Archive for April 2009

By Anuradha Kher, Online News EditorRockville, Md.–The credit quality of rental applicants to multifamily homes has gone up as a result of the recession, according to the Multifamily Applicant Risk Index (MAR Index) released by First Advantage SafeRent Inc. The first quarter national MAR Index, including studios, one-, two-, three- and four-bedroom units, was 100,…

By Anuradha Kher, Online News Editor Seattle–Alliant Capital LLC has originated $160 million in multifamily loan originations during the first quarter of 2009. The Alliant Capital team rounded out the quarter finalizing more than $48 million in the last two weeks of March, closing 13 various loan and property type deals in seven states.  “With the…

By Erika Schnitzer, Associate Editor Norfolk, Va.—For Rent Media Solutions has launched a Leads Dashboard, which offers a streamlined approach for property managers to monitor their advertising performance and drive more leads.As the industry has evolved and there are increasingly more ways to drive traffic to communities—such as print and Internet advertising, text messaging and…

By Anuradha Kher, Online News EditorNew York–Building owners and property managers are looking carefully at their oil delivery companies and their heating oil bills, after a spate of reports recently of heating oil “shorts.” With oil being a major cost factor in operating a building, property managers are taking precautions by setting up verification systems,…

By Anuradha Kher, Online News EditorWashington, D.C.–National vacancy rates for rental housing in the first quarter of 2009 were 10.1 (+ 0.4) percent, according to the latest figures released by the Census Bureau.  Meanwhile, apartment vacancy rates for the same time period stood at 7.2 percent, Grub and Ellis found.     The overall rental vacancy…

By Keat Foong, Executive Editor Joppatowne, Md.—How is it possible to obtain a construction loan from a bank in this market? Here is how it was done for Harborside Apartments. Meridian Capital Group arranged a three-year $10 million loan for an extension of the 300-unit garden-style apartment property. The loan will fund the construction of…

By Anuradha Kher, Online News EditorDallas–The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $5.8 million refinancing for Seatree Apartments (pictured), a 220-unit multifamily community in southeast Houston.HFF placed the 10-year, fixed-rate loan with Freddie Mac (Federal Home Loan Mortgage Corp.).  The new loan allows Seatree Properties Ltd. to completely pay off…

Washington, D.C.–The U.S. Green Building Council (USGBC) has released the Leadership in Energy and Environmental Design (LEED) regional credits as part of LEED 2009, the new version of the LEED Green Building Rating System. These LEED credits encourage that regional environmental priorities be addressed when it comes to the design, construction and operations of buildings…

By Erika Schnitzer, Associate EditorLas Vegas—Real estate development firm George Gekakis Inc. (GGI) and Silver State Housing,  GGI’s nonprofit sponsor, have broken ground on McKnight Senior Village II, the second phase of a 187-unit affordable rental housing development for seniors 55 and older. “The project is located near downtown Las Vegas and is helping to…