Apartment City

Lake Village Apartments is one of two Ann Arbor complexes bought this month in a record- setting deal involving The Habitat Co. Chris Asadian | AnnArbor.com Two of Ann Arbor ’s largest commercial properties were bought for a combined $85.7 million this month by an entity of the Chicago-based company that had been managing them. The Habitat Co. LLC acquired Windemere Apartments and Lake Village of Ann Arbor from Northwestern Mutual Life Insurance Company . The deals set records in the Ann Arbor market for the price paid per unit, signaling local impact of the national multifamily market experiencing a rebound. Sources said the Windemere deal is a record $92,083 for the 1980s-era property on the city’s north side near Nixon Road. And the Lake Village deal , at $115,277 per unit in the complex on South Main Street , is the highest in the market, based on information available to Habitat, said Matt Fiascone , senior vice president of finance and investment. “We think it’s the high...

With SoCal rents rising , developers are busy building apartment communities , particularly in Los Angeles. L.A. remains among the top 10 least affordable housing markets in the nation. Rents climbed to $2,054 in January, way above the national average . Ballooning home prices have made home-ownership more difficult, and in turn put downward pressure on apartment vacancy rates . Despite the issues with affordability and the growing amount of lifestyle supply, we expect continued strong demand . The pronounced need for housing has resulted in a construction boom, and there are no signs of slowing down. At this point, everyone is trying to get a slice of the action, buying and building along the way. According to Yardi Matrix data , these are the top 10 owners in the Los Angeles market , based on unit counts. 10. Aimco Palazzo East at Park La Brea Aimco, or Apartment Investment Management Co., is among the largest owners and operators of apartment communities in the United States. T...

The Howard Hughes Corporation (NYSE:HHC) Q2 2017 Earnings Conference Call August 8, 2017, 10:00 AM ET Executives David Striph - Executive Vice President , Investor Relations David Weinreb - Chief Executive Officer Grant Herlitz - President David O’Reilly - Chief Financial Officer Peter Riley - General Counsel Analysts Alexander Goldfarb - Sandler O’Neill Robert Majek - CJS Securities Will Randall - Citigroup Waheed Khorsand - BWS Financial Alex Barron - Housing Research Center Steve Shaw - Compass Point Operator Good morning. And welcome to The Howard Hughes Corporation Second Quarter 2017 Earnings Conference Call . All participants will be in a listen-only mode. [ Operator Instructions ] After today’s presentation, there will be an opportunity to ask questions. [ Operator Instructions ] Please note, this event is being recorded. I would now like to turn the conference over to David Striph, Executive Vice President , Investor Relations . Please go ahead. David Striph Good morning. A...

BARCELONA, Spain — The Latest on the Spain attacks (all times local): 5:15 a.m. Australian Prime Minister Malcolm Turnbull has asked people to pray for a young Australian boy who is missing after a vehicle attack on a popular Barcelona promenade that killed 13 people. Turnbull said Saturday that the boy's mother was badly injured and is in a hospital following Friday's attack at the Las Ramblas promenade . Turnbull says the boy's family is searching for him. He did not release the boy's name. Turnbull says: "All of us as parents know the anguish his father is going through, and his whole family is going through, as they rush to seek to find him in Barcelona." Australian Foreign Minister Julie Bishop says four Australians were injured in the attack. ___ 2:35 a.m. Police in Catalonia say they have searched two buses in their hunt for violent extremists believed responsible for a pair of deadly attacks in the northwestern region of Spain. Police say on the...