack of homes has pushed people to settle in areas where the schools or neighborhoods maybe aren’t what they had originally hoped for. Developers are building brand new, more affordable condos inland in cities that haven’t historically been “family friendly” like Torrance and Gardena, and people are snatching them up, she says. “I would say that’s attracting families even though the school district may not be that great. I think it’s the appeal of brand new and something they can afford,” she posits. Many of these units are selling out before they are even framed, she adds, during the current inventory crunch. If cities approve the kind of housing units people are looking for— which Ramirez-Knowles describes as narrow, multi-floored condo communities with built-in recreation centers, pools and gyms—even more business investment and development often follows. The result of all this movement and new development, of offering wider varieties of housing types and densities in different parts of a given city creates demographic diversity, according to Chandan. A place that can accommodate young and old, wealthy and lower income folks, families and retirees is much healthier for everyone, and especially for the real estate market. Though convincing some people of these benefits will be difficult—and sometimes impossible— Chandan argues that even those who prefer their “Leave it to Beaver” lifestyle will eventually benefit from this type of change. “The person who is a young family right now in a two or three-bedroom rental unit in that quasi-urban core—in five years, that person is a potential buyer for your home,” Chandan says. Jesse Williams is RISMedia’s associate online editor. Please email him your real estate news ideas to jwilliams@rismedia.com. The post Millennials, Remote Work Are Upending Cities—What It Means for Real Estate appeared first on RISMedia......»»

Category: realestateSource: rismediaNov 22nd, 2021

Castle Lanterra buys suburban Texas community

Castle Lanterra Properties, a New York-based national real estate investment firm, announced the acquisition of Broadstone McKinney, a newly developed 255-unit suburban multifamily community located minutes from bustling Historic Downtown McKinney, Texas. The firm, which owns and operates more than 6,600 residential units across the country, purchased the asset from... The post Castle Lanterra buys suburban Texas community appeared first on Real Estate Weekly. Castle Lanterra Properties, a New York-based national real estate investment firm, announced the acquisition of Broadstone McKinney, a newly developed 255-unit suburban multifamily community located minutes from bustling Historic Downtown McKinney, Texas. The firm, which owns and operates more than 6,600 residential units across the country, purchased the asset from the developer, Alliance Residential. Sources close to the deal say the sale price was north of $60 million. “We are extremely bullish on the strength of the residential market in the Dallas/Fort Worth area, which leads the country in both employment gains and population growth, and specifically in the tremendous upside of this really unique multifamily community,” said CLP CEO Elie Rieder. “Moreover, the McKinney submarket is projected to experience future job growth of almost 55% – much higher than the national average of 33.5%, illustrating the affluence in the immediate area.” The newly constructed residential property features units with balconies, or patio; private yards; electric entry door locks and Nest thermostats.  Community amenities include a clubhouse with resident lounge, full kitchen and game area, a business center with private conference room, a Technogym fitness center , swimming pool, outdoor kitchen lounge, dog park and pet parlor, a LuxerOne package center, and 24-hour emergency maintenance services. The post Castle Lanterra buys suburban Texas community appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyNov 1st, 2021

Here"s Why You Should Retain Allscripts (MDRX) Stock For Now

Investors continue to be optimistic about Allscripts (MDRX) owing to its strategic alliances and various innovation milestones. Allscripts Healthcare Solutions, Inc. MDRX is well-poised for growth in the coming quarters, backed by its strategic alliances over the past few months. A robust second-quarter 2021 performance, along with various innovation milestones, is expected to contribute further. However, healthcare regulatory changes and foreign exchange concerns persist.Over the past year, this Zacks Rank #3 (Hold) stock has surged 35.3% against 29.2% fall of the industry it belongs to. The S&P 500 composite rose 31.7% in the said time frame.The renowned IT solutions and services provider has a market capitalization of $1.78 billion. The company projects 9.7% growth for the next five years and expects to maintain its strong performance. It has delivered an earnings surprise of 24.35% for the past four quarters, on average.Image Source: Zacks Investment ResearchLet’s delve deeper.Strategic Alliances: We are optimistic about Allscripts’ partnerships over the past few months. This month, the company’s business unit, Veradigm, entered into a collaboration with CareMetx. Per the terms of the new agreement, CareMetx is expected to combine its solutions and services directly into the Veradigm AccelRx specialty medication platform.In September, Allscripts partnered with Eastern Health to advance health-care services and programs while maximizing health system efficiencies and general economic development in Newfoundland and Labrador, Canada.Innovation: Allscripts’ portfolio consists of various innovation milestones achieved over the past few months, which raise our optimism. The company, this month, announced the launch of Guided Scheduling, the latest addition to its automation features in Allscripts Practice Management. Allscripts Guided Scheduling, launching in Allscripts Practice Management, is an artificial intelligence scheduling application that utilizes real-time provider, practice and industry data to improve providers’ days.Allscripts confirmed the launch of an internal DEI website giving associates visibility to the DE&I initiatives as well as to the company’s goals and vision during the second-quarter 2021 earnings call in August.Strong Q2 Results: Allscripts’ solid second-quarter 2021 earnings buoy our optimism. The company saw year-over-year uptick in both the top and bottom lines, along with a surge in total bookings during the reported quarter, which is also impressive. Revenues from the Client services segment also rose during the quarter. Management is upbeat about its strong domestic and global pipeline for health systems, which further buoys our optimism on the stock. Expansion of both margins is another positive.DownsidesHealthcare Regulatory Changes: Allscripts may be subject to pricing pressures with respect to future sales arising from various sources, including practices of managed care organizations, group purchasing arrangements made through government programs, government action affecting reimbursement levels or any combination thereof under Medicare, Medicaid and other government health programs. The company’s clients and the other entities with which it has business terms are affected by such changes.Foreign Exchange Concerns: Allscripts conducts its business in currencies other than the U.S. dollar, but reports its financial results in U.S. dollars. As a result, the company gets exposed to fluctuations in currency exchange rates. Significant fluctuations in exchange rates between the U.S. dollar and foreign currencies may make Allscripts’ products and services more expensive for its global clients. Further, such fluctuations could materially and adversely impact Allscripts’ operating results.Estimate TrendAllscripts is witnessing a positive estimate revision trend for 2021. In the past 90 days, the Zacks Consensus Estimate for its earnings has moved 6.7% north to 80 cents.The Zacks Consensus Estimate for the company’s third-quarter 2021 revenues is pegged at $376.4 million, suggesting a 6.4% fall from the year-ago quarter’s reported number.Key PicksSome better-ranked stocks from the broader medical space are Henry Schein, Inc. HSIC, Intuitive Surgical, Inc. ISRG and West Pharmaceutical Services, Inc. WST.Henry Schein’s long-term earnings growth rate is estimated at 13.9%. The company presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Intuitive Surgical’s long-term earnings growth rate is estimated at 9.5%. It currently holds a Zacks Rank #2.West Pharmaceutical’s long-term earnings growth rate is estimated at 27.3%. It currently carries a Zacks Rank #2. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intuitive Surgical, Inc. (ISRG): Free Stock Analysis Report Allscripts Healthcare Solutions, Inc. (MDRX): Free Stock Analysis Report Henry Schein, Inc. (HSIC): Free Stock Analysis Report West Pharmaceutical Services, Inc. (WST): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 19th, 2021

DMN: Local multifamily developer plans 353-unit Midtown project along U.S. 75

According to a story in The Dallas Morning News, a new apartment community in midtown Dallas will fill one of the last vacant development sites along the North Central Expressway. Dallas-based Lantower Residential plans to build a five-story building on the site, according to filings with the city of Dallas plan commission, the story said. The 353-unit rental community is on a 4-acre site on the east side of U.S. 75, just north of Meadow Road. It was recently put up for sale by the Westcott family.….....»»

Category: topSource: bizjournalsOct 6th, 2021

Interview With Elizabeth Burton And Purnima Puri From The CNBC Delivering Alpha Conference

Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Elizabeth Burton, Employees’ Retirement System of the State of Hawaii Chief Investment Officer, and Purnima Puri, HPS Investment Partners Governing Partner and Public Credit Strategies Portfolio Manager, from the CNBC Delivering Alpha Conference, which took place on Wednesday, September 29th. Q2 2021 […] Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Elizabeth Burton, Employees’ Retirement System of the State of Hawaii Chief Investment Officer, and Purnima Puri, HPS Investment Partners Governing Partner and Public Credit Strategies Portfolio Manager, from the CNBC Delivering Alpha Conference, which took place on Wednesday, September 29th. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Series in PDF Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2021 hedge fund letters, conferences and more Elizabeth Burton On A Risk Of Higher Inflation I think there are parts of things that have gone out that are transitory, and I think you saw that in airline prices in August, right. So you saw a pullback there, some of that, yes, but I think a lot of the things you mentioned like home prices I don't see a sign of that slowing. Owners equivalent rent and these are large parts of CPI, and we can debate all day long whether or not CPI is a good thing to be tracking anyway, but I do see a risk of higher inflation. And I also think even if you don't agree with that, the confidence intervals are wider right so you have to care about it and you have to position your portfolio for that because literally everyone is screwed if they don't. Purnima Puri On Fed Chair Rate Hikes I do think you’re going to have, whoever is in that seat likely to be in that same range of that four to six number of hikes in the near term because I don't think you need a lot of flexibility in economic policy to continue the growth, right? GDP is expected to continue to go and all the estimates that went down this year, actually just transitioned to next year a little bit so you went from sort of five, you know, it went down to, I guess 50 basis points plus or minus, but that went to sort of north of 4% for 2022. So, it’s not clear that you need a whole lot of easy policy right now. Elizabeth Burton On Negative Outlook I just have a more negative outlook and I think I'm not alone, right. Look at how many times people have mentioned growth recently it's, it's meaningfully equalized than they were six months ago. But, you know, that opens the opportunity for other things but I think, I think if I had the best of the two, I would say it would definitely be on the inflationary front. Elizabeth Burton On Wage Disparity It's not potentially just all about chain disruptions, but I think one of the biggest risks right now is wage disparity, right. And also, labor shortages like trying to get people back into the office you're having to pay them more they're not coming back. So, I think that's actually the long-term issue as well, the some of the supplies theme stuff. Sure, it'll get resolved, and maybe some of the wage stuff will too. I don’t know how long people can hold out but I think that that's a risk factor that needs to be taken into consideration. Purnima Puri On Default Rates I don't think in the near-term default rates are going to go up. I think estimates, you know, default rates peaked last year around 9% I want to say plus or minus, and their estimates are down at two and a half percent. I think if there's a surprise it's actually default rates will continue to go lower, not higher. So, I don't think that, I do think the high yield market is priced pretty much to perfection. Purnima Puri On Hospitality & Real Estate We've actually found some pockets in real estate which we haven't been finding for a long time so, you know, there's hospitality which has daily reset of rate so, you know, you can catch up with inflation or multifamily where you can reset rate, you know, reset lease prices every year and keep up with inflation. So, so I would say, real estate is an area we have started to focus more on in, in the, in the sort of originated credit markets. Updated on Sep 29, 2021, 9:14 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkSep 29th, 2021

Dallas investor pays $155M for north Phoenix apartments

Apartment vacancies in the Valley are at or near all-time lows, and rents are growing at one of the fastest paces in the country. Those are a few reasons why investors continue to clamor to buy multifamily complexes; the latest is one of the biggest of the year......»»

Category: topSource: bizjournalsSep 27th, 2021

Industry Reels out West As Drought Wreaks Havoc on Summer Real Estate Markets

Jennifer Fortune is as bullish on Lake Tahoe real estate as anybody. She’s been serving buyers and sellers in the pristine neighborhoods of the southern region of the lake for a decade. As an agent with Chase International, she is active on both sides of the California-Nevada state line, and she’s enjoyed the weather-related ebbs […] The post Industry Reels out West As Drought Wreaks Havoc on Summer Real Estate Markets appeared first on RISMedia. Jennifer Fortune is as bullish on Lake Tahoe real estate as anybody. She’s been serving buyers and sellers in the pristine neighborhoods of the southern region of the lake for a decade. As an agent with Chase International, she is active on both sides of the California-Nevada state line, and she’s enjoyed the weather-related ebbs and flows of the local market on a mostly upward trajectory—until this summer. With the siege of the 219,267-acre Caldor Fire, which as of mid-September has yet to be contained, Fortune’s confidence and that of the hundreds of agents across the American West who’ve made a living in heavy forest communities—some, like Lake Tahoe, are world-renowned for their scenic beauty and gorgeous estates—is beginning to wane in the face of such devastation. Currently, more than 100 separate wildfires are raging from as far east as Minnesota. According to Cal Fire, the emergency management authority for California, which has, by far, the most wildfires, 3,285 structures have been damaged or destroyed this year with at least three fatalities and the scorching of more than 2.24 million acres in California, alone. The Caldor Fire by Lake Tahoe has crushed the summer home-buying season, which usually climaxes around Labor Day weekend, and forced the evacuation of thousands, including Fortune. “I don’t see how it cannot have an impact on the market,” Fortune says on her 13th day of evacuation. “We’ll recover, but this has to have an impact.” Even in areas where there isn’t an immediate danger, the roads are closed, the forests are inaccessible and the air quality is poor. Fortune indicated some have come back, but most who planned on buying or selling are delaying their plans. Fortune expects the full impact of these fires will not be known for weeks or maybe months, and then it will all be up to the winter ski season. If it’s a snowy winter, that could bring in skiers and support the economy as well as reduce the risk of another dry summer next year. Dryness and winds are the biggest triggers for forest fires. However, there are major issues that have to play out before then—mainly insurance. In California, there is a state-mandated moratorium preventing insurance companies from canceling or non-renewing policies in Siskiyou, Lassen and Plumas Counties for a full year. People who want to buy can’t get a new policy and existing ones have gone through the roof—up 80% over the past two years in some cases, Fortune says. Sabrina R. Belleci, a broker/owner with RE/MAX North Lake, has been active in the Lake Tahoe region for 12 years. She’s been through several of these multi-season drought cycles in that time, but she suggests the current state of the markets is much more complicated due to COVID-19. “COVID is stretching out the seasons,” Belleci says. “Normally, it starts to slow in the fall, but I think it will be okay. People are relocating and getting out of California and the higher income-tax states. There is still quite a bit of demand.” The trend aligns with Fortune’s thesis that an underlying demand for the Lake Tahoe lifestyle will eventually resurface. It’s just not clear how long that will take. If it’s just a brief market correction, that actually may be easy for the market to withstand since it was running so hot prior to the fires, fueled by new remote workers from all over the U.S. who became untethered from their office jobs on account of the pandemic. Most expect that greater trend to remain even if to a lesser extent post-COVID. Still, a quick rebound in Lake Tahoe is probably not in the cards due to the sheer amount of clean-up to perform and institutional hurdles to clear. The first wave is trickling in with bargain-seekers looking to take advantage of the soft market and snap up a few of the waterfront trophy properties, Fortune says. “The only buyers are people thinking they’re going to get deals,” Fortune says. “On the lake, a couple things went quickly, including a condo in three days for $2.5 million on the Nevada side. The desirable properties will hold up.” Then, the Nevada side will likely rebound first due to the insurance situation, Belleci says, citing some of the higher-rated fire districts which reduce insurance premiums. The timing on this, though, is anyone’s guess. Plus, reconstruction efforts could be unusually slow due to a shortage of materials and labor as well as logistical and accessibility challenges. “No one is cancelling as much as they’re just delaying,” Fortune says. “The longer it takes, the more it could increase inventory in the mid- to long-term. It’s always changing, but I think we’re definitely in for a change. I think prices will drop.” In the meantime, one group that is not waiting for the market to recover is the local bear population. Fortune’s home county, in which 700 residents lost their homes to the Caldor Fire, has also seen a barrage of bear break-ins after the evacuation. At least 70 have been reported, Fortune says. Upon being displaced by the fire, these hungry animals stumble upon vacant homes which, in some cases, have fully-stacked refrigerators. “There’s tons of bear damage,” Fortune says. “People have to come home after being evacuated and then they have to clean up.” Forty miles to the north, Broker Karen Degney of Realty ONE Group in Reno, Nevada, has been dealing with the effects of the Dixie Fire, which is four times larger than Caldor—1,329 structures have been destroyed, including 736 single and multifamily homes. She said its massive smoke plume has reached the Rockies, slowing the local real estate market and giving some clients buyer’s remorse. “I’ve had more than one person bring it up,” she says. “One who was closing escrow said, ‘We wish we would have known about these fires, and maybe we wouldn’t have bought here.’” Degney expects the fires from this summer to produce a ripple effect around Nevada and California. Those displaced by the Dixie and Caldor fires could move to the remaining large population centers: Carson City, Reno and what’s left of Southern Lake Tahoe. There is also a lot of back-and-forth as many local Nevadans split time in California’s Bay Area and Sacramento. That trend could be disrupted in the short-term as well, Degney says. Degney says she talks to her clients at length about the drought and subsequent fire crisis to try to put the disaster into context and relieve their concerns. “I tell them this stuff is happening nationwide,” she says. “We are in a drought, but we are in a drought on the whole West Coast. This isn’t normal. It’s extraordinary and the rest of the time it’s wonderful.” Andrew King is a contributing editor to RISMedia. The post Industry Reels out West As Drought Wreaks Havoc on Summer Real Estate Markets appeared first on RISMedia......»»

Category: realestateSource: rismediaSep 21st, 2021

Apartment community in Revere, Mass., employs Danvers Stainless Outdoor Kitchen system

Danver Stainless Outdoor Kitchens' Post and Panel System, designed specifically for use in multifamily residential communities, has been installed in a Vanguard apartment community in Revere, Mass., just north of Boston.   Created.....»»

Category: realestateSource: bdcnetworkJan 19th, 2020

New multifamily development rises in Summerville’s Nexton mixed-use community

Arrogate Village, a new multifamily development in the Nexton mixed-use community, will bring 264 apartments to Summerville, S.C., just north of C.....»»

Category: realestateSource: bdcnetworkApr 3rd, 2019

TRANSACTIONS: Meridian inks $8M Flushing loan, GCP arranges $30M in loans

Meridian Capital announced the following transactions: • A new mortgage in the amount of $8,300,000 on a 68-unit multifamily property located on 148th Street in Flushing, NY. The loan features a rate of 3.75% and a seven-yea.....»»

Category: realestateSource: realestateweeklyApr 25th, 2018

TRANSACTIONS: Meridian secures $11M Bronx loan, Cronheim inks $3M Jersey loan

Meridian Capital announced the following transactions: • A new mortgage in the amount of $11,640,000 on a 74-unit multifamily property located on Kings College Place in the Bronx, NY. The loan feature.....»»

Category: realestateSource: realestateweeklyMay 2nd, 2018

TRANSACTIONS: Progress inks $10M in Jersey financing; Eastern Union funds more than dozen deals

Meridian Capital announced the following transactions: • A new mortgage of $13,000,000 on a 31-unit multifamily property located on Lincoln Place in.....»»

Category: realestateSource: realestateweeklyMay 9th, 2018

Titan breaks ground on Santa Fe project

Titan Development is breaking new ground north of Albuquerque. The New Mexico-based real estate developer broke ground Wednesday on its luxury multifamily project Broadstone Rodeo, in Santa Fe. The 188-unit project is one of the first Class A m.....»»

Category: topSource: bizjournalsJun 7th, 2018

Google inks its first office lease North of Market in San Francisco

Google is making a move north of Market Street with a new lease for 190,000 square feet in One Maritime Plaza at 300 Clay St., according to brokerage firm Cushman & Wakefield. The Mountain View-based company gobbled up more than 500,000 square feet in .....»»

Category: topSource: bizjournalsJan 9th, 2019

North Jacksonville apartment community sells for $54 million

A recently developed Class-A apartment community in north Jacksonville has sold for $54 million. The 300-unit Integra River Run was sold to an affiliate of EBSCO Income Properties LLC. The multifamily community was developed in 2018 by The Sachs C.....»»

Category: topSource: bizjournalsJan 23rd, 2019

A former Trump official admitted he helped Rudy Giuliani with the fake electors scheme

Boris Epshteyn, a former Trump campaign adviser, told MSNBC host Ari Melber he was part of the "process to make sure there were alternate electors." A November 19, 2020 photo shows the personal lawyer of US President Donald Trump, Rudy Giuliani, speaking at a press conference watched by Trump campaign advisor Boris Epshteyn (R), at the Republican National Committee headquarters in Washington, DC.MANDEL NGAN/AFP via Getty Images Republicans in seven states tried to falsely certify the election in favor of Donald Trump. On Friday, Boris Epshteyn, a Trump adviser, told MSNBC he helped with the fake electors scheme.  Epshteyn, alongside Rudy Giuliani, was subpoenaed by the January 6 House select committee last week. A former Trump campaign adviser admitted to playing a role in a scheme to have illegitimate pro-Trump supporters falsely certify the election for him in seven states won by President Joe Biden. MSNBC host Ari Melber asked Boris Epshteyn on Friday if he ever worked on or supported the elector scheme. "Yes, I was part of the process to make sure there were alternate electors for when, as we hoped, the challenges to the seated electors would be heard, and would be successful," Epshteyn said. On Thursday The Washington Post reported that Epshteyn said he'd participated in conference calls with members of Trump's legal team, including Rudy Giuliani, to discuss the electors. The Post and CNN reported on Thursday that members of Trump's inner circle, led by Giuliani, coordinated the scheme.The illegitimate electors' plan had Trump supporters in seven states – Arizona, Georgia, Michigan, Nevada, New Mexico, Pennsylvania, and Wisconsin – submit documents to Congress falsely claiming Trump won the states despite the majority of votes actually going to Joe Biden, according to documents obtained by the watchdog group American Oversight in March 2021. That plan was included in a six-page memo written by attorney John Eastman detailing a plan for overturning the 2020 election. During his interview with Melber, Epshteyn continued to make false claims about election fraud. He also said he did everything legally, citing Hawaii in the 1960 presidential election as a "precedent" for "alternate" electors being used.CNN reported that in that election, however, Richard Nixon initially had a lead on John F. Kennedy by 141 votes (a narrow margin compared to any state in this previous election). After a legal recount, Nixon lost, and the multiple panels of electors were due to the state changing the outcome following the recount. "So, Ari, everything that was done was done legally by the Trump legal team, according to the rules, and under the leadership of Rudy Giuliani," Epshteyn said.Epshteyn, alongside Guiliani and Trump associates Sidney Powell and Jenna Ellis were subpoenaed by the January 6 House select committee this week. Additionally, several attorneys general from the seven states with illegitimate electors say they're pursuing investigations and charges. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 23rd, 2022

Texas AG Ken Paxton could face a lawsuit after missing a prosecutor"s deadline to hand over documents tied to his appearance at Trump"s rally before the Capitol riot

Last week, the Travis County District Attorney's Office gave Paxton four days to hand over records tied to his January 6 rally appearance. Texas Attorney General Ken Paxton, left, next to his wife and Texas State Sen. Angela Paxton, speaks to anti-abortion activists at a rally outside the Supreme Court, Monday, Nov. 1, 2021.AP Photo/Jacquelyn Martin A Texas prosecutor gave AG Ken Paxton four days to turn over records tied to his January 6 appearance.  Paxton refused the request and called it "meritless," the Texas Tribune reported.  The Travis County DA's office said Paxton broke the law by not disclosing his travel to the Capitol. Texas Attorney General Ken Paxton has refused a prosecutor's demand for information regarding his appearance at Donald Trump's rally before the January 6 Capitol riot, the Texas Tribune reported. In a letter to Paxton sent on January 13, Jackie Wood, director of public integrity and complex crimes at the Travis County District Attorney's Office said the attorney general had broken the law by not sharing records about his rally attendance or by not keeping records of it. The letter informed Paxton he would face a lawsuit if he didn't turn over the records of his communications within four days of receipt.The request came after five of Texas' biggest newspapers — the Austin American-Statesman, The Dallas Morning News, the Fort Worth Star-Telegram, the Houston Chronicle, and the San Antonio Express-News – filed a complaint that Paxton was refusing to share records that should be public. Paxton said the Travis County district attorney's request was "meritless." In a letter sent on Friday, a lawyer for Paxton's office, Austin Kinghorn, said they had not violated any provision under the state's open records law. "Frustrated that they have failed to uncover anything worth reporting following 'numerous open records requests to AG Paxton office for various documents,' complainant newspaper editors have sought to leverage your office's authority to further their fishing expedition, or worse, manufacture a conflict between our respective offices that will give rise to publishable content for the complainants' media outlets," Kinghorn wrote about the five newspapers. Paxton's refusal to release records tied to his January 6 appearance comes after attorneys general are considering charges for illegitimate electors who falsified documents saying Trump won the majority of voters in states where he lost. Documents obtained by the watchdog group American Oversight in March 2021 showed Trump supporters in Arizona, Georgia, Michigan, Nevada, New Mexico, Pennsylvania, and Wisconsin submitted documents to Congress falsely claiming Trump won the states after the majority of votes actually went to Joe Biden. The January 6 House select committee is looking deeper into the illegitimate elector scheme and the role Trump and his associates played in it after it was revealed that Rudy Giuliani was tied to the effort. Both the Texas DA and AG offices did not respond to Insider's request for comment at the time of publication. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 22nd, 2022

Waterton favors multifamily and senior housing over office and retail

A Chicago-based real estate investment firm is in the early planning stages for a high-rise apartment building......»»

Category: topSource: bizjournalsJan 22nd, 2022