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Volume 5 - Number 7 | April 10, 2007
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TOP STORY: GE Makes $256M Play for Direct Investments Group
By Sule Aygoren Carranza
In an all-cash deal, GE Real Estate picked up a portfolio of apartment communities in Dallas, Atlanta and Austin, TX for $256 million. It's the third portfolio acquisition the firm has made on behalf of the direct investments group of its North America equity division.
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Managers Bulk Up Portfolios, While Owners Pare Down Holdings
By Sule Aygoren Carranza
Apartment management firms expanded at a significant pace in 2006, while multifamily owners’ holdings remained relatively stagnant. Those are the findings of the recently released National Multi Housing Council’s 2007 Top 50 list.
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Deal Watch: Taconic Makes Second Major Borough Buy
By Sule Aygoren Carranza
In its second major purchase of middle-income housing in New York City’s outer boroughs in the past few months, Taconic Investment Partners paid $133 million for Eastchester Heights. Taconic teamed up with ING Clarion Partners to buy the Bronx complex.
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There’s No Stopping Manhattan For-Sale Unit Prices
By Sule Aygoren Carranza
Thanks to a strong local economy, record bonuses to Wall Street professionals and still-low interest rates, the median price for Manhattan apartments hit a record $770,000 in the first quarter, according to Halstead Property LLC.
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