Archive for March 2009

By Anuradha Kher, Online News EditorChicago–Alliant Capital LLC has named Aaron Abelson as senior vice president for its Chicago office, a role in which he hopes to elevate the company’s visibility in the Midwest region.In his new position, Abelson will manage the analysis, evaluation and origination of permanent, fixed-rate apartment loans utilizing the Fannie Mae…

By Erika Schnitzer, Associate EditorStone Mountain, Ga.—Isakson Living, a Norcross, Ga.-based developer of senior retirement communities, is offering a new plan to help current and prospective residents sell their existing homes, allowing them to move into Park Springs, a 54-acre, 392-unit community, now.“With this economic climate that we have right now and with the housing…

Alyce Robertson (pictured) is the executive director of the Miami Downtown Development Authority (DDA), an independent agency of the city of Miami. The Miami DDA supports business growth, infrastructure improvements and services for Downtown Miami residents and stakeholders.  Robertson talks to MHN Online News Editor Anuradha Kher about the DDA’s vision for downtown Miami, how…

By Anuradha Kher, Online News Editor Philadelphia–Iron Stone Real Estate Fund II recently completed its second transaction, the purchase of a portfolio of distressed commercial mortgages from Astoria Federal Savings Bank. The portfolio consists of 13 first mortgages collateralized by rental apartment buildings in the Philadelphia Metropolitan Area comprising a total of 358 units. The $50…

By Anuradha Kher, Online News EditorTopeka, Kan.–NorthMarq Capital’s Minneapolis office has arranged combined first mortgage financing of $27.672 million for three apartment complexes located in Topeka, Kan.The Brookfield Estates Apartments, the Crown Colony Apartments (pictured) and the Sherwood Apartments feature a combined total of 680 multifamily units. NorthMarq arranged financing for each of these multifamily…

By Erika Schnitzer, Associate Editor Sacramento, Calif.—Apartment construction in Sacramento is expected to come to a near standstill this year, according to Marcus & Millichap’s 2009 National Apartment Report.Only 100 new units are slated for delivery this year, and the planning pipeline consists of fewer than 2,000 apartments.The main challenges for the Sacramento metro area…

By Anuradha Kher, Online News EditorIndependence, Ore.–Touted as the world’s greenest building, and seeking the highest LEED (Leadership in Energy and Environmental Design) rating ever awarded, Independence Station will feature green concepts such as radiant floor heating and cooling, solar water heating and daylighting design. “This is a Thomas Edison meets Bill Gates project,” says…

By Anuradha Kher, Online News EditorNew Brunswick–At a time when uncertainty about the economy and the housing market, along with the state of the credit markets, has stalled new project development, the Northern New Jersey District Council of the Urban Land Institute (ULI-NNJ) is projecting optimism about the recovery of the housing sector. “This crisis…

By Anuradha Kher, Online News EditorChicago–Since the housing woes began last year, the city of Chicago along with The Partnership for New Communities, has been offering $10,000 as a gift for buyers of units located in six developments that are part of Chicago’s Plan for Transformation. The Plan for Transformation includes replacement of high-rise public…