Multifamily

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.

LONDON-The UK's booming market for houses and apartments is starting its slide into oblivion, according to mortgage bank Alliance & Leicester. Housebuyers are becoming increasingly nervous about taking on new commitments.

ANN ARBOR, MI-University of Michigan students will benefit from both complexes, which will have residential space at one and research facilities at the other. Students will work with residents, studying the effects of aging.

PHOENIX-Arcadia Villa Apartments LLC has realized more than $8.3 million for a 169-unit complex in the Camelback Corridor. A Minnesota investment firm's price bests in excess of $49,000 per unit.

The 241-unit Renaissance Plaza project, a public/private venture originally scheduled for delivery in July, will begin quietly letting tenants start moving in over the next few weeks.

MIAMI-The nation's second-largest homebuilder intends to occasionally issue the new securities primarily for acquisitions purposes.

LONDON-FPD Savills finds that 800,000 people face very limited household choices. A government commission reports that 43,000 extra homes will be needed every year for the next decade to alleviate the housing shortage.

LONDON-Fears Surrounding the imminent demise of the UK commercial property market may be hugely overstated, according to research released today by agency Knight Frank. The case for investment in commercial property still remains strong.