Residential Real Estate News - Residential Real Estate News Headlines | Bizjournals.com

Milwaukee apartments sell for $11M in Chapter 11 reorganization

Fox Point landlord Daniel Bruckner sold two Milwaukee sites to Jomela Properties for $11.1 million and will use the money to pay off debts in his Chapter 11 reorganization. Bruckner in January filed for Chapter 11 reorganization, listing more than 30 different properties under his ownership in Milwaukee and surrounding communities. They had a combined value of nearly $54.4 million. Major mortgage holders on his properties include Fannie Mae, Waterstone Bank, North Shore Bank and Westbury Bank, according...

full story >>

South Bay unemployment rate numbers down for April

The unemployment rate for the San Jose-Sunnyvale-Santa Clara metropolitan statistical area was 8.4 percent for April, down compared to 9.3 percent in March. This compares to 9.8 percent a year ago. Sectors adding jobs included leisure and hospitality, professional and business services, government jobs, manufacturing, trade transportation, and utilities. The area also includes San Benito County. For the San Francisco-San Mateo-Redwood City area, the unemployment rate was 7 percent for April, and...

full story >>

Lodge at Castle Pines sells for $50M

For the second week in a row, a huge apartment complex deal dominates the Real Deals headlines, this one a little farther south from Parker. Advenir, a Florida-based multifamily asset owner and management services company, bought the Lodge at Castle Pines apartment complex, 520 Dale Court, Castle Rock, for $50.85 million. “We think this is a great market to be in,” said Stephen Vecchitto, managing director. “It’s a higher-end marketplace, there’s barriers to entry and we just love the...

full story >>

Realtor Building reopens after copper theft

The Realtor Building reopened for business Friday following a copper theft. The building at 1635 University Ave. NE, which houses the Greater Albuquerque Association of Realtors and the Commercial Association of Realtors-New Mexico, was closed Thursday because thieves had stolen copper wiring that impacted the power supply. The wire was stolen from an exterior electrical box. Getting the building’s power restored took an electrical contractor and a Public Service Co. of New Mexico crew. Albuquerque...

full story >>

Houston residential real estate firms jump up transactions list

Martha Turner Properties and Heritage Texas Properties have moved into the top five on this year’s Houston Business Journal Largest Houston-Area Residential Real Estate Brokerage Firms list, ranked by 2011 transaction sides of closed sales. Martha Turner Properties moved from No. 7 last year to No. 4 this year, while Heritage Texas Properties moved from No. 6 to No. 5. The largest jump on the list by far was Better Homes and Gardens Real Estate Anderson Properties, which moved 13 spots from No....

full story >>

Houston residential real estate firms boost dollar volumes

Houston’s largest residential real estate firms increased their total gross dollar volume of closed sales in 2011 compared to 2010. All of the top five companies on the Houston Business Journal list of the Largest Houston-Area Residential Real Estate Brokerage Firms, ranked by 2011 total gross dollar volume of closed sales, increased their total gross dollar volume but retained their rankings from the previous year. No. 1 Prudential Gary Greene Realtors had the largest dollar volume increase,...

full story >>

Pronghorn Resort to join Auberge family

Auberge Resorts will manage Pronghorn Golf Club & Resort in a deal that will make the Bend-area project one of the region’s first five-star destinations. The Resort Group, a Honolulu-based investment group that acquired Pronghorn in February, signed a deal with Auberge this month to turn over management of the 48-suite lodge, restaurants and spas. Pronghorn’s new partner brings a deep knowledge of running high-end destinations. Its portfolio includes resorts in California, Colorado, South Carolina...

full story >>

Another new low for mortgage rates

Mortgage rates fell again this week, with 30- and 15-year fixed-rate mortgages touching new record lows. Freddie Mac's (OTC BB:FMCC) weekly rate report says 30-year fixed-rate mortgages averaged 3.79 percent in the week ending May 17, down from 3.83 percent the previous week. A year ago, 30-year mortgages were averaging 4.61 percent. A 15-year fixed-rate loan averaged 3.04 percent for the past week, down from 3.05 percent a week earlier. A one-year adjustable-rate mortgage averaged 2.83 percent,...

full story >>

American Realty Advisors buy luxe Farmers Branch apartment community

Illinois-based The Marquette Companies has joined California-based American Realty Advisors in a venture that has bought Portofino Luxury Apartments at 11601 Lago Vista W in Farmers Branch for an undisclosed sum. The 224-unit, four-story luxury apartment community will be held as an investment. "We see Texas as an area ripe with high-quality investment opportunity," said Darren Sloniger, managing director of acquisitions for The Marquette Companies, which will serve as the property manager of the...

full story >>

Campus Crest to add solar panels for student housing

Campus Crest Communities Inc. has teamed with SolarCity, a provider of clean-energy products and services, to install more than 9,000 solar panels on its student-housing communities in Greeley, Colo.; Flagstaff, Ariz.; and Las Cruces, N.M. The companies say the project will eventually provide 2.3 million kilowatt-hours of renewable power per year, offset electricity consumption at the communities by about 50 percent and eliminate more than 80 million pounds of carbon dioxide emissions annually. “Sustainable...

full story >>