Archive for March 2009
ASKO Dishwashers with World’s Largest Loading Capacity
The 5000 series XXL dishwashers by ASKO has more usable space than any other dishwasher on the market. These dishwashers have a taller tank that allows for additional usable capacity, while the installation dimensions remain standard.Despite its capacity the XXL dishwashers look small. They can hold up to 17 place settings—that is 40% more than…
Read MoreNew Jersey’s First Affordable Green Project Now Complete
By Erika Schnitzer, Associate EditorJersey City, N.J.—Genesis Cos., a Jersey City, N.J.-based developer of urban communities, recently celebrated the opening of Webb Apartments, a five-story, 40-unit mixed-use community that will be the first 100 percent affordable, green residential building in the state of New Jersey.The redevelopment project is a public-private partnership between Genesis Cos., the…
Read MoreApt. Renters & Condo Buyers Receive Much-Needed Incentives in Increasingly Tough Times
By Anuradha Kher, Online News EditorNew York–As consumer confidence dips and uncertainty abounds over the possible impact of the administration’s new policies, buyers and renters in the multifamily market are feeling increasingly wary. To tackle this, a number of developers and managers are offering a variety of incentives. The most common of them is the…
Read More“Capital Insights” with Jack Kern: Bankers Away…
“I am not worried about the deficit. It is big enough to take care of itself.” President Ronald Reagan Colorado National Bank, Colorado Springs, Colo. just failed. It was taken over by Herring Bank, Amarillo Texas. (I wonder what the logo is for Herring Bank?) Teambank, N.A. of Paola, Kan. just failed. It was taken…
Read MorePhase One of First Fla. Green Residential Community to Open for Sale
By Erika Schnitzer, Associate EditorWinter Park, Fla.—The first phase of The Sage at Winter Park, an Energy Star-certified, 72-unit townhome community developed by Winter Perch LLC, is expected to be the first green certified multifamily development in the state of Florida.According to Ian McCook, founder and president of Nvision, an Orlando, Fla.-based real estate development…
Read MoreTODAY’S DEALS: Arbor Closes $17.5M Fannie Mae DUS ARM Loan, and Other Transactions
By Anuradha Kher, Online News EditorShreveport, La.–Arbor Commercial Funding LLC recently completed funding of a $17.5 loan under the Fannie Mae DUS ARM product line to finance the 168-unit complex known as Reflections of Island Park (pictured) in Shreveport, La.The 10-year loan amortizes on a 30-year schedule and carries an adjustable note rate of 4.58…
Read MoreMULTI-HOUSING EXECUTIVES UPDATE: Western National Group Appoints Laura Khouri as President of Multifamily Subsidiary Co., and Other Moves
By Anuradha Kher, Online News EditorIrvine, Calif.–Western National Group has appointed Laura Khouri (pictured) as the president of the Multifamily Ancillary Group (MAG), a subsidiary of Western National Group. Included under the MAG umbrella are California Utility Billing Services (CUBS), a utility billing service provider, and iMAG, a renter’s insurance provider. In addition to CUBS…
Read MoreNational CORE to Upgrade to Yardi Voyager 6.08.22
By Anuradha Kher, Online News EditorWashington, D.C.–EverGreen Solutions is working with affordable housing developer and manager, National Community Renaissance (National CORE), to assist the company in upgrading to software platform Yardi Voyager 6.08.22.EverGreen Solutions will be involved in business process re‐engineering, implementation of modules such as construction, PaySCAN for invoice processing, check scanning within the…
Read More$40M Green Affordable Housing Fund Will Help Build 500 Green Homes
By Anuradha Kher, Online News EditorLos Angeles–As the California market continues to look for new sources of capital to fund construction of much-needed affordable housing, Enterprise Community Investment Inc. and four long-term financial partners have launched a green affordable housing fund for the Golden State.The $40 million Enterprise California Green Communities Fund will help finance…
Read MoreTODAY’S DEALS: NorthMarq Capital Arranges $22.26M Combined Mortgage for Two Apartment Complexes, and Other Transactions
By Anuradha Kher, Online News EditorOverland Park, Kan.–NorthMarq Capital’s Kansas office has arranged combined first mortgage financing of $22.26 million for two apartment complexes located in Overland Park, Kan. Claremont Apartments features 336 units and was financed at $18.86 million. The 98-unit Coventry Oaks Apartments was financed at $3.4 million. Financing for both these multifamily…
Read More