Archive for December 2008

By Anuradha Kher, Online News Editor MHN and Barbra Murray, Contributing Editor, CPNAtlanta–In its third quarter earnings report issued last month, Post Properties Inc. noted that it would sell six assets with the hope of pocketing approximately $360 million. With the latest disposition of Post Lenox Park (pictured) in Atlanta, the company has one down,…

By Anuradha Kher, Online News EditorChicago–The Regatta, a 44-story, 325-unit condominium project located at 420 E. Waterside Dr. in Chicago, recently won a Design Excellence Award from the Association of Licensed Architects (ALA) and the Society of American Registered Architects (SARA) and The Chandler (pictured), a 35-story, 304-unit condo project also located at the same…

By Anuradha Kher, Online News EditorNew York–Sales have started for The Fairchild (pictured), a new project featuring 21 custom built town homes, penthouses and lofts designed by David Howell, and located at Manhattan’s TriBeCa North Historic District at 55 Vestry St.  The nine-story doorman building features two-, three- and four-bedroom residences with 22-ft. high ceilings.…

New York–Data through October 2008, released this week by Standard & Poor’s, shows continued broad-based declines in the prices of existing single family homes across the United States, with 14 of the 20 metro areas showing record rates of annual decline and 14 now reporting declines in excess of 10 percent versus October 2007.”The bear…

By Keat Foong, Executive EditorTucson, Ariz.–The Phoenix, Ariz.-based Hendricks & Partners represented Equity Residential in the sale of Skyline Gateway Apartments for $18.4 million. The property is situated in an A+ location, at 4601 East Skyline Drive here at the top of the Santa Catalina Foothills. It is close to upscale shopping, restaurants, hotels and…

By Anuradha Kher, Online News EditorMinneapolis–The Minneapolis/St. Paul office of Colliers Turley Martin Tucker (Colliers) has completed the sale of Uptown City Apartments (pictured) to Invesco Real Estate, for $30,085,000.Uptown City Apartments features two mixed-use buildings located at 714 and 1220 West Lake St. in Minneapolis’ uptown neighborhood. The buildings include 163 apartment units, 4,000-sq.…

By Erika Schnitzer, Associate EditorHaverhill, Mass.–Forest City Enterprises Inc. recently celebrated the opening of the first building at Hamel Mill Lofts, a 305-unit adaptive reuse project in Haverhill, Mass. The community is comprised of three mid-rise buildings, two of which are masonry and the third, brick.Located in an old mill town about 25 miles north…

By Anuradha Kher, Online News Editor McLean, Va.–In the final week of 2008, Freddie Mac has named Raymond G. Romano as the company’s new chief credit officer, a position that is responsible for enterprise-wide credit risk management activities.Romano has served as senior vice president of credit risk oversight since he joined the company in 2004. In…

Irvine, Calif.–Sperry Van Ness International will kick off 2009 with a new president. The real estate brokerage firm’s board of directors has voted unanimously to promote COO Kevin Maggiacomo (pictured) to the new position.Maggiacomo will take on responsibility for the Irvine, Calif.-headquartered company’s day-to-day operation and execution of its vision, which CEO Mark Van Ness…