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Outside investors target tertiary markets for better yields

Local investors beware: Central Pennsylvania is on the map for outside groups looking for higher returns. Last month, The Solomon Organization , a New Jersey-based operator of multifamily properties, closed on a $25.7 million purchase of the newly built Ivy Ridge Apartments in Swatara Township . That price — $117,913 per unit — is the highest in the Harrisburg market this year. It also marked the company's first foray into the Harrisburg area after landing in Lancaster County six years ago. It owns six communities in Lancaster County and more than 1,200 units. "Two years ago, you said 'Harrisburg' and people would just hang up the phone," said Zachary Pierce, director of the National Multi Housing Group in Philadelphia for Marcus & Millichap Real Estate Investment Services . Outside investors were interested only in primary markets such as New York City and Washington, D.C., and maybe Philadelphia, he said. But as prices have shot up in those prime areas, th...

US Concrete's (USCR) CEO Bill Sandbrook on Q2 2017 Results - Earnings Call Transcript

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US Concrete Inc (NASDAQ:USCR) Q2 2017 Earnings Conference Call August 08, 2017 10:00 AM ET Executives Kevin Kohutek - Vice President and Chief Accounting Officer Bill Sandbrook - President and Chief Executive Officer Analysts Trey Grooms - Stephens Inc Adam Thalhimer - Thompson, Davis Scott Schrier - Citi Craig Bibb - CJS Securities Stanley Elliott - Stifel Nicolaus Roresa Mojo - D.A. Davidson Operator Good day, ladies and gentlemen, and welcome to the U.S. Concrete, Inc. Second Quarter 2017 Earnings Conference Call . [ Operator Instructions ] I would now like to introduce your host for today's conference, Kevin Kohutek, Vice President and Chief Accounting Officer . You may begin. Kevin Kohutek Thank you, Israh. Good morning, and welcome to U.S. Concrete's Second Quarter 2017 Earnings Conference Call . Joining me on the call today is Bill Sandbrook, our President and Chief Executive Officer . Bill and I will make some prepared remarks, after which we will open the call to your ...

100+ protesters fight to preserve Chinese Cultural Center in Pho - 3TV

PHOENIX (3TV/CBS 5) - The future of the Chinese Cultural Center located near Phoenix Sky Harbor Airport is up in the air and people wanted to show their support for the historical spot in the Valley. More than 100 people protested outside of the center on Sunday in order to help save the center. "It's a religious center , it's a cultural center and it's the last cultural center of the whole Valley," said Paul Gilbert, the attorney of those who want to preserve the center. A developer bought the area near 44th Street and Van Buren Street and there are fears that the center, especially the gardens there, might be torn down. However, it's unclear what the owner will do with the center. "We have been trying to meet with the new owner and we don't know what the new owner tends to with it," Gilbert said. He added that he has a meeting with the owner next week and hopes to get more information at that time. A Chinese architect helped build the ce...

KTGY Architecture + Planning Selected to Design Mixed-Use Development in Downtown Salt Lake City -- KTGY Architecture + Planning

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The innovative project looks to transform this downtown district through the infusion of a diverse set of programs that will provide activated street frontages and a variety of housing typologies at all levels of affordability. The Exchange LOS ANGELES - Aug. 25, 2017 - PRLog -- KTGY Architecture + Planning unveiled today the preliminary design for a new mixed-use development that was selected as part of Salt Lake City 's plan to revitalize its downtown core developed by The Domain Companies , one of the nation's leading real estate investment and development firms specializing in sustainable mixed-use development, and the GIV Group, which combines a non-profit and entrepreneurial approach to community development. Called The Exchange, the design envisions a pedestrian- and transit-oriented mixed-use district focused on innovation and includes "startup" micro-unit apartments, business incubator space , creative office space , affordable and market-rate apartm...