Archive for June 2009
Automating Multifamily Building Management
By David Demarest, Architecture Demarest (Click here for Part 1, The Benefits of Building Information Modeling.)More than a new design tool, BIM (Building Information Modeling) is a technology that can revolutionize the way multifamily owners manage properties, maintenance, expansions, renovations and brands. Once the project is commissioned, the BIM model becomes an as-built model quite different from…
Read MoreTODAY’S DEALS: Alliant Arranges Over $10M for 351-Unit Apartment Community, and Other Transactions
By Anuradha Kher, Online News EditorClinton Township, Mich.–Alliant Capital LLC recently arranged the $10.2 million refinance of Eastwood Village, a 351-unit apartment community located in Clinton Township, Mich., on behalf of Paragon Properties Co. Alliant Capital utilized the Fannie Mae DUS Extended Rate Lock program and locked the interest rate six months prior to closing…
Read MoreWillco Closes $100M Fund Targeting Distressed Properties
By Anuradha Kher, Online News EditorPotomac, Md.–Willco Cos., a commercial property development and investment firm, will soon close the $100 million Willco Fund I LP. This fund, the first in the firm’s history, is targeting equity and debt investments in commercial office, multifamily residential, and industrial income-producing properties in the Washington, D.C. metropolitan area. “Given the…
Read MoreSPECIAL REPORT: Top Mistakes to Avoid in a Tough Economy
By Erika Schnitzer, Associate EditorLas Vegas—There are a number of mistakes multi-housing companies should identify and try to avoid, particularly in today’s recessionary environment, according to Bill Nye, PhD, Bill Nye Training, who spoke at last week’s National Apartment Association Conference and Exposition in a session entitled, “The Dirty Dozen: 12 Mistakes You Can’t Afford…
Read MoreINSIDE THE DEAL: Walker & Dunlop Makes $53M Acquisition Loan for Property in Florida
By Keat Foong, Executive EditorSebring, Fla.—Is you asset located in a Fannie Mae “pre-review state”? Here is one property that is, but it was in a very good position to obtain financing. Walker & Dunlop provided Tanglewood Manufactured Housing Community with a $53 million acquisition loan under the Fannie Mae DUS program. The 10-year fixed-rate…
Read MoreEdgewater Project Lowers Prices to Attract Buyers
By Anuradha Kher, Online News EditorEdgewater, N.J.–The Peninsula at City Place condominiums in Edgewater, N.J., which has been a rental building for nearly 10 years, is now in the process of condo conversion. Given the economic conditions, the developer has lowered prices by about 3 to 5 percent and the results have been favorable.“Part of…
Read MoreHuge Discounts on Luxury Manhattan Condos
Manhattan Market Snapshot: Diana Mosher, Editor-in-Chief of MHN Interviews Shaun Osher, CEO CORE Marketing GroupMHN recently visited with Shaun Osher, founder and CEO of CORE Marketing Group, a boutique residential brokerage and marketing firm based in Manhattan. We toured CORE’s new 3,500 square-feet Chelsea storefront sales office and chatted with Osher about the health of…
Read MoreTODAY’S DEALS: Meridian Capital Arranges Acquisition Financing of Over $9M, and Other Transactions
By Anuradha Kher, Online News EditorCamarillo, Calif.–Meridian Capital Group has arranged acquisition financing of $9,750,000 for Mountain View Apartments, located at 659 N. Las Posas Road. Meridian’s Los Angeles office negotiated the non-recourse, 6.36 percent fixed interest rate for 10-years via a Freddie Mac Program/Plus Lender utilizing its Capital Markets Execution (CME) program. Built in…
Read MoreCreating Amenities Residents Can get Excited About
By Susan Knowles, Connexion TechnologiesWhen it comes to managing the needs of apartments residents, it can be nearly impossible to find solutions that please every resident all of the time. People take for granted the benefits derived from property management and they consider rent a mandatory assessment. As a result, no one raves to family…
Read MoreSaving Space with SieMatic’s Kitchen Organization Systems
SieMatic’s SmartDesign kitchen and its MultiMatic, onWall and +PlusPoints organizational systems can help gain space in multifamily homes.SmartDesign is a collection that combines functionality with storage for optimal space usage. Designed by SieMatic with Dutch designer, Marcel Schepers, the SmartDesign kitchen combines the linear, contemporary features of the popular SieMatic SL and SC collections. The…
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