Integra Realty Resources July news: Northeast multifamily properties on the rise, luxury developments in the Caribbean, and a new CEO
Aug 8, 2013
The month of July had Integra Realty Resources experts talking about everything from the Caribbean housing market to the valuation of small-market properties. Not to mention the appointment of the new CEO. Here are the highlights:
Multi-Housing News: Philip Shea at Multi-Housing News included commentary from David Cary, senior managing director of the Boston office, on Boston’s shift toward multifamily properties and why he foresees this trend continuing. According to David, developers are constructing thousands of units in the greater Boston area to meet demand from young professionals flocking to the region. Class A products aren’t the only properties up for grabs; students are scooping up older multifamily buildings as well.
World Property Channel: In an interview with the World Property Channel, Caribbean managing director Jim Andrews discussed the upswing in luxury property developments in the Caribbean and what that means for the home market. Jim noted that mid-market homes with limited amenities suffered the worst during the Great Recession. As European markets dip, regions that depend heavily on European buyers, such as Barbados, are also struggling. That being said, there are major construction projects underway to lure in foreign buyers.
GlobeSt.com: Reporter Rayna Katz announced the appointment of John Albrecht as Integra Realty Resources’ new CEO. In this position, John plans to expand IRR into other markets. Real Estate Bisnow also announced John’s new position in its regional editions.