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LOS ANGELES, CA - JRK Property Holdings has acquired Clover Creek , a 504- unit apartment community in suburban Chicago in a transaction brokered by HFF.Built in 1986, Clover Creek is located in Lombard, IL, a premier suburban Chicago submarket in the heart of DuPage County, 30 minutes west of downtown Chicago.   Clover Creek also benefits from its proximity to the Illinois Technology and Research Corridor (ITRC), one of the principal economic centers in suburban Chicago and the home to the headquarters of seven Fortune 1,000 companies.   Clover Creek is located 10 miles west of the ITRC along I-88.  Clover Creek offers a variety of one-, two- and three- bedroom floor plans in seven, four-story and two, two-story buildings on a low-density 34-acre site.   Common area amenities include a swimming pool, playground, soccer field, volleyball court, bark park, and clubhouse with Internet café, fitness center and business center.  With approximately 60% of units still in origina...

SEATTLE, Aug. 24, 2017 /PRNewswire/ -- Home values are setting new records in about half of the country's largest metros, and the national median home value is now $4,100 more than it was in April 2007, just before the market crashed , according to the July Zillow® Real Estate Market Report(i). Home values in Denver, Dallas and San Jose have appreciated most beyond the previous record-highs set at the peak of the housing bubble in the mid-2000s. Homes in Denver are almost 60 percent more valuable now than during the bubble, increasing from a median home value of $235,900 in April 2006 to a current median home value of $371,100. When the housing market crashed , home values plummeted and it has taken about 10 years for home values to reach new record highs. Strong labor markets and steady income growth have pushed up home values in the nation's hottest markets more quickly than in others. Among the 35 largest housing markets , 15(ii) have higher median home values than ...

Blackstone Group has sold a big apartment complex in west suburban Lombard for $67.4 million, notching a solid gain about two years after buying it. The New York private equity firm sold Clover Creek , a 504-unit property at 830 Foxworth Blvd., to JRK Holdings, a Los Angeles- based investment firm , according to DuPage County property records . The price, which amounts to $134,000 a unit, is 24 percent higher than the $54. 1 million Blackstone paid for the complex in March 2015. Rising rents and occupancies have pushed up suburban apartment values the past several years, allowing investors to cash out of properties at higher prices than they paid. But that alone doesn't explain the jump at Clover Creek. BOOSTING VALUE Blackstone increased the value of the complex by renovating a bunch of its apartments. Then it raised rents on the rehabbed apartments, boosting the property's income and justifying the higher price. After fixing up 72 apartments at Clover Creek, it hiked rent...

Name: Matt Casper and Ted Dorsey Location: Echo Park — Los Angeles, California Size: 2,132 square feet Years lived in: 6 years, owned Going to a dinner party at Matt and Ted's is probably the grown-up equivalent of going to Disneyland. While their dining room alone makes the Haunted Mansion look like child's play, every room in the house possesses its own unique design that feels both sophisticated and fun. From an office filled with fake pine trees to a New Mexico- inspired guest room , the fun themes throughout their historic craftsman are tasteful, eclectic, and provide the perfect kindling to ignite hours of good conversation . Both Matt and Ted spend a great deal of time writing and working from their home offices, each of which has its own unique aesthetic. Matt is a licensed psychotherapist and writer who has written a series of books, Emotes, to help children better understand and manage emotions. He chooses to do most of his work from the "forest" room,...

Waldorf Astoria Beverly Hills recently opened ." width="580" height="326" /> The Waldorf Astoria Beverly Hills recently opened .  (Photo: Waldorf Astoria Hotels & Resorts)   The U.S hotel industry reported positive year -over-year results in three key areas during the last week of July. Occupancy rates were up 0.3% to 77.4%. The average daily rate reached $132.21, an increase of 1.2% over the same week last year. And revenue per available room was up 1.5% to $102.39. That’s all based on the latest data from research firm STR for the week of July 23 to July 29. Hoteliers moved into August feeling optimistic , with a slate of new openings, renovations and other updates. First new Waldorf Astoria on the West Coast opens The iconic Waldorf Astoria New York may be closed for renovations for the next few years, but the luxury brand has moved to the West Coast. Waldorf Astoria Hotels & Resorts, Hilton’s luxury brand, opened the Waldorf Astoria Beverly ...

A new study maintains that two-thirds of Denver renters plan to move to another city, a figure higher than the national average, with most listing high rent costs in the Mile High City  as the main reason. At the same time, however, so many people from other places want to move here that the actual number of renters in Denver is likely to remain steady in the near future and could actually rise. These are among the findings in a provocative report from Apartment List. As laid out in the following Q&A with analyst Sydney Bennet , who was heavily involved in the project, renting Denverites have a variety of reasons for wanting to relocate. But the number of those who are considering such a move because of long commute times or concerns about safety, for instance, pale in comparison to folks who simply are having a hard time stretching their dollars far enough to keep a decent roof over their head. As the study notes, the 67 percent of Denver renters who are looking at other lan...

AMLI sells luxury apartments in Miramar to Boston investment manager for $82M Rents started at just under $2,000 a month for a one-bedroom unit By Katherine Kallergis | July 18, 2017 11:15AM Miramar Park Chicago- based AMLI Residential just sold a luxury apartment community in Miramar for $82 million, or about $273,000 per unit. Property records show PPF AMLI Miramar Boulevard LLC sold Miramar Park to Bel Miramar LLC , a company tied to Boston- based investment manager Eaton Vance Management . AMLI completed the 300- unit rental development at 11000 Miramar Boulevard in 2015. Units range from 840 square feet to nearly 1,500 square feet, according to its website. Amenities include a pool with cabanas, house bar and outdoor grills, a fitness center, yoga studio, clubroom, bark park and pet spa, lily pond, sculpture garden and more. Rents started at just under $2,000 a month as of July for a one-bedroom unit. Apartments feature granite countertops , designer tile or wood floors an...

Lake+Forest A joint partnership between Wood Partners, LLC and Chicago-based Golub & Company recently broke ground on a 1.6-acre, 270- unit luxury rental community in Oak Park, Ill. Lake + Forest consists of a 21-story, 240,000-square- foot building located on Forest Ave. in the suburban village of Oak Park, and is designed by award- winning architecture firm Gensler . The building will occupy the site of a former city- owned parking structure , according to a news release. Lake + Forest will feature 124 one-bedroom units, 106 two-bedroom units, roughly 25,000 square feet of retail and office space facing Lake Street , as well as 288 private and 300 public parking spaces . Amenities include a fitness center, storage areas, a large outdoor deck , expansive hotel-quality lobby, and onsite car-sharing service. Each unit will feature stainless steel appliances , solid-surface countertops, vinyl plank flooring , floor-to-ceiling windows, washer and dryer, while select units will also...

Paul Bass | New Haven Independent Democrat Marcus Paca, left, and incumbent Mayor Toni Harp . Marcus Paca promised that if he becomes mayor, he will fight gentrification, while Mayor Toni Harp argued that the burst of market-rate housing in town doesn’t constitute gentrification. Harp promised to continue New Haven’s “sanctuary city” policies even if President Trump withholds federal grants , while Paca promised to take a closer look at the issue first to avoid losing needed dollars . Those differences between the two Democratic mayoral candidates emerged Sunday afternoon at their first debate, held before a full house in the sanctuary of Varick Memorial AME Zion Church on Dixwell Avenue. The event was billed as a “forum,” not a “debate.” But a debate it turned out to be, from the moment the two Democrats began fielding questions from a panel of three local ministers and passionately responded to each other’s positions in a fast-paced, issues-focused back and forth. Two- term incu...

Large fire breaks out in Hagerstown apartment building The fire broke out in the Hagerstown area of western Maryland about 70 miles northwest of the District of Columbia. The fire marshal's office says no injuries have been reported, and all 74 residents have been accounted for. Roku's Market Share Lead is Growing The company can form partnerships more easily because it doesn't promote specific content or platforms, the firm said. Its market share is up from 33 percent in the first quarter of 2016 to 37 percent in the first quarter of 2017. Rod Stewart to perform remotely on MTV Video Music Awards His new version updates the song for a new generation with DNCE , which Jonas formed a couple years ago . Stewart is now working on his first album since 2015's Another Country . New US sanctions against N. Korea could bite Earlier this month, US President Donald Trump threatened Pyongyang with "fire, fury ... the likes of which this world has never seen". ...

MIDLAND, TX - Stoneleigh Companies, LLC announced the acquisition of two existing apartment properties in Midland, Texas: the 278 unit apartment project called Waterford Lakes Apartments ; and the 200 unit apartment project called Waterford at North Park. The properties are the eleventh and twelfth multi-family projects acquired/developed by Stoneleigh in the past three years and follow the Waterford Ranch acquisition in 2011 in Midland. Rick Cavenaugh, President of Stoneleigh, stated “Waterford Lakes and Waterford at North Park Apartments (formerly The Lakes and Windscape) affirm our commitment to Midland, Texas. The properties were rebranded at closing and will be managed by Waterford Residential , our affiliated property management division . Acquisition financing was provided by KeyBank N.A. through two bridge loans. We intend to close on a KeyBank - Freddie Mac CME loan in January 2013 and will bring our FMAC financed portfolio to nine projects.” James O...