Archive for December 2008
Capital Insights with Jack Kern: Call Dr. Kervorkian
As we near the end of 2008, it probably comes as no surprise, that the Dr. Kervorkian of automobile investing, Tracinda Corporation's billionaire investor Kirk Kerkorian, has sold off all of his remaining shares of Ford Motor Co. Having successfully purchased almost $1 billion in shares at an average price of $7.10, Kerkorian sold approximately…
Read MoreCaesarStone Launches New Line of Colors for Quartz Surface Collections
CaesarStone has introduced Color Expressions 09, a new series of premium quartz surfaces, featuring eight new colors to be added to its existing line of over 40 innovative colors, including multiple textures and finishes.CaesarStone’s quartz surfaces are designed to complement all applications, from traditional to contemporary.The new color series includes:Smoky Ash: This recycled color comprised…
Read MoreLEED Gold Mixed-Use Community Planned for Houston Suburb
By Erika Schnitzer, Associate EditorPearland, Texas—Historic Real Estate Inc., a Houston-based private real estate investment and development company, has released plans for the WaterLights District, a $700 million, 155-acre master planned community designed for LEED (Leadership in Energy and Environmental Design) Gold certification.WaterLights will offer up to 1,400 residences, in addition to retail, offices, restaurants,…
Read MoreTODAY’S DEALS: Alliant Capital Closes $4.5M Apartment Loan, and Other Transactions
By Anuradha Kher, Online News EditorEverett, Wash.–Alliant Capital LLC recently provided $4.5 million in financing for the Parkview Apartments (pictured), an 84-unit garden-style apartment community built in 1981. The property is comprised of seven residential buildings. Parkview is financed under Alliant’s Fixed + One program and it has a 10-year term with 30-year amortization. Meridian…
Read MoreInternational Groups to Tackle Affordable Housing as Global Real Estate Challenge
(This story first appeared on the Commercial Property News Web site.)New York–On a global level, there are no geographical boundaries when it comes to affordable housing shortages. And with that topic in mind the United Nations Economic Commission for Europe (UNECE) recently held a seminar in New York City along with its Real Estate Market…
Read MoreAverage Cost for Apartment Property Insurance Fell 11% YOY
By Anuradha Kher, Online News EditorWashington, D.C.–Apartment firms benefited from lower insurance costs across the board and more insurance availability in 2008, according to the National Multi Housing Council’s (NMHC) annual Apartment Cost of Risk Survey (ACORS). On average (nonweighted), apartment firms saw a 17 percent price decrease in 2008. This compares favorably with the…
Read MoreRealPage Adds New Resident Technology Solutions Group
By Anuradha Kher, Online News EditorCarrollton, Texas–Henry Pye and his JPI Resident Solutions team of multifamily technology advisors will join RealPage, effective January 1, 2009. They will continue to provide resident services and technology consulting to multifamily owners, developers, managers and builders under the newly created Resident Technology Solutions group within the Velocity division of…
Read MoreGuest Column: Overcome NIMBY Opposition Before it Stalls Your Project
esolved in other ways. When negotiation is the only answer, then there are three types of concessions to consider during negotiation:Your project can be modified to remove the real or perceived threat to neighbors’ interests. Project modifications often involve physical changes related to density, height, acreage, use and so on.Unavoidable negative impacts can be reduced…
Read MoreTODAY’S DEALS: Kennedy Wilson Sells 153-Unit Rental Community for $21.9M, and Other Transactions
By Anuradha Kher, Online News EditorNorwalk, Calif.–Following its carefully constructed three-year asset disposition plan, Kennedy Wilson Multifamily Management Group (KW Multifamily) has sold The Courtyards, a 153-unit apartment community at 12401 Studebaker Rd. in Norwalk, Calif., for $21.9 million. Advanced Real Estate Services Inc., a tenants in common (TIC) syndicator purchased The Courtyards.Located at the…
Read MoreMulti-Housing Executives Update: Jon Red Appointed Director in Arbor’s Spokane Office, and Other Moves
By Anuradha Kher, Online News Editor Spokane, Wash.–Arbor Commercial Mortgage has appointed Jon Red (pictured) to director in Arbor’s Spokane, Wash. office. Red is responsible for originating Fannie Mae, FHA and structured transactions throughout the northwest and western U.S.Prior to joining Arbor, Red served as vice president, wholesale regional sales director of the Commercial Real Estate…
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