Archive for November 2008
Book Outlining Ideas to Successfully Build Projects is Finalist for Two Awards
By Anuradha Kher, Online News EditorChicago–Construction Manager J.F. McCarthy’s new book, Choosing Project Success: A Guide for Building Professionals, was recently named a finalist in the Education/Academic and Business: Real Estate categories of the National Best Books 2008 Awards, sponsored by USA Book News as well as in the Business and Education/Academic categories of the…
Read MoreEnterprise, NYSERDA Partner to Provide Grants for Green Affordable Housing
By Erika Schnitzer, Associate EditorNew York—In an effort to encourage green affordable housing, Enterprise and the New York State Energy Research and Development Authority (NYSERDA) have partnered to provide New York State developers with grants of up to $25,000 per project.“The real key with NYSERDA and Enterprise is that we share a common mission around…
Read MoreGrowing Troubles with GM Likely to Take Company’s Mortgage Unit Down
Detroit–With shares of General Motors Corp. dipping to their lowest point in 60 years, the company’s mortgage unit of its finance arm may not survive, the company said in a government filing.Delphi Corp., GM’s former parts operation that was spun off as a separate company in 1999, also might not be able to emerge from…
Read MoreEye on the Economy with Adam Perrotta
Despite the optimism that greeted Barak Obama’s election to the Oval Office, the economy continues to struggle in a variety of areas. While experts continue to disagree as to whether or not an official recession is in the offing (or already taking place), it is clear that the President-Elect will inherit an economy with more…
Read MoreTODAY’S DEALS: NorthMarq Arranges First Mortgage Financing of over $71M, and Other Transactions
By Anuradha Kher, Online News EditorOverland Park, Kan.–NorthMarq Capital Inc.’s Kansas City regional office recently arranged first mortgage financing of $71.186 million for an eight-property apartment portfolio. These multifamily properties are located in Ohio, Colorado and South Carolina and feature a combined total of 1,529 units. Financing was based on a 10-year term with three…
Read MoreNWP’s GreenBill Program
NWP Services Corp.’s (NWP) new fully electronic utility cost recovery solution for property owners and residents, GreenBill, includes features such as electronic bill delivery to residents; electronic resident payment capability; online bill images; online property statements; telephonic resident collections activity; electronically delivered training manuals; electronic utility bill transfer from properties to NWP; electronic property process…
Read MoreHFC to Develop, Manage and Finance First Privatized Overseas Military Housing
By Erika Schnitzer, Associate EditorPyeongtaek, Republic of Korea—In a move that will mark the first time that private-sector developers, builders, managers and capital providers will create military housing on foreign land, the Department of the Army has chosen Humphreys Family Communities LLC (HFC) to design, build, finance and operate the U.S. Army Garrison Humphreys Housing…
Read MoreMelrose Commons Takes the LEED in Green Urban Design
By Anuradha Kher, Online News EditorBronx, N.Y.–The South Bronx community of Melrose Commons was recently honored for its pioneering role in the sustainable design and redevelopment of urban neighborhoods. The project was selected as a member of the Focus Group for the new Leadership in Energy and Environmental Design (LEED) for Neighborhood Development (LEED-ND) pilot…
Read MoreFannie Mae Faces Record Losses
By Anuradha Kher, Online News EditorWashington, D.C.—-Fannie Mae has reported a record loss of $29 billion in the third quarter as the housing slowdown deepened and the agency wrote down a tax-related asset that had buoyed capital.This is the fifth consecutive loss for the company, which has been operating under a government conservatorship since September…
Read MorePERSPECTIVE: Why Budget for Bad Debt?
By Richard Schreiber, president of SureDeposit and Mark Copeland, COO for Alliance Residential Management LLC As budget season approaches, apartment owners and managers are once again budgeting for bad debt – those monies unrecovered by collections after a resident has damaged a unit or skipped out on rent. According to just-released data from the National…
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