Long before the first piece of limestone was laid for Rosario Candela’s 740 Park Ave., in 1929, it seemed as if the words “Social Register” were carved on every door on the Upper East Side. The grand apartment buildings of Fifth, Madison and Park avenues were large, expensive and protected by the most coldblooded of co-op boards. (If you didn’t like...

Investment management firm Bluerock Real Estate announced today that it has named Dr. Randy Anderson as President. Dr. Anderson joined Bluerock in March 2012 as a Managing Director and Chief Economist. Prior to Joining Bluerock, Dr. Anderson was a Founding Partner of Franklin Square Capital Partners, where he helped pioneer the industry’s first non-traded Business Development Company (BDC) for retail...

Bluerock Enhanced Multifamily Trust (BEMT) has announced its investment in a 24-story mixed-use luxury rental community known as the MDA City Apartments in downtown Chicago. BEMT partnered with the building’s owner, Village Green, a leading owner / operator with a portfolio of 40,000 units in 13 states, and a top-ranked property manager (CEL & Associates Survey). The property includes 190...

Bluerock Real Estate announced today that it has closed an $86 million construction loan with Starwood Property Trust, the nation’s largest commercial mortgage real estate investment trust. The funds will be used to construct a 31-story luxury condominium development known as “The Charles,” located on First Avenue between 72nd and 73rd streets in New York City. In anticipation of...

WASHINGTON, DC—Already exhibiting signs of recovery, the US industrial market could see as much as 150 million square feet of absorption this year. What’s more, next year’s take-up could hit 175 million square feet, according to the NAIOP Industrial Space Demand Forecast. Those figures represent increases of 50% and 75%, respectively, over the 100 million square feet of absorption the industrial...

Most people thought it might never happen, much less happen in five short years. The housing sector is back in the United States. After going through its darkest hour, people are buying houses again and investors are making money from dividends and capital gains. Last month in Dividend Opportunities, I discussed investing in KKR & Co. (NYSE: KKR) as a solid play...

A New York investor has acquired a majority stake in a 190-unit East Loop apartment building, one of several downtown multifamily deals completed in the waning days of 2012. The Bluerock Enhanced Multifamily Trust Inc. paid $9.8 million in December for a 56.5 percent interest in MDA City Apartments from a venture of the Village Green Cos., a Michigan developer that...

Bluerock Enhanced Multifamily Trust, Inc. (“BEMT” or the “Company”) today announced an estimated net asset value of the Company’s common stock of $10.04 per share as of December 17, 2012, based on independent appraisals of its real estate assets. The estimated per share value is based on the estimated value of the Company’s assets less the estimated value of the...

The Reserve at Creekside, managed by Hawthorne Residential Partners, has introduced a new level of apartment community living in Chattanooga. With its prime location just five minutes to the nearest shopping mall—and its wonderfully attentive staff—this community prides itself on being unique and welcoming. The Reserve at Creekside management often organizes summer pool parties (with the staff cooking out on the...

Bluerock Enhanced Multifamily Trust, Inc. (“BEMT”), announced today its investment in a 266‐unit Class A multifamily development project in the Berry Hill/Melrose neighborhood of Nashville, Tennessee, through a joint venture with Stonehenge Real Estate Group. The project, known as 23Hundred at Berry Hill, is BEMT’s second investment in the thriving Nashville market. Upon completion, which is slated for early 2014, the...