Archive for November 2008
TODAY’S DEALS: Arbor Closes over $4M Fannie Mae DUS Loan for 204-Unit Rental Community, and Other Transactions
By Anuradha Kher, Online News EditorHouston–Arbor Commercial Funding LLC recently arranged a $4,699,500 loan under the Fannie Mae DUS product line to finance the 204-unit Sebring Apartments, located in Houston.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.58 percent. “There were several major hurdles to overcome in closing this loan…
Read MoreSurvey of Architects Shows Multifamily Sector Is Rapidly Adopting Green Building Technologies
By Anuradha Kher, Online News EditorBoston–A majority of architects say that multifamily buildings, as well as other commercial buildings, are going green more than other building types (institutional, single-family and industrial), according to the fourth annual Autodesk/AIA Green Index released this week at the GreenBuild Conference and Expo in Boston. This year, the survey measured…
Read MoreMMM Launches Commercial Real Estate Debt Management Practice
By Anuradha Kher, Online News EditorAtlanta–To help companies and individuals struggling with the credit crisis, Morris, Manning & Martin LLP, a law firm based in Atlanta, has launched a commercial real estate debt management practice, offering legal support and practical business advice to real estate owners. Due to the state of the economy and the…
Read MoreBuildingGreen’s 2008 Top 10 Green Building Products
Boston—BuildingGreen LLC has announced the names of this year’s top 10 green building products in a press conference at the U.S. Green Building Council’s (USGBC) 2008 Greenbuild Expo in Boston. The seventh annual awards program recognizes the top products listed in the GreenSpec Directory, a national directory of green building products, and in Environmental Building…
Read MoreDealing with the Crisis: Roundtable Participants
MODERATORSScott MelnickTranswestern Institutional Multifmaily Group“Al [Cissel] and I have been partners at Transwestern for the past seven years, and we have a common thread with everybody here. We did make sure that we invited people that we closed deals and worked with over the last year or so, and we look forward to more opportunities.”Al…
Read MoreQ&A with Kate Santo: More of Our Corporate Transferees are Renting Prior to Buying in Chicago
Kate Santo (pictured) is a relocation coordinator at Chicago-based Rubloff. Rubloff Residential Properties was founded in 1930. As a relocation coordinator, Santo places Rubloff clients and new transferees with brokerage firms nationwide and internationally. Santo’s job is to understand her clients’ needs and to facilitate transition to a new city, as smoothly as possible.Santo is…
Read MoreTODAY’S DEALS: Marcus & Millichap Arranges Sale of 42-Unit Community for Close to $10M
By Anuradha Kher, Online News EditorFoster City, Calif.–Marcus & Millichap Real Estate Investment Services recently arranged the sale of Kula Kai Apartments (pictured), a 42-unit multifamily community in Foster City, Calif. Although the sale price remains confidential, it is close to the listing price of $10.9 million, or nearly $260,000 per unit. The sale price…
Read MoreProducts from the Greenbuild Show Floor
Architectural Area Lighting Offsets Carbon Emissions Architectural Area Lighting (AAL) introduces its Cubic Indirect fixture, which utilizes LEDs (light-emitting diodes). With an angular design and stainless steel vertical struts, the fixture is available in a square or round upper reflector, designed to direct the illumination to the ground with no stray light, resulting in more…
Read MoreColliers Abood Wood-Fay Launches Distressed Property Services Group
Miami–Colliers Abood Wood-Fay recently launched its Distressed Property Services Group. The group brings together an integrated team of resources, disciplines and professionals with over 75 years combined experience in managing distressed assets in inflationary or recessionary markets. The Distressed Property Services Group offers investment sales; capital markets financing; acquisitions and dispositions for equity and debt;…
Read MoreGreen Building is Bright Spot in Otherwise Tough Economy: Multifamily Projected to Spend $41B in Green Dollars in 2009
By Anuradha Kher, Online News EditorNew York–The U.S. green building market is accelerating at a dramatic rate, McGraw-Hill Construction’s Green Outlook 2009: Trends Driving Change report says. The value of green building construction starts was up five-fold from 2005 to 2008 (from $10 billion to $36-$49 billion), and could triple by 2013, reaching $96-$140 billion,…
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