Mig Real Estate Acquires 240-unit Pine Creek Ranch Community In Houston

Pine Creek Ranch represents MIG Real Estate’s third investment in Texas multifamily properties, following its investment in The Cottages in Austin in 2012 and Wynhaven at Willowbrook in Houston in 2012. David Oelfke of ARA Real Estate Investment Services represented the seller in the transaction. MIG Real Estate represented itself.Greystar, a national operator with a significant presence in the Houston market, will manage the property for MIG. About MIG Real Estate MIG Real Estate owns and operates a diverse portfolio of assets in Phoenix; Las Vegas; Denver; Seattle; Tampa; Hawaii; Edmonton; Jackson, WY; and multiple markets in California and Texas. The Company is currently engaged in an aggressive expansion strategy, seeking “core-plus,” “value-add” and “opportunistic” investments in select-service hotels, grocery-anchored shopping centers, office, industrial and multi-family properties. MIG Real Estate has acquired over 5.8 million square feet of property, totaling more than $800 million of assets since April 2009.
For the original version including any supplementary images or video, visit http://finance.yahoo.com/news/mig-real-estate-acquires-240-131000087.html

<h3 click here style=”clear:both”>Swedish Residential Real Estate Overvalued 25%, S&P Says

Looking at the crisis in the early 1990s, prices rose much faster than incomes before there was a correction, Ekbom said. Looking at the situation now, prices have gained more than the increase in disposable income, even though real income has had a good development. Sweden has taken a raft of measures to stem growth in mortgage lending and house prices amid concerns a bubble is developing. The steps include limiting mortgages to 85 percent of property values and tripling risk-weighting, or the cash banks must set aside to protect against mortgage defaults. While the steps have helped slow loan growth, house prices are still surging and consumer debt has risen to a record high of more than 170 percent of disposable income, according to central bank data.
For the original version including any supplementary images or video, visit http://www.bloomberg.com/news/2013-09-26/swedish-residential-real-estate-overvalued-25-s-p-says.html

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