Archive for November 2008
Housing Group Calls for Economic Stimulus Package to Bring Back Section 8 Production Program
By Keat Foong, Executive EditorWashington, D.C.— President-elect Barack Obama’s introduction this week of his economic team and his call for swift action to adopt an economic stimulus plan were welcomed by the National Leased Housing Association (NLHA).Denise Muha, executive director of NLHA, which represents affordable housing owners and managers, said that “bold action” is needed…
Read MoreIREM Brochure Highlights Career Opportunities
By Teresa O’Dea Hein, Managing EditorChicago—The wide array of career opportunities in real estate management are detailed in a new, 25-page brochure published by the Institute of Real Estate Management (IREM). Written in a fresh, upbeat style, this comprehensive brochure describes what the different jobs in real estate management entail, what the market opportunities are,…
Read MorePerspective: Free Up Valuable Investment Capital by Reducing Insurance Collateral
By Tate McCoy, Lockton Companies, DenverMarket uncertainty has led to tightening of global credit markets and increased the cost of raising capital. To make the situation even more painful, real estate developers and apartment owners are likely to face increased insurance premiums. The property/casualty industry has seen a decrease in revenues of between 30 to 40…
Read MoreSanyo Introduces Double-Sided Solar Panels
Sanyo recently introduced the HIT Double bifacial solar panel, which generates power from both sides simultaneously and is reportedly designed to achieve the highest power per square foot of any solar panel in the world.Designed for maximum energy performance, the HIT Double produces up to 30 percent more electricity than the single-sided Sanyo HIT power…
Read MoreTODAY’S DEALS: Marcus & Millichap Lists 310 Units for $20.69M, and Other Transactions
By Erika Schnitzer, Associate Editor Orlando, Fla.—Marcus & Millichap has retained the exclusive listing for two Orlando apartment communities, totaling 310 units. The listing price of $20.695 million for Pendelton Park Villas (pictured) and Carlyle Court Apartments equates to $66,758 per unit.Stephen M. St. Clair, vice president of investments and director of Marcus & Millichap’s…
Read MoreNDR Group Completes Westchester’s First Green Affordable Senior Housing Project
By Erika Schnitzer, Associate EditorNew Rochelle, N.Y.—The NDR Group (formerly the New Rochelle Neighborhood Revitalization Corporation, or NRNRC) has completed Garito Manor at Union Square, a 102-unit green senior housing community.The LEED (Leadership in Energy and Environmental Design)-certified project is Westchester County’s first affordable green independent living community with resident services. It is available for…
Read MoreMixed-Use Developers House Innovative Tenants
By Teresa O’Dea Hein, Managing EditorNew York—The constrained retail environment poses challenges for mixed-use developers but some are finding innovative tenants for their commercial spaces. In Manhattan, Gotham Organization Inc. has leased 7,200 square feet at its Nicole luxury rental building to a childcare program that offers cultural experiences with leading performing arts organizations in…
Read MoreApartments Remain Relatively Undamaged by Economic Crises through Third Quarter
By Keat Foong, Executive EditorNew York—Apartment fundamentals on a nationwide basis remained relatively healthy through the third quarter despite the economic and financial crises. “At least through September, the apartment market has held up surprisingly well given the tough environment,” said Mark Obrinsky, chief economist at the National Multi Housing Council (NMHC). NMHC’s “Market Trends”…
Read MoreCapital Insights with Jack Kern: Two Feds are Better than One
In a stunning announcement, Timothy Geithner was named as President Elect Obama's pick for Treasury Secretary, replacing Henry Paulson. To give you some idea, "Timothy F. Geithner became the ninth president and chief executive officer of the Federal Reserve Bank of New York on November 17, 2003. In that capacity, he serves as the vice…
Read MoreMulti-Housing Executives Update: NAREIT Appoints 2009 Officers, and Other Moves
By Anuradha Kher, Online News EditorWashington, D.C.–The National Association of Real Estate Investment Trusts (NAREIT) has announced its 2009 officers, members of its executive committee and new members of its board of governors. Constance B. Moore, president and CEO of BRE Properties Inc. is the new chair. “We approach 2009 in the midst of turbulence…
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