November 8, 2005 | Vol. 3 No. 22

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Volume 3 - Number 22 | November 8, 2005

TOP STORY: Morgan Stanley’s Prime Fund Takes AMLI Private in $2B Deal
By Sule Aygoren Carranza
New York City—Another multifamily REIT has been taken private. Just a few months after ING Clarion picked up Gables Residential, Morgan Stanley Real Estate’s Prime Property Fund has paid some $2.1 billion for AMLI Residential Properties Trust.

DEALWATCH: With $840M in Hand, JV Picks Up NYC Gem for Condo Conversion
By Sule Aygoren Carranza
New York City- Carlton Advisory Services Inc. has arranged an $840-million financing package for one of the largest multifamily deals in the US, the purchase and condo conversion of Manhattan House.

EPA Considering Changes to Brownfield Laws to Encourage Development in New Orleans
By Sule Aygoren Carranza
New York City—It’s been a number of weeks since Hurricane Katrina obliterated New Orleans and most of the Gulf Coast, and attention has now turned to redevelopment of the area. Thousands of homes and business were destroyed as much of the region sat underwater for several weeks, sometimes in petroleum- and waste-soiled water, increasing the risk of environmental contamination.

MARKET SPOTLIGHT: Despite Record Prices, San Diego Apartment Sales Slow
By Sule Aygoren Carranza
San Diego—Sales prices for multifamily properties here may be at an all-time high, but the volume of sales has fallen to its lowest point in a decade, according to a recent report by Burnham Real Estate ONCOR International.

DATA POINTS: Q3 Sales Volume Destroys Previous Records

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