Archive for January 2008

Dallas–Commercial real estate company Holliday Fenoglio Fowler, L.P.’s Dallas office recently arranged a $114.4 million, non-recourse construction loan for The Tower Residences at the Ritz-Carlton, Phase II of the Ritz-Carlton’s luxury hotel and condominium development in Dallas.Holliday Fenoglio Fowler Executive managing Director Scott Galloway, Senior Managing Director Trey Morsbach and Associate Director John Ahmed worked…

By Keat Foong, Executive EditorBoca Raton, Fla.–Developers at a roundtable at the National Multi Housing Council (NMHC) annual meeting here suggested a diverse range of approaches to overcoming common development and redevelopment challenges. Value engineering, community relations, consumer needs and green building were some of the topics covered at the session entitled “Roundtable: Construction Challenges…

Atlanta–Perseus Realty Partners, headquartered in Washington, D.C., recently entered into a joint venture with Atlanta-based J. Tucker Development Partners, Inc. to develop Ashton Hills, a new 225-unit, mid-rise rental apartment community in Atlanta.”We saw this as an opportunity to take advantage of the strong Atlanta apartment market,” says T.J. Hofheimer, Director of Perseus Realty Partners.…

Zurich–Swiss bank UBS, headquartered in Zurich, will overhaul its investment banking business because of massive U.S. subprime mortgage-related losses, CNNMoney.com reported Friday.In an internal memo, Chief Executive Marcel Rohner said the bank could cut jobs and will decrease its riskier strategies, which included ceasing its U.S. proprietary credit operations.UBS’ credit market business will be reduced…

New York–A group of mortgage counselors, lenders and servicing companies said Friday that more than 370,000 homeowners avoided foreclosure in the last six months of 2007, The New York Times reports.The Hope Now alliance said that the amount of homeowners who received help–as mortgage servicers tripled the rate at which they eased loan terms from…

Sacramento–A California appraiser filed a lawsuit against Washington Mutual Inc., claiming she was blacklisted after reporting lower home prices, The Wall Street Journal reported Thursday.The suit, filed in state court in Sacramento, also named two appraisal-management companies and alleges the lower home evaluations made it difficult for the bank to get loans approved.The appraiser, Jeniffer…

London–British property prices haven’t declined at their current rate since the early 1990s, according to the Royal Institute of Chartered Surveyors (RICS).Data from the group showed that 49.1 percent more chartered surveyors recorded a drop in home prices in December–the sharpest increase since November 1992, Forbes.com reports. In November, 40.6 percent more surveyors reported a…

By Anuradha Kher, Online News EditorChennai, India–Hirco Plc, the investment vehicle for Hiranandani, one of India’s largest developers of luxury mixed-use communities, announced this week that the company had made sales worth $133 million for residential units in Phase 1 of its newest township development, Hiranandani Palace Gardens. Palace Gardens will offer a range of…

By Teresa O’Dea Hein, Managing EditorMalvern, Pa.–USA Technologies has introduced eSuds Credit, an online laundry service for the nation’s multi-housing laundry industry. eSuds Credit enables residents in multifamily housing to go online to see what washers and dryers are available in their shared laundry facility, pay for their laundry services with a credit or debit…