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LONDON-Central London residential property has outperformed commercial property, equities and Government bonds over the last year, five years and eight years. Last year total returns reached 17.9%.
SAN JOSE-Former Spieker Properties SVP John Petersen will be responsible for the property management, leasing, and overall financial performance for the company's San Jose region portfolio, which totals 10.9 million sf.
MARYVALE, AZ-The final papers are signed, putting a new owner in charge of the 156-unit The Veranda in Maryvale. A Phoenix-based investor has paid $4.7 million to the seller, a Honolulu investor who also is hawking a Peoria complex.
RENTON, WA-A new 58-unit luxury apartment complex by Dally Homes opened last week in this city's Downtown retail core, and an Irvine, CA-based investment group has bought a 382-unit complex here for $24.5 million.
DENVER-The company that primarily owns multifamily rental properties in Phoenix, Portland, Riverside, CA; Sacramento, Salt Lake City and Seattle pays $7.5 million for the 185,616-sf Northglenn Service Center.
CHICAGO-Those in the assisted-living and limited-service hotel markets have been having a difficult time obtaining financing. But certain retail products as well as office buildings are getting a wary eye from lenders.
NEW YORK CITY-The REIT has purchased a 452-unit multifamily in Bayport, NY for $39 million and sold a Dansville, NY property with 82 units for $2.5 million. Proceeds from the sale will be invested in the acquisition, which will undergo a $2.9 million upgrade.
ORANGE COUNTY, CA-A recently released survey by the California Association of Realtors names the county as the least affordable region in Southern California to buy a house.