Local firm in on Birmingham apartments acquisition
Posted on November 19, 2009 at 10:50 am
Low-profile investment firm Carter-Haston has partnered with an Ohio company to acquire a 414-unit apartment complex on the south side of Birmingham. The two companies paid Colonial Properties Trust almost $25 million for the 15-year-old property.
permalink | Comment on this post
Two local firms in Knoxville apartment deal
Posted on November 17, 2009 at 12:31 pm
Josh Flory reports that First Management Services has paid fellow Nashville development company Covenant Capital more than $6 million to buy out its stake in a West Knoxville apartment complex.
permalink | Comment on this post
‘Boro developer planning Chattanooga apartments
Posted on November 16, 2009 at 11:19 am
The arrival of Volkswagen and Wacker Chemie in the Chattanooga area has Tim Keach optimistic about the city’s growth path. His TDK Construction will build a 199-unit luxury apartment complex there worth about $16 million.
permalink | Comment on this post
Apartment rents to slide further
Posted on November 2, 2009 at 7:47 amData from the National Multi Housing Council shows the apartment market finding its feet, but observers don’t see price support coming soon from the job market.
permalink | Comment on this post
How apartment owners will react to the housing crash in 2010
Posted on October 11, 2009 at 9:44 pmThe short answer: Cut prices and cross their fingers the new-homebuyer tax credit doesn’t get extended. On the flip side, those property owners with cash to spare can expect to find some deals.
Willett said that “You certainly have not seen these distressed assets come to the market at the pact they were expected to. You are going to start seeing those regional banks go out of business at a reasonably fast pace and it is going to push those assets out there.”
BRT’s Nashville apartment bill
Posted on August 7, 2009 at 12:57 pmNew York-based REIT BRT (Ticker: BRT), which took possession of six local apartment complexes after its client, Steven Green, was sent to prison, says it had to take a $7.8 million loss on the sale of those properties.
permalink | Comment on this post
Locals buy Florida apartments
Posted on June 12, 2009 at 8:43 amNashville-based Covenant Capital has spent $13 million to buy a complex on Jacksonville’s south side.
permalink | Comment on this post
A buyer spots apartment deals
Posted on February 19, 2009 at 12:49 pmNorth Carolina’s Spectrum Properties plans to invest up to $500 million to buy regional apartment complexes on the cheap.
“Our objective is to purchase properties at very attractive pricing, manage them intensively during a three to seven year holding period and then sell them for a substantial profit that produces a handsome return for our investors,” said Gray.
Ahh, old-fashioned capitalism still lives.
permalink | Comment on this post
Owner of ‘Boro apartments files for Chapter 11
Posted on January 12, 2009 at 12:59 pmNew York-based Tarragon says equity investors will get nothing from a reorganization that aims to “structure a consensual plan with our creditors structured to enable Tarragon to preserve the value of its property management and development platforms.”
Tarragon (Ticker: TARR) first ran into financial problems in the summer of ‘07. The company now owns two apartment complexes in Murfreesboro, but used to also own other local properties. It also developed Belle Park in Belle Meade.
permalink | Comment on this post
Sell high, buy back low
Posted on December 25, 2008 at 4:01 pmNice doing business with you: Almost three years after selling a Tampa apartment complex to Crescent Resources for $27 million, West End-based Carter-Haston has bought it back for 42 percent of the price.
Recent Comments
In our good state a select few run the place, 20 yrs ago and today....
Southernindie…Unfortunat ely you have suffered a dibilitating...
And…Karl (Marx) Dean is spending one billion dollars...
Someone explain the difference between short stay and observation...
Watching the Chairman of Starwood Hotels yesterday on CNBC...
Funny how the Union’s feel about taxes. They complained about their...
Where is it?
An absolutely ugly structure, which I have always thought did not take...
Too bad that ATT changed the look of the building so that it no longer...
Yeah, well, look at the TN Legislature of good ol’ boys and the...
As long as the red rules, we will be far behind other states. The GOP does...
Nissan CEO Carlos Ghosn: I don’t know what...