Archive for September 2008
TODAY’S DEALS: GFI’s JV with The Carlyle Group Gives Company $1.2 Billion in Purchasing Power, and Other Transactions
By Anuradha Kher, Online News EditorNew York–GFI Capital Resources Group recently formed a partnership between GFI and The Carlyle Group, which will provide GFI with $1.2 billion in buying power ($300 million worth of equity), to invest in real estate assets throughout the country. This will allow GFI to more than double the size of…
Read MoreQ&A with Jeffrey Day: The Market Has Yet To Reach Bottom
Jeffrey Day (pictured) is managing director and co-head of Deutsche Bank Berkshire Mortgage (DBBM). DBBM is a Fannie Mae, Freddie Mac and Federal Housing Administration (FHA) mortgage lender. It originates in excess of $6 billion per year in multifamily loans, and has a servicing portfolio of over $23 billion.As a part of the Deutsche Bank…
Read MoreMeeks Partners Seeks to Raise Bar for Independent Senior Living Communities
By Anuradha Kher, Online News EditorHouston, Plano, Alden Bridge, Texas–Houston-based Meeks Partners has designed three luxury independent senior living facilities in Houston, Plano and Alden Bridge, Texas that hope to set a new bar in the independent senior housing category. Conservatory Senior Living will manage all three projects, which feature one- and two-bedroom units ranging…
Read MoreRedPeak Properties Breaks Ground on First ‘Built Green’ Rental Project
By Anuradha Kher, Online News EditorDenver–RedPeak Properties has broken ground on a 148-unit luxury apartment project as part of an expansion of its existing 439-unit Seasons of Cherry Creek, located at 3498 Ellsworth Dr. in Denver.When the 13-story building is complete in 2010, The Seasons of Cherry Creek will total 587 units across three high-rise…
Read MoreAffordable Housing Developer Launches Sustainability, Community Building Education Series
By Erika Schnitzer, Associate EditorAnn Arbor, Mich.–Avalon Housing Inc., a developer and manager of affordable housing, will launch a series of events, under a program entitled “Celebrating the Sustainable Community,” to raise funds to help eliminate homelessness in Ann Arbor.The series, to be held November 6-10, is designed to educate attendees on sustainability and community…
Read MoreMulti-Housing World Countdown
How will multifamily, mixed-use and other sectors perform in the months to come? Is financing coming back?Find out what to expect in 2009 and beyond with Robert Bach, SVP, chief economist, Grubb & Ellis; Dr. Sam Chandan, chief economist and SVP, Reis; Richard Green, Ph.D., Professor and Lusk Chair, University of Southern California Lusk Center…
Read MoreTODAY’S DEALS: 224-Unit Multifamily Property Sold for $23M, and Other Transactions
By Anuradha Kher, Online News EditorReno, Nev.–Marcus & Millichap Real Estate Investment Services has arranged the sale of Bristle Pointe (pictured), a 224-unit multifamily community in Reno, Nev., for $23 million.“Bristle Pointe represented an excellent opportunity for the investor to acquire a quality Class B multifamily asset in the high-growth suburban community of Reno, with…
Read MoreArchitecture, Inc. to Design Two Mixed-Income Multifamily Projects on 92 acres of Public Housing Sites
By Anuradha KHer, Online News EditorMemphis, Tenn.–Architecture, Incorporated is designing two massive multifamily projects in Memphis, Tenn., slated for completion by approximately 2012. University Place (pictured), situated on 52 acres on the site of the former Lamar Terrace public housing development, features a 112-unit seniors housing project; a 76-building, 287-unit mixed-income rental project; as well…
Read MoreCity of Portland Proposes Changes to Landlord Laws to Enforce Healthy Rental Housing
By Erika Schnitzer, Associate EditorPortland, Ore.–A public hearing was held last week to discuss the proposed changes to rental housing ordinances in Portland. Such changes are expected to remedy health and safety hazards caused by landlord neglect.The new rulings would require anyone who owns rental properties to obtain business licenses from the city, in addition…
Read MoreRitz-Carlton Residences to Open in Atlanta
By Anuradha Kher, Online News EditorAtlanta–Post Properties Inc. and Novare Group Holdings LLC have unveiled plans for the residential component of The Ritz-Carlton Residences, a vertical mixed-use project located at 3630 Peachtree Rd. in Atlanta’s Buckhead neighborhood. It is expected to be ready for occupancy in mid-2009.The project features 17 stories of residential space with…
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