Archive for May 2008
U.S. Productivity Rose in the First Quarter
Washington, D.C.–Productivity–the amount of output per hour of work–grew at an annual rate of 2.2 percent in the first quarter, the Labor Department said Wednesday.Labor cost pressures declined slightly–an indication that inflation could be easing, according to the New York Times. In the last three months of 2007, labor costs increased by 2.8 percent; in…
Read MoreDrive Your Buildings to Peak Operating Efficiency and Save Money
By Thomas Scali, U.S. Energy GroupLet’s rethink the way we measure building efficiency. As an industry, we have already developed effective programs to certify buildings as green and reward major development and infrastructure initiatives. These are important and they should be continued. However, if we are truly going to address the issue of building efficiently…
Read MoreDeal of the Day: Arbor Provides Three Loans Worth More Than $55M
By Anuradha Kher, Online News EditorSan Antonio, Boston, Milford, N.H.–Arbor Commercial Funding LLC recently completed funding of three loans totaling $55,692,000 under the Fannie Mae DUS product line to finance rental properties totaling 1,115 units. The four properties, Rolling Ridge Apartments in San Antonio, Woodland Heights and Laurel Hills in Milford, N.H., and 480 and…
Read MoreNew Home Quest Database to Provide In-Depth Comparative Analyses
By Erika Schnitzer, Associate EditorNew York–A new monitoring system and database will offer in-depth comparative real estate data analysis reports. The $1 million system, created by Home Quest, a New York-based boutique brokerage, comprises over 10 years of industry information and real estate transactions.“We developed a multi-parameter system that looks at primary and secondary information,…
Read MoreN.J.-Based Architect to Design 200-Acre Community in Romania
By Anuradha Kher, Online News EditorBucharest, ROMANIA–Hasbrouck Heights, N.J.-based DMR Architects has been chosen to develop a 200-acre mixed-use project on the outskirts of Romania’s capital city, Bucharest.The unnamed project includes 1,400 residential units (of which 40 percent are condos and apartments while the rest are single-family homes), a school and retail space, as well…
Read MoreMarketing Hits New Note with Expanded Definition of “Home Entertainment”
By Anuradha Kher, Online news Editor New York–Real estate developer Gotham Organization has just launched a rooftop summer music series. On May 5th, Gotham’s Open A.I.R: Artist In Residence concert series debuted with a performance by Crush Management and Interscope recording artist Charlotte Sometimes on the rooftop terrace of the 48-story Atlas, located at West 38th…
Read MoreWhoever Owns the Information Will Seal the Deal
Over the past year, the real estate industry has become more and more concerned about Web sites that offer buyers and sellers new ways of connecting without an agent. And that concern should be growing because–according to some sources–those sites are about to step up their game. A recent CNN.com article said that soon, value…
Read MoreWinning Advice for Property Managers
Colorado Springs, Colo.–While property management sometimes seems to be taken for granted, outstanding management performance was recently recognized in the form of several prestigious Multifamily Pillars of the Industry Awards, presented during the National Association of Home Builders (NAHB) conference in Colorado Springs, Colo. attended by apartment and condominium developers. NAHB presents its Pillars awards…
Read MoreDeal of Day: IMT Capital Acquires 253 Units in Westlake Village for $68.5M
Ventura County, Calif.–IMT Capital LLC recently purchased Townhomes of Westlake Village, a 253-unit townhouse and apartment property in Ventura County, Calif., from Wilshire Equities for $68.5 million in cash. IMT will invest an additional $3 million in upgrades for the property, which is located on more than 13 acres at 603 Hampshire Rd. in Westlake…
Read MoreTIC 1031 Exchange Co. Creates its Own Management Co.
By Anuradha Kher, Online News EditorPasadena, Calif.–Evergreen has named Kay Hutchison (pictured) the president of Evergreen Real Property Management LLC, a new entity managing 35 current properties and future acquisitions for Evergreen Realty Group.“The new company has been established because we want to control all our properties,” Bill Kugler, national sales director of Evergreen, tells…
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