Archive for January 2008
Camden Property Trust Named One of Fortune’s ‘100 Best Companies to Work for’
Houston– Fortune Magazine has chosen Camden Property Trust as one of the “100 Best Companies to Work for” in America. Camden, a real estate company that owns, develops and manages multifamily apartment communities, is ranked 50th in the overall survey, and 19th in the magazine’s small companies subcategory.Camden has interests in and operates 180 properties…
Read MoreHousing Sites’ Success May Push Real Estate Agents Out of the Picture
The housing slump hasn’t been easy on real estate agents, but they’re now facing a new threat–online listing sites, which are booming despite the continued decline of home sales in the U.S. According to an article in yesterday’s New York Times, companies like Redfin, an online brokerage, Zillow, Terabitz and Trulia have seen sales rise…
Read MoreCooper Lighting
Cooper Lighting has a new line of square trims for its Halo H3 small aperture line of recessed lights. The dual-listed trims can be used with low voltage 50W MR16 as well as line voltage 50W GU10 lamps, depending on the housing need.The trims come in three different styles including an Adjustable, Adjustable Gimbal and…
Read MoreGated Condo Community Opens in San Antonio
By Anuradha Kher, Online News EditorSan Antonio–The Pinnacle at Oak Hill, a two-phase gated condominium community in San Antonio, Texas opened recently. Phase One of the Pinnacle is complete and nearly sold out with only six condominiums and two town homes remaining available for immediate move-in, according to developer and owner, Birkel Residential Group.“We are…
Read MoreDEAL OF THE DAY: Boston Capital Acquires 120-Unit Affordable Multifamily Development
By Anuradha Kher, Online News EditorToms River, N.J.–Boston Capital Finance LLC has provided a construction-only loan of over $10 million to Toms River Crescent Apartments, a 120-unit affordable housing development in Toms River, N.J. Boston Capital has also provided tax credit equity for the development.Located on a 10.3-acre site near Route 70, Toms River Crescent…
Read More2007 May Have Been Worst Housing Period in Almost 50 Years
Washington, D.C.–Figures released Monday by the Commerce Department indicate 2007 may have been the housing industry’s worst year in nearly half a century, the New York Times says.New home sales dropped by 26 percent in 2007–the sharpest decline since recordkeeping began in 1963.In December alone, new home sales fell 4.7 percent to a 604,000 annual…
Read MoreU.K. Home Prices Decline for Fourth Month
London–Higher interest rates and a bleak market outlook caused U.K. home prices to fall for the fourth consecutive month in January, Bloomberg said Monday.The average cost of homes in England and Wales declined by 0.3 percent–which was the rate of decline in December–to 174,700 pounds ($346,000), according to London-based research group Hometrack Ltd. Home prices…
Read MoreSubprime Exposure Drops Belgian Bank’s Profits from €4 to €3 Billion
Brussels–Belgian and Dutch bank Fortis said Sunday its net profits before divestments from 2007 may be €1 billion lower than originally estimated because of subprime exposure, the Financial Times said Monday.The Brussels-based bank said in a statement that “if these scenarios were to be applied to the closing of the accounts of 2007–which would be…
Read MoreU.S. Lands Top Spots On Commercial Real Estate Investment List
Washington, D.C.–For the first time, two U.S. cities hold the top two spots on the list of global commercial real estate investors’ preferred cities, according to an Association of Foreign Investors in Real Estate (AFIRE) survey released Monday.New York and Washington ranked No. 1 and 2 on the list. Survey respondents said investing in commercial…
Read MoreKettler Selected to Manage 168-Unit Apartment Community
By Anuradha Kher, Online News EditorAlexandria, Va.–Kettler, one of greater Washington D.C.’s largest real estate development and property management companies, has been chosen to manage a new mid-rise apartment community called Monarch, located in Alexandria, Va.The 168-unit building, with rents ranging from $1,675 to $4,100, began leasing in January 2008. Monarch features apartments, penthouses and…
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