Archive for September 2008

By Anuradha Kher, Online News EditorSan Francisco–Cohen Financial recently secured a $12.4 million refinancing for Vendome Place (pictured), a luxury high-rise apartment project in the Silicon Valley. The 75-unit property is located at 750 Miller St., close to downtown San Jose, Calif.  The property totals 76,000 sq. ft. and is fully leased.Cohen Financial secured the…

By Anuradha Kher, Online News EditorCoral Gables, Fla.–Ponce Circle Developers LLC has selected architecture firm, Jorge L. Hernandez Architect, to design Old Spanish Village, a $350 million, seven-acre mixed-use development in Coral Gables, Fla. Inspired by the vision of Coral Gables founder, George Merrick, Old Spanish Village hopes to evoke the aesthetics of ancient Spanish…

By Anuradha Kher, Online News EditorMontclair, N.J.–Pinnacle Downtown, the developer of the Siena at Montclair, a 101-unit condominium, located at 48 South Park St. in Montclair, N.J., will offer Abigail Michaels Concierge, an elite service that provides hotel-style services as well as lifestyle management, at the community. This will be an addition to the existing…

By Anuradha Kher, Online News EditorShanghai, CHINA–The Institute of Real Estate Management will soon be launching its Certified Property Manager (CPM) course in China’s most populous city, Shanghai. In partnership with the Shanghai Weston Real Estate Management Institute, a division of Brawman International Group, IREM will begin a complete series of CPM courses from Oct.…

By Anuradha Kher, Online News Editor, MHN and Eugene Gilligan, Senior Editor, CPNWashington, D.C.–The U.S. government’s takeover of Fannie Mae and Freddie Mac is a necessary step to stabilize the U.S. housing market, according to multifamily industry experts who are still examining the ramifications of the announcement.The takeover will go a long way toward solving…

By Anuradha Kher, Online News Editor, MHN and Gail Kalinoski, Contributing Editor, Commercial Property NewsBoston–Development of Archstone Avenir, a 241-unit luxury apartment community in Downtown Boston, is moving forward with help from a $90 million construction loan arranged by the Boston and Dallas offices of Holliday Fenoglio Fowler LP. The 36-month construction loan was secured…

By Anuradha Kher, Online News EditorWashington, D.C.–Orlando J. Cabrera has joined the international law firm of Nixon Peabody LLP as counsel in the firm’s affordable housing practice. Cabrera was most recently assistant secretary for Public and Indian Housing at the Department of Housing and Urban Development (HUD). He was nominated for the position by President…

By Anuradha Kher, Online News EditorWashington, D.C.–The foreclosure crisis in the U.S. has resulted in many households and investors renting their houses and condos in the current market, increasing the competition apartment firms face. In response to this competition from the shadow rental market, the National Multi Housing Council (NMHC) has launched a new brochure…

By Anuradha Kher, Online News EditorWhite Plains, N.Y.–Community Housing Innovations (CHI), along with White Plains Mayor Joseph Delfino, recently broke ground on the city’s newest affordable housing development, the 14-unit Minerva Place Condominiums. Community Housing Innovations Inc., a White Plains-based nonprofit organization, is developing and constructing the project, which features the city’s first GeoExchange system…

By Erika Schnitzer, Associate EditorNew York–Sales for Madison Equities’ 57 Irving Place, a nine-unit luxury condominium, have officially begun. Comprised of six full-floor residences, a townhouse, duplex and penthouse, the development is located two blocks from Gramercy Park, a private, key-locked park.Designed by Audrey Matlock Architect, the building’s glass façade features walls of glass spanning…