Archive for April 2009
Fannie Mae Invested Over $35B in MF Financing in ’08, Red Mortgage Capital Was Top Lender
By Anuradha Kher, Online News EditorWashington, D.C.–Fannie Mae invested a total of $35.5 billion in multifamily housing in 2008. Red Mortgage Capital, Citibank and Sovereign Bank, FSB produced the greatest volumes in flow (all loans including Delegated Underwriting and Servicing), seasoned pools and structured transactions, contributing over $9 billion dollars collectively. Fannie Mae also announced…
Read MoreWireless Internet as Retention, Advertising Tool
By Anuradha Kher, Online News EditorAuburn, Ala.–Aerowire is a technology company that provides wireless Internet connections to multifamily projects as well as municipalities and offices. The company, which was founded by President Butch Brock three years ago, claims to provide a faster alternative to other high-speed Internet access options by installing a small 12-in. x…
Read MoreMexico’s 561-Acre Coastal Resort Community to Feature Over 6,000 Condo Units
By Anuradha Kher, Online News EditorRiviera Maya, MEXICO–Grupo Grand Coral, owned by Spanish financial houses including Bancaja and Banco de Valencia, has unveiled plans for Grand Coral Riviera Maya, a 6,900-unit resort condominium community located on 561 acres in the coastal town, Playa del Carmen. In addition to the condo project, the $2.5 billion investment…
Read MoreReport from The Middle East
By Bob Koch, Fugleberg Koch ArchitectsThe world economy is challenged by a global crisis that has starved the industry of credit and liquidity. But, not all liquidity is frozen or lost to declining market values. In parts of the Middle East, where Islam and its financial laws are observed, cash is king. In Saudi Arabia, it…
Read MoreMansion on Peachtree Receives GreenGuard Building Construction Certification
By Erika Schnitzer, Associate EditorAtlanta—The Mansion on Peachtree Hotel and Residences, a 42-story condo/hotel tower, has received GreenGuard Building Construction Certification, the first multifamily project in the state to achieve this award. The Certification is based on the requirements of the pending ANSI (American National Standards Institute) standard for newly constructed buildings to prevent mold…
Read More“Capital Insights” with Jack Kern: NAR Proves Renting is a Better Alternative
Probably the best commentary I’ve heard when listening to the housing economists from the National Association of Realtors comes from Forrest Gump, who said: “Stupid is as stupid does.” Forrest Gump (c) Robert Zemeckis, Paramount Pictures 1994 And now the proof: Jed Smith, managing director of quantitative research at NAR was recently quoted as saying,…
Read More“Capital Insights” with Jack Kern: NMHC Pragmatists Try to Call the Bottom
“Whoever knows he is deep, strives for clarity; whoever would like to appear deep to the crowd, strives for obscurity. For the crowd considers anything deep if only it cannot see to the bottom: the crowd is so timid and afraid of going into the water.”Friedrich Nietzsche (1844-1900) At the NMHC Research meeting, just concluded…
Read MoreTODAY’S DEALS: HFF Secures $22.1M Refinancing with Freddie Mac for 236-Unit Rental Community, and Other Transactions
By Anuradha Kher, Online News EditorRancho Cucamonga, Calif.–HFF (Holliday Fenoglio Fowler L.P.) recently secured a $22.1 million refinancing with Freddie Mac for Fairway Palms Apartments (pictured), a 236-unit multifamily community in Rancho Cucamonga, Calif.Working on behalf of institutional investors advised by J. P. Morgan Asset Management – Global Real Assets, HFF senior managing director Whit…
Read MoreMULTI-HOUSING EXECUTIVES UPDATE: Enterprise Community Partners Appoints Alazne Solis as New SVP, and Other Moves
By Anuradha Kher, Online News EditorColumbia, Md.–Enterprise Community Partners Inc. has appointed Alazne (Ali) Solis (pictured) as its new senior vice president. Solis was also recently named policy and corporate affairs executive, which expanded her focus to include the areas of communications, marketing, online services and resource development in addition to public policy. Solis’ complete…
Read MoreAIMCO Slips to No. 3 Spot on Largest Apartment Owners Ranking
By Anuradha Kher, Online News EditorWashington, D.C.–The apartment industry was buffeted by crosswinds in 2008, according to the National Multi Housing Council’s (NMHC) ranking of the 50 largest apartment owners and the 50 largest apartment managers. This is the 20th year since NMHC started the ranking.”The apartment sector is better positioned than most to produce…
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