Archive for March 2009

By Erika Schnitzer, Associate EditorAnaheim, Calif.—1818 Platinum Triangle, a 265-unit luxury apartment community developed by the Houston-based Hanover Co. and designed by Irvine, Calif.-based KTGY Group Inc., Architecture and Planning, is now open.1818 Platinum Triangle is located within the 820-acre, mixed-use master planned Platinum Triangle, which will be comprised of 20,000 residential units, five million…

By Anuradha Kher, Online News Editor  Scottsdale, Ariz.–Realty DataTrust and Rent.com have signed an agreement to integrate rental rate data from over 25,000 property listings on Rent.com into apartment market data and trends website, PadZing.com. The inclusion of Rent.com property data with data from current content provider VaultWare, an online apartment availability and reservation system,…

By Anuradha Kher, Online News EditorMiami–More than 200 condominium and townhome projects with blocks of 20 units or more are currently presenting investors with potential acquisition opportunities in Miami-Dade County according to CondoReports.com’s 1Q09 Miami Bulk Buyer Report.   The report differs from previous studies of unclosed inventory as it is both countywide and includes recent…

By Anuradha Kher, Online News EditorLos Angeles–Meridian Capital Group arranged purchase financing in the amount of $3,025,000 for a total of 24 multifamily units. The two Southern California properties are located at 3101 Canfield Ave. in Los Angeles and 1132 Elm Avenue in Glendale. Canfield Avenue was a purchase that went into escrow several months…

By Anuradha Kher, Online News EditorWashington, D.C.–Julie Stalknecht (pictured) has been named vice president of membership, marketing and meetings for the National Multi Housing Council (NMHC).   Most recently, Stalknecht was vice president of sales for the National Apartment Association (NAA), where she doubled revenue dollars in her first three years. “Joining NMHC is a true…

By Anuradha Kher, Online News EditorPhoenix–While the student housing sector has so far been a safer bet than conventional multifamily, industry professionals are becoming more and more uncertain and even highly suspect of this idea, acknowledging that student housing may not be as recession resistant as was initially believed.Cap rates for student housing increased approximately…

By Anuradha Kher, Online News EditorNew York–Move ins have begun at The Absolute, a boutique condominium located at 111 Steuben St. in Brooklyn’s Clinton Hill neighborhood.The Absolute, designed by architect Gary Shoemaker, is a six-story steel framed structure, with a green-tinted insulated glass curtain wall. The building features 35 units, ranging in size from 684-sq.-ft.…

By Erika Schnitzer, Associate EditorSan Francisco—Urban Housing Group of Palo Alto, Calif., a subsidiary of The Marcus & Millichap Company, is on track to lease 25 units per month at its recently opened Strata at Mission Bay, a 192-unit mixed-use luxury community that includes 10,000 sq. ft. of ground-level retail.Despite the recession, the San Francisco…

By Anuradha Kher, Online News EditorEl Cajon, Calif.–Hendricks & Partners recently arranged the sale of The Grove (pictured), located at 346 Jamacha Rd. in El Cajon, Calif. for $14.7 million. Constructed in approximately 1973, The Grove features 144 units in 12 two-story buildings. It comprises 24 one-bedroom/one-bathroom units, 40 two-bedroom/one-bathroom units and 80 two-bedroom/two-bathroom units.…