Archive for July 2008

By Anuradha Kher, Online News EditorNorman, Okla.–Quantum First Capital has closed a $1,583,000 loan to finance the Chateau of Normandy Apartments in Norman, Okla. The loan was funded through Quantum First Capital’s correspondent relationship with Green Park Financial through the Fannie Mae DUS program.The loan was structured with a 10-year term with two years interest-only…

By Erika Schnitzer, Associate EditorPlainfield, N.J.–The Immigration Reform Law Institute (IRLI) has filed a Fair Housing discrimination lawsuit, on behalf of a former employee and two tenants, against Connolly Properties Inc., a Plainfield, N.J.-based real estate investment firm and apartment operator. The suit is filed under the Racketeering Influenced and Corrupt Organizations (RICO) Act, enacted…

By Anuradha Kher, Online News EditorNew York–Despite dismal national trends, the real estate market in Manhattan remains strong, with the average condo price rising 36 percent from a year ago to $1,663,533, according to a second quarter market report recently released by Halstead Property. Even the median price, which is not impacted by the high-end…

By Anuradha Kher, Online News EditorCarrolton, Texas–The National and Texas Apartment Associations, Blue Moon Software and RealPage Inc., recently formed a partnership to integrate eSignature technology into the official leases of the National Apartment Association (NAA) and the Texas Apartment Association (TAA). With the new agreement, RealPage users can offer prospects the ability to electronically…

By Anuradha Kher, Online News EditorAtlanta–The Citi Foundation, which has supported Habitat for Humanity International projects for nine years, recently made a $2 million grant to the organization that will go toward supporting the construction of affordable housing in the United States.The grant from Citi will provide more than 50 Habitat affiliates across the country…