Archive for May 2008

By Anuradha Kher, Online News EditorNew Orleans/Columbia, S.C./St. Cloud, Minnesota/Chicago/Grand Forks, N.D.–NorthMarq Capital recently arranged mortgage financing totaling $26.55M for five apartment communities across the U.S.The company’s Charlotte regional office completed first mortgage financing of $13 million for Wind Run Apartments, a 400-unit rental property, located in New Orleans. Financing was based on a 10-year…

By Erika SchnitzerAssociate EditorScarsdale, N.Y.–Christie Place, a 42-unit Tudor-style mixed-use development for adults 55 years and older, is expected to become Scarsdale’s first luxury condominium. The redevelopment project will include ground-floor retail space, which is currently 80 percent leased.“The building was an old garage and parking facility used for commuter parking, and the village was…

By Anuradha Kher, Online News EditorAustin–Stratus Properties Inc., headquartered in Austin, and the Canyon-Johnson Urban Fund recently secured $165 million in construction financing from Corus Bank for the construction on the W Austin Hotel & Residences, a $295-million mixed-use project, located in downtown Austin’s 2nd St. district, overlooking Lady Bird Lake. The project is seeking…

Richard Swerdlow, CEO, founded Condo.com (formerly US Condo Exchange) in 2005 and is responsible for the company’s strategic direction and operations. Previously, he founded Everything Wireless, the first consumer cataloger and Internet retailer, which provided national distribution of wireless phones and accessories. The company grew to $100 million in revenues. Richard has an extensive background…

By Anuradha Kher, Online News EditorBoca Raton, Fla.–American Water & Energy Savers formed a partnership with Power Buyer Green, operated by GEMSA Loan Services LP, along with Grant Capital Management, to deliver a water conservation program designed to save money for owners of multifamily properties of 100 units or more.With these companies’ combined efforts, AWES…

By Lisa Iannucci, Green Building CorrespondentWashington, D.C.–JPI East, a division of Irving, Texas-based JPI,  is developing the first multifamily rental community in Washington, D.C. to earn LEED (Leadership in Energy and Environmental Design) Silver certification for new construction.Currently known as Jefferson at Half Street, the development will be a 419-unit luxury multifamily community that will…

Washington, D.C.–The Bush administration indicated it would veto the housing bill House Democrats are sponsoring that would give $15 billion to states to buy and revamp vacant homes, Bloomberg said Wednesday.”The principal beneficiaries of this type of plan would be private lenders–who are now the owners of the vacant and foreclosed properties–instead of struggling homeowners…

London–Homes worth more than £1 million ($1,952,015) have been hardest hit by the U.K. residential market decline, the Mail On Sunday reports.The average prices of the country’s most expensive homes have fallen from 10 to 15 percent since September, according to London-based real estate agency Hamptons.Homes that sell for £200,000 ($390,403) also declined over the…

Chicago–The number of homes under contract for sale in March declined to a record low for the second month in a row, according to a National Association of Realtors report released Wednesday.The Chicago-based real estate agent group’s Pending Home Sales Index dropped to 83 in March–a 1 percent decline from the downwardly revised 83.8 February…