News
HUNGRY FOR APARTMENTS
September 7, 2011
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| Marcus & Millichap's Ken Wellar says that institutional money has “aggressively†pushed Class-A apartment complexes into a five cap range. “There's starting to be more product coming to market,†Ken says, including distressed note sales such as the recent Resource Real Estate acquisition of The Iroquois and the School Lane House apartments. He says occupancy and rental rate bumps are being fed by improved fundamentals, including young professionals. |
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| Sometimes a Philly company's client takes it overseas. Waaay overseas. In this case, Philadelphia-based architectural firm EwingCole has been tapped by the US Army Corps of Engineers to design a new hospital at Bagram Airfield in Afghanistan. The 71k SF medical facility (rendered above) will include intensive care, a surgical suite, radiology, a “contingency aeromedical staging facility,†and offices. Delivery: 2013. |
