Archive for December 2008
TODAY’S DEALS: KeyBank Real Estate Capital Closes $53.7M Loan for Four New England Seniors Housing Properties, and Other Transactions
By Anuradha Kher, Online News Editor Boston, Durham, N.H. and Bennington, Vt.–KeyBank Real Estate Capital recently provided a $53.7 million loan to Capital Health Group for four seniors housing properties in the Northeast.KeyBank provided $24.8 million through Fannie Mae’s DMBS product for two Boston-area properties, including Forge Hill Senior Living and The Inn at Robbins Brook.…
Read MoreValli & Valli’s Hardware Series Inspired by Love
Valli & Valli, in partnership with Milan-based designer Fabio Novembre, has launched a new collection of hardware inspired by love.The series includes door handle`, window handle, window handle with four-click-position movement, door knob, pull handle, hook, coat hook, escutcheon, privacy set, door key and furniture fitting.An architect and designer, Novembre is best known for his…
Read More38-Story Condo Tower Opens in Downtown Seattle
By Anuradha Kher, Online News EditorSeattle–Opus Northwest has opened Fifteen Twenty-One Second Avenue, the company’s newest condo high-rise, located in downtown Seattle. Residents will begin moving into the 38-story building next week. The project is about 95 percent sold. “There is some softness in the market, but it’s fairly stable” Tom Parsons, senior vice president…
Read MoreRenovation of Historic Apartments by UIP Is Underway
By Anuradha Kher, Online News EditorWashington, D.C.–Urban Investment Partners of Washington, D.C. (UIP) has begun a $2.6 million renovation of The Biltmore, a 94-year-old apartment building that once housed luminaries such as President William Howard Taft and journalist Carl Bernstein. Located at 1940 Biltmore St., N.W., The Biltmore overlooks Rock Creek Park in Washington’s Kalorama…
Read MoreHudson Tea: Three Distinct Model Units Speak to Different Demographics at Toll Brothers’ Hoboken Condo
By Erika Schnitzer, Associate EditorFor a slide show of this project see “Hudson Tea: Three Distinct Model Units.”Originally the Lipton Tea headquarters, Hudson Tea in Hoboken, NJ boasts 13-ft. ceilings with oversized picture windows, hardwood floors, marble bathrooms, granite countertops and stainless steel appliances. “The ceiling height is not something that exists in many places…
Read MoreMontgomery County, Md. Launches First Workforce Housing Sponsored under New Local Legislation
By Erika Schnitzer, Associate EditorRockville, Md.—The Housing Opportunities Commission (HOC), the Department of Housing and Community Affairs (DHCA) and the city of Rockville, Md. recently launched Montgomery County’s first workforce housing condominiums sponsored under the county’s new legislation. These condos are called the Village at King Farm, a 49-unit community in Rockville.“What we want to…
Read MoreHousing Agencies Praise Shaun Donovan’s Appointment as New HUD Secretary
By Anuradha Kher, Online News EditorWashington, D.C.–President-Elect Barack Obama has appointed Shaun Donovan, New York City’s former commissioner of Housing Preservation and Development (HPD), as the new secretary of the Department of Housing and Urban Development (HUD). Obama said Saturday that Donovan will play a key role in tackling the mortgage crisis and helping families…
Read MoreMulti-Housing Executives Update: For Rent Media Solutions Promotes Terry Slattery to President, and Other Moves
By Erika Schnitzer, Associate Editor Norfolk, Va.—Terry Slattery has been promoted to president of For Rent Media Solutions, a resource for searching apartments nationwide. In this position, Slattery will oversee all aspects of print, Internet, production and operations for the company’s publications and Websites, including ForRent.com, For Rent Magazine, Apartamentos Para Rentar, CorporateHousing.com and After…
Read MoreTODAY’S DEALS: KeyBank Closes $29M in Loans for Three Senior Housing Properties, and Other Transactions
By Erika Schnitzer, Associate Editor Bakersfield, Calif.—KeyBank Real Estate Capital has closed $29 million in Fannie Mae loans for three Pacifica Companies’ “Oakdale Heights” senior housing properties.KeyBank’s financing included $10.7 million for a 78-unit property in Bakersfield, Calif. (pictured), $9.3 million for an 86-unit community in Virginia Beach, Va., and $9 million for 87 units…
Read MoreU.S. Energy Group Launches Solar Power Initiative; Co-Op Used in Prototype
By Erika Schnitzer, Associate EditorFresh Meadows, N.Y.–U.S. Energy Group, a firm that develops and integrates energy control, monitoring and analysis systems for large residential properties, has launched USE Solar, a new solar energy initiative that focuses on the potential for multifamily and commercial buildings to use solar power.U.S. Energy Group manufactures and monitors approximately 4,000…
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