Multifamily

TUCSON-Water Tower Development claims the class B Arcadia Gardens Apartments from DRA Advisors after another investor's contract fails to cross the finish line.

HOUSTON-Phillips Development cranks up work on the last phase of the $211-million condo project near Texas Medical Center. The next wave of condos will deliver in fall 2008.

WASHINGTON, DC-With 3,000 units of new product coming online, the District's historically low vacancy rate could soon start to rise.

NEW YORK CITY-The Angel Group sells the residential development site with buildable square footage up to 71,832 sf to Michael Kornblum of Manhattan.

MIAMI-The condo hotel project includes restoration of the 44-room Sovereign Hotel and construction of a 15-story, 67-unit condominium tower.

LAS VEGAS-The casino operator makes several personnel shifts in early preparation for the November 2009 opening of the company's $7.4-billion mixed-use development on the Strip.

It is more important than ever that property managers improve operational efficiency to enhance margins, cash flow and overall business performance.

DALLAS-On closing day, Advenir renames Heights of Lake Highlands and jumps into a $1.8-million renovation. The buyer is holding another contract in its bid to buy 4,000 units.