Multifamily

DENVER-The median price of a condominium has remained unchanged in the past year, "not bad for a 'collapsing market'," agent Jerry McGuire tells GlobeSt.com. That can be read as a sign of stability for the commercial market, brokers say.

SAN FRANCISCO-Approvals have been doled out recently for a handful of senior and assisted living centers in the Northern California region. One of the projects will convert a San Francisco theater for housing. Three others will be built from scratch.

ATLANTA-Post Properties and the New York State Common Retirement Fund put the finishing touches on a $75 million joint venture to develop Post's first apartment complex venture in Southern California.

TARRYTOWN, NY-In the largest real estate sale in Westchester County so far this year, Equity Residential Properties Trust has acquired the Talleyrand Crescent rental townhouse community here from an affiliate of Cappelli Enterprises of Valhalla for $61 million.

CHICAGO-Not only does the Downtown condominium market force Heartland Properties to make Phase II of Kinzie Station a rental property, it also decimates the REIT's third-quarter net profit as sales of units stall.

ATLANTA-With a $33.5 million bid, Empire won out over 25 competitors for the 21-year-old, 608-unit, 90%-leased Northridge Lake Apartments in suburban Dunwoody/Sandy Springs.

DENVER-While admitting "uncertainty for the remainder of 2001 and for 2002," Apartment Investment and Management Co. says it expects third-quarter funds from operations to be up 5.7%.

SANTA MONICA, CA-A private partnership acquires 30-unit development in the seaside community of Santa Monica. The multifamily market remains tight, with little new construction and tenants still willing to pay extra to live near the ocean.