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Foxcroft Terrace Apartments , now rebranded as Forest Creek Apartments " width="300" height="175" /> Foxcroft Terrace Apartments , now rebranded as Forest Creek Apartments By Evelina Croitoru Rittenhouse Realty Advisors has struck a deal to dispose of the Foxcroft Terrace Apartments in Darby, Pa. The 82- unit community traded for $5.4 million, which translates to almost $66,000 per unit. The new owner will operate the residential asset as Forest Creek Apartments . “ This is the third apartment community we have sold to this buyer in the last year. He is very bullish in the Southeast Delaware County market and has added over 300 units to his portfolio from this area alone ,” RRA’s Managing Partner Ken Wellar said in a prepared statement. Located at 300 N. Front St. Yeadon, the property features two-bedroom units, some of which with balconies. The apartments also offer hardwood and tiled floors. The three- story building completed in 1974 is close to th...

Competition for housing is soaring, affordability is weakening and the U.S. housing recovery is grinding to a crawl — and, in large part, the baby boom generation is to blame. No, they're not doing anything immoral or illegal; in fact, they're not doing anything at all, and that is precisely the problem. They're not moving. Baby boomers, the enormous group born between 1946 and 1964, are staying in their big suburban homes far longer than previous generations did at this age, and that is having repercussions down the housing supply line . If baby boomers don 't downsize out of big suburban homes , younger buyers eager to upsize, especially in this improving economy, can't find a home to buy. As the competition from young millennials heats up at the entry level, the logjam at the top of the market only heats that competition and pushes prices ever higher and out of reach. So, why don't boomers move? Some if it is because their empty nests have filled back u...

Mack- Cali Realty Corp . (NYSE:CLI) Q2 2017 Earnings Conference Call August 03, 2017 08:30 AM ET Executives Michael DeMarco - President and Chief Executive Officer Anthony Krug - Chief Financial Officer Marshall Tycher - Chairman of Roseland Residential Trust Analysts John Guinee - Stiefel Manny Korchman - Citi Jamie Feldman - Bank of America Rob Simone - Evercore ISI Vincent Chao - Deutsche Bank Operator Good day, everyone, and welcome to the Mack- Cali Realty Corporation Second Quarter 2017 Earnings Conference Call . Today's call is being recorded. At this time, I would like to turn the call over to Michael J. DeMarco, President and Chief Executive Officer . Please go ahead, sir. Michael DeMarco Thank you, operator. Good morning, everyone, and thank you for joining the Mack-Cali's second quarter 2017 earnings call . This is Mike DeMarco, the CEO of Mack-Cali. The lovely day in a waterfront, sun shining. I'm joined today by my partners Marshall Tycher , Chairman of Rosel...