Archive for January 2008

By Anuradha Kher, Online News EditorNew York–While the credit crunch and economic uncertainty have caused investor anxiety and tighter lending standards, commercial real estate remains comparatively attractive with solid fundamentals, plentiful capital and steady allocations, according to Deloitte LLP’s 2008 Real Estate Capital Markets Top Ten Issues Report, released this week. “In prior boom cycles, commercial…

By Anuradha Kher, Online News EditorNew York–The Exchange at 25 Broad Street, a remodeled luxury condominium located across the street from the New York Stock Exchange in Manhattan’s Financial District, will close sales for its first phase in February. Remodeling of the landmark building is slated to be complete by late spring of this year.The…

By Anuradha Kher, Online News EditorHouston–Ziegler Cooper Architects is designing a 578,000-sq.-ft. urban village for owner Lamesa Properties and developer Randall Davis Co. in Houston.Located within the Rice Village, near Rice University, Sonoma will have 213 condominiums, 60,000 sq.-ft. of retail space, 43,000 sq.-ft. of offices, four restaurants, a grocery store and parking for over…

By Anuradha Kher, Online News EditorWashington D.C.–The Federal Reserve, reacting earlier to an international stock sell-off and fears about a possible recession in the U.S., slashed three-quarters of a point (0.75 basis points) off the federal funds rate, which is the interest banks charge each other for short-term loans. The move came surprisingly just ahead…

West Hollywood, Calif.–The Charles Dunn Company, a partner of GVA Worldwide, negotiated the purchase and sale of a 6,678-sq.-ft. apartment building located at 521 North Orlando Ave., in West Hollywood, Calif. An undisclosed buyer purchased the building for over $1.58 million. The two-story apartment building has nine units and is 100 percent occupied. “The building…

By Anuradha Kher, Online News EditorBeijing, CHINA–The Lincoln Institute of Land Policy and Peking University have together established the Center for Urban Development and Land Policy on the University’s campus in the city of Beijing. This Center aims to enhance academic teaching and research as well as facilitate discussions on issues such as sound policy…

By Erin Brereton, Content ManagerAbu Dhabi–The company that manages government-owned real estate assets in Abu Dhabi recently selected architectural firm Otak International, headquartered in Lake Oswego, Ore., to lead the design-build process for a Dh1.6 billion ($435 million) green mixed-used complex.As lead architect on the Al Bateen Wharf Hotel project, which will add townhomes, shops…

Grand Haven, Mich.– Columbus, Ohio-based Red Mortgage Capital, Inc. supplied more than $11 million to a new apartment complex in Grand Haven, Mich.–and Red plans to arrange more financing as construction on the property continues.Red Mortgage Capital, Inc. provided $11,900,000 in competitively priced Fannie Mae DUS fixed-rate financing, which carries a 10-year term and 30-year…

By Anuradha Kher, Online News EditorBoulder, Colo.–Boulder Housing Partners (BHP), the housing authority of the city of Boulder, in partnership with VisionSun Design, a design and project management consulting firm, has awarded a solar energy contract to Bella Energy to install 1.75 kilowatt solar electric systems at a 30-unit affordable housing project.The 52.5 kilowatt solar…

Washington, D.C.–Home mortgage applications rose for the third week in a row as lower interest rates caused consumers to refinance, the Mortgage Bankers Association (MBA) said Wednesday.The Washington, D.C.-based group’s seasonally adjusted index of refinancing applications shot up 16.9 percent in the week ending January 18 to 4,178.2–its highest level since March 2004, according to…