Multifamily

LOS ANGELES-Jeffrey Tamkin, president of Los Angeles-based Tamkin Development, tells GlobeSt.com that most colleges now see student housing more as a marketing tool for attracting new students to their campuses than as a sheer revenue generator.

DALLAS-Higher returns, parental guarantees on rent and a steadily increasing tenant base make off-campus, shared-living projects a windfall for those who can afford to develop. Rent by the bed, not unit, is the premise.

SAN DIEGO-Sales of apartment projects were brisk through September as average monthly rents eclipsed the $1,000 mark countywide. Apartment sales through the first nine months of the 2001 were up 9% from a year ago, mostly due to a strong first half of the year, according to Burnham Real Estate Services.

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.