By Teresa O’Dea Hein, Managing EditorThe fallout from natural and man-made storms continues to swirl around us. Between the hurricanes and the continuing upheavals in the financial world, these truly are unsettled times. While I’d planned on writing about a different topic, yesterday’s historic plunge on Wall Street compelled me–and perhaps you, too?–to explore safe [...]

By Keat Foong, Executive Editor and Anu Kher, Online Editor Reno, Nev.—Like everyone else, multi-housing owners and developers are alarmed by yesterday’s plunge in the stock markets. “I am concerned,” said Bob Nielsen, president of multi-housing developer Shelter Properties Inc., and vice chairman and secretary of the board of the National Association of Home Builders. [...]

By Anuradha Kher, Online News EditorNew York–Some of the largest financial institutions in the United States have been merged, acquired or have filed for bankruptcy in the last couple of weeks. With yesterday’s rejection of the $700 billion bailout package, concern about availability of credit, which has already been scarce, has deepened further. While multifamily [...]

By Anuradha Kher, Online News Editor and Keat Foong, Executive EditorWashington, D.C.–Multi-housing groups regret the House’s rejection yesterday of the $700 billion package to provide the financial markets with much needed liquidity. While citizens across the nation appear so far to be opposed to what they see as the plan’s bailout of  Wall Street, multi-housing [...]

By Erika Schnitzer, Associate EditorNew York–Sales have begun at Two Northside Piers, a new 30-story, 270-unit waterfront condominium community in Brooklyn’s Williamsburg neighborhood. The tower, which is being developed through a joint venture of Toll Brothers City Living, RD Management LLC and L&M Development Partners, and designed by FXFowle Architects, is the second phase of [...]

By Anuradha Kher, Online News Editor, MHN and Barbra Murray, Contributing Editor, CPNMiddletown, Conn.–Chestnut Hill and Northwoods Apartments, two multifamily communities accounting for an aggregate 650 residences in Middletown, Conn., have just come under new ownership. Entities operating as Northwoods Apartment Associates L.L.C. and Chestnut Apartment Associates L.L.C. took the two Class A properties, located [...]

By JoAnna Brandi Given the choice of dealing with a positive, upbeat employee with a “can-do” attitude or with a disgruntled, distracted, uninterested one, which would you choose? No contest. Likewise, customers, aka residents, always want the best experience possible; they want it to be easy and pleasant to do business with your company. Enter [...]

By Anuradha Kher, Online News EditorSan Francisco–The Rainmaker Group, maker of automated revenue management software and services for the multifamily housing and gaming hospitality industries for property profitability, has recently announced that Carmel Partners, with over 19,000 units, will implement the LRO (Lease Rent Options) multifamily housing revenue optimization solution after a successful 12-month pilot [...]

By Anuradha Kher, Online News EditorWashington, D.C.–Days into debate and discussions on Capitol Hill regarding a $700 billion bailout package to stabilize the financial industry, the House of Representatives voted this afternoon against the bill in its current state. The vote against the measure was 228 to 205, with 133 Republicans joining 95 Democrats in [...]

By Scott Baltic, Contributing Editor, Commercial Property NewsWashington, D.C.–In a transaction orchestrated by the Federal Deposit Insurance Corp., Federal Reserve and Department of the Treasury, Citigroup Inc. will acquire the banking operations of Wachovia Corp. According to Citigroup, the deal will make it the largest U.S. bank in terms of total deposits. The announcement by [...]