Multifamily

SEATTLE-Rising vacancies, falling rents and a prediction for net-out migration in Seattle this year. A study just released by Paragon Real Estate Advisors says the downtown apartment market may be overbuilt--for the first time ever.

WESTMINSTER, CO-A 12-acre site is the last large, undeveloped piece of ground in the 30-year-old Ranch community. Principals from the Vintage Marketing Group and Loup Development, including US Ambassador to the Vatican Jim Nicholson, are involved in the project.

CHICAGO-The plan commission punches CMC Heartland Partners III, LLC's ticket for a 1,694-unit residential development with more than 50,000 sf of retail space, including a Jewel food store to serve a booming neighborhood northwest of the Loop and commuter rail terminals.

ATLANTA-The locally based apartment REIT posted funds from operations of $33.7 million, excluding a $17.5 million severance and impairment charge. That compares to FFO of $41.7 million for fourth quarter 2000, excluding a $9.4 million charge.

MIAMI-The New York developer and the Sunny Isles Beach, FL father-son team plan to break ground Feb. 9 on Trump Palace, a 47-story, 267-unit luxury condominium tower--the second of a three-phased, 972-unit venture along Miami Beach called Trump Grande Ocean Resort and Residences.

RANDALLSTOWN, MD-The Carriage Hill Apartments will continue to undergo its rejuvenation process with the assistance of a $36 million refinancing loan from Arbor Commercial Mortgage. Owner Sawyer Realty Holdings take on the 10-year loan at a rate of 7.11%