Archive for March 2009

By Anuradha Kher, Online News Editor Miami–CondoReports.com has recently launched its Web site, which utilizes proprietary technology to offer free reports and information on nearly 2,000 condominium and townhouse communities in Miami-Dade County in Florida. The Web site provides market information, pricing, sales, listings, foreclosures and ownership for each building.  “Whether you’re a buyer, seller, owner,…

By Anuradha Kher, Online News EditorMcLean, Va.–Freddie Mac’s board of directors has named John A. Koskinen (pictured) as the company’s interim CEO and Robert R. Glauber as its interim non-executive chairman. Both appointments will be effective upon the resignation of current CEO David M. Moffett, who is resigning from his position as CEO and member…

By Keat Foong, Executive EditorRosenberg, Texas—It is still possible to sell apartments in this market, and the Brazos Ranch transaction brokered by Apartment Realty Advisors (ARA) provides an example of deals that are closing. “In light of the current environment, everyone involved in the transaction was thrilled to get Brazos Ranch closed. Deals are still…

By Anuradha Kher, Online News EditorStamford, Conn.–HFF has arranged $32.2 million in first mortgage acquisition financing on behalf of Seaboard Properties for its purchase of Newbury Common Apartments (pictured) in Stamford, Conn.  HFF worked on behalf of Seaboard in arranging the fixed-rate loan through Freddie Mac (Federal Home Loan Mortgage Corp.). Newbury Common Apartments is…

By Erika Schnitzer, Associate EditorLos Angeles—Urban Partners LLC has received honors for “Outstanding Developer” and “Outstanding Project” in the Los Angeles Business Journal’s real estate awards issue, which is focused on the best in local transit-oriented development.  “Our transit system, relative to the planning process, has been at odds since the end of World War…

By Anuradha Kher, Online News EditorWashington, D.C.– The National Multi Housing Council (NMHC) and National Apartment Association (NAA) will in 2009, working together through their joint legislative program, work on ways to bring about a more balanced federal housing policy toward the apartment market.The two associations say restoring access to capital is the highest legislative…

By Anuradha Kher, Online News EditorNew York–Since the bubble in the resort condominium market burst in 2005, the industry has been facing a decline in prices as well as in number of transactions. Now with the severe downturn in the economy, unemployment and loss of consumer confidence, the industry is suffering all the more.But Anthony…

By Anuradha Kher, Online News EditorRichmond, Va.–Jones Lang LaSalle recently arranged the sale of a pair of student housing buildings on the Virginia Commonwealth University campus in Richmond, Va., for $19.3 million.Kanye Anderson Real Estate Partners purchased the two buildings, RAMZ Hall (pictured), located at 933 West Broad St., and Capital Garage, located at 1301…

By Erika Schnitzer, Associate EditorNew York–The Silhouette (pictured), a four-story, four-unit condominium project in Brooklyn’s Park Slope designed to meet both LEED (Leadership in Energy and Environmental Design) Platinum and Energy Star certification, is slated for completion this summer.“We always had [Energy Star] on our sites, and as the market has changed, you look for…