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Volume 4 - Number 24 | November 28, 2006
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TOP STORY: Colonial Properties Shifts Focus to Apartments
By Sule Aygoren Carranza
Colonial Properties Trust plans to shift its business away from other property segments to focus more on multifamily. The locally based REIT intends to sell most of its wholly owned office and retail assets during the next six to 12 months into a series of joint ventures it will manage. It will also sell other properties outright.
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Data Points: Buyer Composition Shifting as Activity Slows
By Sule Aygoren Carranza
Investment activity in the multifamily sector continued to slow in October, according to Real Capital Analytics’ latest Capital Trends Monthly report. Sales volume for garden-style communities fell 6% during the month, while volume for mid- and high-rise properties spiraled down 86%.
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REM Goes Green With Major Editorial Initiative
By John Salustri
With a 50% potential short-term growth rate in the commercial sector, green building is on the radar of building owners, developers, architects and users. Real Estate Media tackles the issue in a major multi-tiered initiative.
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Deal Watch: Bascom Nails $122M to Refuel, Start Rehabs
By Amy Wolff Sorter
Bascom Arizona Ventures LLC has obtained approximately $122.1 million to replace its capital and allocate funds to upgrade the 2,913-unit multifamily portfolio. About $30 million will be directed toward property improvements.
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