Archive for July 2008
DEAL OF THE DAY: Care Investment Acquires 12 Senior Housing Properties for $100.8M
By Anuradha Kher, Online News EditorIll., Ind., Iowa, Neb.–Care Investment Trust Inc. recently acquired a portfolio of 12 senior housing facilities from affiliates of Eby Realty Group LLC for $100.8 million. An affiliate of Bickford Senior Living Group LLC master leased the facilities from Care YBE for 15 years with four 10-year renewal options. Each…
Read MoreHUD Appoints Assistant Secretaries for Intergovernmental Relations, Community Development
By Anuradha Kher, Online News EditorWashington, D.C.–The U.S. Department of Housing and Urban Development (HUD) has appointed Sheila M. Greenwood (pictured) as the new assistant secretary for congressional and intergovernmental relations and Susan Peppler as HUD’s new assistant secretary for the department’s office of community planning and development.”As congressional and intergovernmental relations increasingly become the…
Read MorePlans Unveiled for Student Housing Project Next to Rowan University
By Anuradha Kher, Online News EditorGlassboro, N.J.–Harkins Builders has unveiled its plans with SORA Housing LLC to build new student housing for Rowan University in Glassboro, N.J. The $21.5 million Glassboro Student Housing is part of the Rowan Boulevard development partnership between Rowan University and the Borough of Glassboro, N.J., which is also being developed…
Read MoreDeveloper Completes $14M Renovation of Historic Warehouse
By Erika Schnitzer, Associate EditorSt. Louis, Mo.–The $14 million renovation of G.W. Lofts, a six-building, 60-unit rental community in St. Louis, has been completed. The development was originally a warehouse for the Edwin F. Guth Lighting Co.“The original aesthetic was maintained as much as possible,” says Gary Rogowski, the project architect for Rosemann & Associates,…
Read MoreMCZ Takes Advantage of Weak U.S. Dollar to Sell its Florida Properties to International Buyers
By Anuradha Kher, Online News EditorMiami, Fla.–MCZ Development Corp. is betting on the weak U.S dollar to sell its remaining units in Florida to overseas buyers. “The South Americans have been interested in this market for nearly a decade now,” Michael Lerner, president of MCZ, tells MHN. “In recent years, we have seen a lot…
Read MoreWind Crest Introduces Energy-Efficient Induction Cooktops
Induction cooktops are reportedly more energy efficient than traditional electric cooktops because they heat up quickly and the pan or pot conducts the energy. Whereas traditional electric coil elements are 50 to 55 percent energy efficient, induction cooktops by comparison are 90 percent efficient on average.Wind Crest has introduced an Induction Cooktop that offers 11…
Read MoreHow Top CEOs Are Dealing With Rising Energy Costs, Other Challenges
By Teresa O’Dea Hein, Managing EditorOrlando, Fla.–What Keeps You Up at Night? might seem like a personal question but five leading multifamily CEOs were willing to share their industry concerns at a general session held during the 2008 National Apartment Association (NAA) Education Conference & Expo at the end of June in Orlando, Fla. in…
Read MoreProfile: ‘Amateur Hour Is Over,’ Says IREM President
By Teresa O’Dea Hein, Managing EditorProfessional management is key in tough economic times, believes Regina (Reggie) T. Mullins, CPM. With more than 24 years of industry experience, Mullins brings a lot of expertise to her role as the 2008 president of the Institute of Real Estate Management (IREM). This year marks IREM’s 75th anniversary. In…
Read MoreDEAL OF THE DAY: Siegel Group Acquires 330-Unit Bankrupt Apartment Complex for $19.10M
By Anuradha Kher, Online News EditorLas Vegas–The Siegel Group Nevada Inc. and Great American Capital together recently completed the acquisition of the Deer Creek Apartments, a 330-unit bankrupt apartment complex in Las Vegas, for $19.10 million.Deer Creek Apartments is situated on approximately 6.68 acres of land adjacent to the corner of Flamingo and Swenson.In late…
Read MoreHakatai’s New Collection of Mixed-Media Mosaic Tiles
The Horizon series from Hakatai features mixed-media mosaic blends, offering blends of glass, glass and metal, and glass and stone. The random blends offer versatility and color options of glass mosaic tile, combined with the diversity of textures presented by polished stone, stainless steel or copper mosaics.The Horizon series of 7/8-in. by 7/8-in. tiles comes…
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