Some Nearby States & Counties Commercial Real Estate News

South Side Pittsburgh Community Wants Proposed $1B Casino Development DEVELOPMENT The South Side Local Development Co. in Pittsburgh has endorsed a proposal by Cleveland-based Forest City Enterprises and Harrah's Entertainment in Las Vegas to develop the South Side's Station Square into a $1 billion gaming enterprise. - July 20, 2006
http://www.cpnonline.com/cpn/specialties/index.jsp


Village Green Completes Recent Expansion of Presence in Midwest
By Keat Foong, Executive Editor
JULY 21, 2006 -- Farmington Hills, Mich. -- Village Green Cos. has finalized its joint ventures with two companies, bringing its apartment management portfolio to more than 38,000 units.
http://www.multi-housingnews.com/multihousing/headlines/article_display.jsp?vnu_content_id=1002877307


Insiders Offer Remedies for Troubled Properties
By Maria Siakavellas, Contributing Editor
JULY 01, 2006 -- Some of the most attractive and rewarding multi-housing industry experiences are those that enable investors and developers to uncover a diamond in the rough. But the repositioning process is most certainly not for the faint of the heart. Experience, discipline and across-the-board cooperation are essential to a successful turnaround and getting all those components together can be more difficult than it may often seem.
http://www.multi-housingnews.com/multihousing/reports_analysis/feature_display.jsp?vnu_content_id=1002728778

Rent, Occupancy Increases Seen for Cleveland Apts.
The average asking monthly rent for Cleveland apartments will increase to $700/ month this year, a 1.7 percent gain from last year's average monthly rent of $688, according to a forecast from Marcus & Millichap. Cleveland's apartment vacancy rate is expected to drop two-tenths of a percentage point to 6.4 percent in 2006. The median sale price of Cleveland apartments rose 8 percent to $33,050/unit last year. - Via LOOPNEWS



Major Interest Rates
21-Jul-06
Last
bps
5-Year Treasury
5.02%
-8
10-Year Treasury
5.06%
-7
IR Swap 5-yr
5.62%
-4
IR Swap 10-yr
5.70%
-3
USD 1M LIBOR
5.385%
-2
USD 3M LIBOR
5.485%
-3