Archive for December 2008
Capital Insights with Jack Kern: It’s A Wonderful Life, Unless You’re a Banker…
"I think we will see a rebound in the economy partly because of this substantial easing that we've seen from the Fed, but I think it will be delayed. I think we are likely to see clear evidence of this emerging towards the end of the fourth quarter this year and a rebound well under…
Read MoreTODAY’S DEALS: Campus Crest Communities, Harrison Street Real Estate Form $220M JV to Develop 10 Student Housing Communities, and Other Transactions
By Anuradha Kher, Online News EditorCharlotte, N.C.–Campus Crest Communities and Harrison Street Real Estate Capital have come together to form a $220 million joint venture to develop 10 “fully‐loaded” student living communities across the U.S. The firms believe this will be the first phase in a long-term relationship between the two organizations.The new developments, all…
Read MoreExpansion of Southern California CCRC Condominiums Now Complete
By Erika Schnitzer, Associate EditorSan Diego–Classic Residence by Hyatt, a developer, owner and operator of senior living communities, recently celebrated the completion of its $147 million expansion of Hyatt at La Jolla Village, a Type A continuing care retirement community (CCRC). The new North Tower, which offers an additional 184 units and a new community…
Read MoreSolomon Organization Wins Nine Awards from State Apartment Association
By Anuradha Kher, Online News EditorSummit, N.J.–The Solomon Organization LLC has won nine awards from the 2008 Apartment Association of Central Pennsylvania (AACP). The annual “Best of Living Awards” program is an acknowledgement of excellence within the apartment industry in Central Pennsylvania. Solomon’s Mayfair Manor at Grandview Heights community, in Lancaster, Pa., claimed the awards…
Read MoreNew Jersey Apartment Association Hosts 1,000 Less Fortunate Children at Annual Holiday Party
By Anuradha Kher, Online News EditorMonroe Township, N.J.–For the eleventh consecutive year, the New Jersey Apartment Association (NJAA) hosted its Annual Children’s Holiday Party with over 1,000 less fortunate children at the Meadowlands Racetrack. The children enjoyed a day of fun and entertainment and a visit from Santa Claus with toys for all. The party…
Read MoreLatest Fed Rate Cut Will Free Up Capital, Increase Competitiveness in MF Lending Market
By Anuradha Kher, Online News EditorNew York–The U.S. Federal Reserve has slashed its key interest rate to the lowest level on record in its latest attempt to stymie a sharp slowdown in the economy amidst the holiday season.The Fed’s Open Market Committee cut its benchmark rate to between 0 percent and 0.25 percent, from 1…
Read MoreEDITOR’S NOTE: CPSC Clarifies Pool Drain Enforcement Plans
Being based in New York City, where we’re currently seeing a wet snowfall, my thoughts at this time of year typically do not revolve around swimming pools. Until today, when pool drains became front-page news that property managers need to take note of.Several press releases had alerted me to watch the “Today” show this morning,…
Read MoreHow Property Managers Can Cut Utility Costs
By William Moseley, Director of Operations for California Utility Billing ServicesLike all professionals in the real estate industry, multifamily property managers have had their priorities dramatically shifted by the current economic downturn. The combination of falling housing prices and the growing unemployment rate has made attracting and retaining residents a more difficult task. Consequently, some…
Read MoreEye on the Economy with Adam Perrotta
As the holidays approach, observers of the economy are likely in anything but a festive spirit. A rash of recent news has proven that the turmoil is far from over, and the situation may well become significantly worse before it gets better. The auto industry’s requested bailout remains in limbo at the moment, with President…
Read MoreCapital Insights with Jack Kern: I’m Dreaming of a Bleak Christmas…
This is an unprecedented time, as far as I can tell. In the height of the holiday season, when thoughts usually turn to snow angels, twinkling lights and shopping deals, the reverie usually reserved for festive parties has been stolen and replaced by endless news about layoffs, failed federal policy responses and endemic fears about…
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