GE Invests $18M in Two Apartment Complexes

ALLEN, TX-GE Real Estate of Norwalk, CT has made an equity investment of $17.8 million with partner BH Equities to acquire two adjacent Class A multifamily assets located in this newly developed community 12 miles north of North Dallas. These new North Dallas real estate properties are Benton Pointe, a 456-unit, three-story garden apartment complex at 425 Benton Dr., and Lansbrook at Twin Creek, a 288-unit, two-story garden apartment complex at 505 Benton Dr.

Builder Features Fixed-rate Financing

Ryland Homes is offering savings on select homes throughout the metroplex such as the Northeast Dallas real estate market . Buyers who purchase a home ready for quick move-in will save, in addition to receiving a 5.25 percent interest rate on 30-year fixed-rate financing, says marketing manager Melissa Finley. This special financing is available only to qualified buyers who purchase one of Ryland's select quick move-in homes in the month of March and finance with Ryland Mortgage, she says.

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Sealy's $150M-Plus Plan Ready to Get Under Way

Sealy & Grant LP will be under way by month's end on infrastructure for 55 of its 82 acres in far north Dallas. The plan is to break ground in August on the first of three 180,000-sf value-office buildings for Palomino Crossing, a $150-million to $200-million development of "green" office and retail.

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Valley View Center Mall Has Shot at Renewal after Macy's Closing

Changes are in store for Dallas' venerable Valley View Center, which opened 35 years ago at Preston Road and LBJ Freeway and this weekend saw the closing of its Macy's anchor store.

Like Valley View, malls across America are being redeveloped and reimagined amid a wave of department store closings. Macy's has closed more than 75 stores since its 2005 acquisition of its biggest competitor, May Department Stores.

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Foreclosure Bus Tour Gives Homebuyers a Different View of Shaky Real Estate Market

The half-day tour includes stops at eight or nine homes reclaimed by banks during the recent wave of North Texas foreclosures. The homes range from extreme fixer-uppers to spotless new abodes with granite countertops and media rooms.

"It gives you a different perception of the foreclosures," Demetria Newkirk, a Carrollton city employee, said Saturday after viewing an elegant two-story North Dallas home recently marked down from $1.1 million to $795,000.

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In Dallas-Fort Worth Market, No Flood of Homes for Sale

"Unlike many other areas of the country, the North Texas home market hasn't seen a flood of properties for sale in recent months.

In February, the number of homes offered through the Realtors' multiple listing services dropped 1 percent from a year ago. And the number of listings added to inventory last month was down 7 percent from last year, the North Texas Real Estate Information Service reported Friday." The Dallas Morning News(March 07, 2008)

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Commercial Sales Fell in 2007, Too

Local home sales weren't the only area of decline in 2007. Sales of commercial properties fell in Dallas and Tarrant counties, according to a research by Addison-based Roddy Information Service.

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