Archive for July 2008
Salt Water Systems Gaining Popularity for Pools
By Connie Sue CentrellaSwimming pools are a cool refuge for residents this time of year, and maintaining them could become easier with the evolution of salt water systems. Salt water systems are now gaining in popularity for a number of reasons, including the reduced handling of chemicals by staff and potential cost savings. While the…
Read MoreGreystone Develops $3M – $7M Green Condos in New York’s Carnegie Hill Neighborhood
By Lisa Iannucci, Green Building CorrespondentNew York–Manhattan’s Carnegie Hill neighborhood — known for its mansions and townhouses — will soon be a little greener with nine three- and four-bedroom green condominiums now in construction. Developed by New York-based Greystone Property Development and designed by Barry Rice Architects, the homes will include recycled, local and sustainable…
Read MoreSpa Days: Residents Offered Free Treatments On Site
By Teresa O’Dea Hein, Managing EditorNew York–Who doesn’t like a little pampering? Everybody appreciates a break now and then, and one multifamily owner is making sure that its residents get the chance to savor some R and R. The Gotham Organization Inc. offers residents at its midtown Manhattan apartment buildings the opportunity to savor free…
Read MoreDEAL OF THE DAY: Student Housing on West Coast Sold for $45M
By Anuradha Kher, Online News Editor Riverside, Calif.–GMH Capital Partners recently arranged the sale of the GrandMarc at University Village, a 212-unit, Class A apartment complex in Riverside, Calif., for $45 million.Kayne Anderson, a Los Angeles-based investment company, purchased GrandMarc at University Village. The property consists of eight four-story apartment buildings and one single story leasing…
Read MoreNMHNC/NAA Ad Criticizes U.S. Housing Policy’s Over-Emphasis on Homeownership
By Anuradha Kher, Online News EditorWashington, D.C.–As lawmakers struggle to complete their work on a comprehensive housing stimulus bill, the National Multi Housing Council (NMHC) and National Apartment Association (NAA) have released a new advertisement, urging lawmakers to learn from the country’s past mistakes and adopt a more balanced housing policy.“NMHC/NAA and others have been…
Read MoreLos Angeles, Banks Make Available $100M Fund for Predevelopment, Acquisitions
By Anuradha Kher, Online News EditorLos Angeles–The first multimillion-dollar financing tool for the creation and preservation of affordable housing in Los Angeles has recently been unveiled. The New Generation Fund is a $100 million predevelopment and acquisition fund created through a partnership of the city of Los Angeles and a consortium of banks, financial institutions,…
Read MoreIndyMac Acquisition Not Likely to Affect the Bank’s Multifamily Business
By Anuradha Kher, Online News EditorNorthbrook, Ill.–After Prospect Mortgage completes the acquisition of IndyMac, the bank’s multifamily loan business will likely remain intact, according to Bill Hughes, SVP and managing director of Marcus & Millichap Capital Corp. “I would think the buyer wants to keep that division intact. Why would they take IndyMac on if…
Read MoreDEAL OF THE DAY: ARA Arranges Sale of 390 Units for $47M
By Anuradha Kher, Online News EditorAtlanta–Apartment Realty Advisors (ARA) recently represented Centerville, Ohio-based The Connor Group in the $47 million sale of two multifamily properties, totaling 390 units, located in Atlanta’s Perimeter Center and Decatur markets.Glen Lake (pictured) is a 29.89-acre, garden-style community featuring 270 units in the Perimeter Center’s “Golden Triangle.” Constructed in 1980/1982,…
Read MoreDelta’s Touch-Sensitive Kitchen Faucet
Delta’s new Pilar pull-down kitchen faucet with Touch2O technology is designed to be a smarter, cleaner and more efficient way to work in the kitchen.The Touch2O technology enables users to start and stop the flow of water with a tap anywhere on the spout or the handle, making it easier to turn off the water…
Read MoreApartment Guide Launches Spanish Language Listing Website
By Erika Schnitzer, Associate EditorAtlanta–Apartment Guide recently launched its Spanish language Website, RentRentar.com, to help Spanish-speaking apartment seekers find a home.“We launched the Website because we knew there was a growing population in the country of Hispanic residents, and we thought there was a need to branch into that space,” Arlene Mayfield, president of Apartment…
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