Archive for February 2009
“Capital Insights” with Jack Kern: Has The Treasury Department Failed?
Governor Le Petomane: ” …We’ve got to protect our phony baloney jobs, gentlemen. We must do something about this, immediately, immediately, immediately!” Blazing Saddles, nominated for an Oscar in 1975 (c) Mel Brooks, Warner Bros. Pictures 1974 The World According to TARP, as it’s now known, has been fraught with an overwhelming sense of failure.…
Read MoreMotion Sensor Controlled Occu-Smart Lights Cut Energy Costs By 85 Percent
LaMar Lighting has introduced a patented line of lighting products called occu-smart. Occu-smart lights use motion sensor controlled bi-level lighting, which make them energy-efficient with savings of up to 85 percent. Sparsely occupied areas such as stairwells and corridors in multifamily buildings average only 2 percent occupancy, meaning that lights are often left on full-illumination…
Read MoreTODAY’S DEALS: Gebroe-Hammer Associates Negotiates Sale of 144-Unit Apartment Community for Over $11M, and Other Transactions
By Anuradha Kher, Online News Editor Hamilton Township, N.J.–Gebroe-Hammer Associates has recently negotiated the $11.125 million sale of Miry Run, a 144-unit garden apartment community, in Hamilton Township, N.J. Located at 145 Brookwood Rd., the community features 108 one-bedroom and 36 two-bedroom units. The property was 98 percent occupied at the time of sale. Located in…
Read MoreAt Over $400B, Wachovia Tops MBA’s List of Multifamily, Commercial Loan Servicers for 2008
By Anuradha Kher, Online News EditorSan Diego–Wachovia Securities with $412.9 billion in U.S. master and primary servicing topped the Mortgage Bankers Association’s (MBA) annual ranking of commercial and multifamily loan servicers (as of the end of 2008) released during MBA’s Commercial Real Estate (CREF) Convention currently being held in San Diego. PNC Real Estate/Midland Loan…
Read MoreThree National Companies Join Forces to Leverage Multifamily Skills
By Erika Schnitzer, Associate EditorCincinnati—Huff McDermott, Assurance Property Management and the National Condo and Apartment Insurance Group have announced an alliance to help investors overcome the obstacles of multifamily acquisitions and ownership. “It made sense to offer this as a coalition for multifamily investment,” Frank Constant, President of Assurance Property Management, tells MHN. The companies have…
Read MoreCondo.Com Showcases A Unique Floating Condo Development
By Anuradha Kher, Online News EditorMiami–Condo.com has added River Cities Condos to its online real estate inventory. River Cities Condos’ initial offering, the Marquette, is a 600-ft. long, 108-ft. wide vessel consisting of four river barges connected to form a platform, which will house 185 to 200 condo units.The Marquette will travel a total of…
Read MoreHouston Housing Authority High Rating from Standard & Poor’s
By Anuradha Kher, Online News EditorHouston–Standard and Poor’s credit rating organization has assigned an “AA-” rating to the Houston Housing Authority. AA is the highest a housing authority has ever received from S&P.According to S&P, “the Houston Housing Authority effectively balances maintaining a level of financial stability with achieving its overall public purpose goals.”“The S&P…
Read More“Gimme Shelter” with Daniel Gehman: Time and Paradigm, Part 1
I saw the decade in, when it seemed The world could change at the blink of an eye And if anything then there’s your sign of the times I was alive and I waited I was alive and I waited for this I am indebted to the band Jesus Jones for those lyrics, from a…
Read MoreTODAY’S DEALS: Meridian Capital Group Arranges $55M First Mortgage for AvalonBay, and Other Transactions
By Anuradha Kher, Online News EditorSmithtown, N.Y.–Meridian Capital Group, on behalf of AvalonBay Communities, has arranged a first mortgage loan of $55,100,000 for the refinance of Avalon Commons (pictured) in Smithtown, N.Y. The property is a garden-style residential community consisting of 312 units spread over 13 buildings. The community features beautifully landscaped gardens, an outdoor…
Read MoreMulti-Housing Executives on the Move: Cole Heard Joins CMG as SVP/Division Director, and Other Moves
By Anuradha Kher, Online News EditorIrving, Texas–Cole Heard (pictured) has joined CMG as the senior vice president/division director. She is responsible for the daily operations of the firm.Cole has more than 13 years of multifamily real estate experience and has worked for some of the largest third-party and owner-operated student-housing firms in the United States.…
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