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HOUSTON-Hall Financial Group has sold the last of its Houston multifamily assets in an ongoing disposition of 16 older properties. The Forestree Apartments in the southeastern Houston suburb of Webster has been sold to a limited partnership.
HOUSTON-The 313-unit Chateaux Dijon Apartments at 16201 El Camino Real has changed hands. The class B property is one of several that has been transferred this year in negotiations by a CB Richard Ellis team of senior vice presidents.
CHANDLER, AZ-Chason Properties of Buffalo, NY acquires Lakeview at Octillo, its third multifamily puchase in the region in three years. Rent growth for apartments in Chandler had been among the best in the Valley in the first quarter.
SAN LEANDRO, CA-WP Carey Inc. owns the property, a parking lot here located on the corner of Williams Street and Doolittle Drive in San Leandro. City officials say they have been unable to agree with the owner on a sales price.
EULESS, TX-By week's end, Fairfield Residential will own or hold an option for the balance of the multifamily developable land in the 700-acre Villages of Bear Creek. Another signing is coming, GlobeSt.com has been told.
ORLANDO-C. Michael Collins, a longtime local banker and currently chief executive at the Bank of North Georgia in Alpharetta, an Atlanta suburb, takes over the operations of CNL Bank July 6 when another longtime local banker, William Beiler, heads for St. Petersburg, FL to become chief lending officer at Raymond James Bank.
LONDON-Office developer Akeler has announced plans to redevelop the 8.3-acre Scottish & Newcastle site in Reading, Berkshire. S&N has permission to build up to 365,000 sf of office space
OAKLAND, CA-Aaron Klien and Charlie Janda have completed a $2.8-million refinancing of their Lake Merritt-are apartment complex through Arbor Commercial Mortgage. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.95%.
ROCHESTER HILLS, MI-After a legal battle, a Troy developer receives permission to rebuild Meadow Brook Village Mall into a 375,000-sf posh The Village of Rochester Hills retail center on a 15-acre site.
NEW YORK CITY-Midtown South suffered the most, with an influx of more than 830,000 sf. The vacancy rate there hit 8.3% while Downtown and Midtown rose to 5.6% and 6.3%, respectively. Overall asking rents slipped $1.36 per sf.