Archive for April 2009

By Erika Schnitzer, Associate EditorAnaheim, Calif.—Diamond Apartment Homes, a green multifamily development designed to provide housing and mental health supportive services for previously homeless individuals and their families, recently celebrated its grand opening.The $9.8 million community, which offers 15 one- and 10 two-bedroom units in a three-story building, was developed by Jamboree Housing Corporation, an…

By Anuradha Kher, Online News EditorFindlay, Ohio–Kelly Carmichael’s job is to walk into an apartment leasing office pretending to be someone looking to rent. It is also her job to ask a few questions about the apartments, wait for a member of the leasing office to take her around the community, and finally go back…

Chicago–Harrison Street Real Estate Capital LLC (Harrison Street), a Chicago-based real estate private equity firm, recently appointed Mark Burkemper as senior associate in its acquisition group. In his position at Harrison Street, Burkemper is responsible for assisting the acquisition group in  sourcing, analyzing, and closing transactions and venture relationships within the firm’s areas of specialty…

By Anuradha Kher, Online News EditorTampa, Fla.–HFF (Holliday Fenoglio Fowler, L.P.) recently placed an $18.5 million loan with Freddie Mac for Mallory Square Apartments (pictured), a 383-unit multifamily community in Tampa, Fla. HFF placed the seven-year, adjustable-rate loan–which will also be serviced by HFF–with the lender. Loan proceeds are refinancing a construction loan.  “Freddie Mac…

By Erika Schnitzer, Associate EditorNew York–AvalonBay Communities has received the first NYC Big Apple Brownfield Economic Development Award for its Bowery-area developments.At a ceremony held at the Museum of the City of New York, Fred Harris, senior vice president of development, AvalonBay Communities, accepted the award. The event was the inaugural ceremony of the Brownfield…

By Anuradha Kher, Online News EditorNew York–Mayor Michael Bloomberg announced this week that New York will try to pass legislation mandating environmental changes that could reduce the city’s total carbon output by 5 percent.The proposed legislation is aimed at getting significant-sized buildings to meet tougher energy requirements any time they renovate, to conduct an energy…

By Anuradha Kher, Online News EditorDallas–Humphreys & Partners Architects launched a landscape architecture firm (HPLA) on the occasion of Earth Day, which was celebrated earlier this week.Humphreys LEED APs (Leadership in Energy and Environmental Design Accredited Professionals) specialize in planning and design of sustainable outdoor spaces that are functional, cost-effective, visually pleasing and environmentally friendly.…

By Anuradha Kher, Online News EditorSanger, Calif.–NorthMarq Capital’s Los Angeles office recently arranged a $4 million first mortgage for Tangerine Hill Apartments, a 126-unit multifamily complex located in Sanger, Calif. Financing was based on a seven-year term and a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its seller-servicer relationship with…

By Erika Schnitzer, Associate EditorSeattle—Opus Northwest LLC’s Fifteen Twenty-One Second Avenue, a 38-story, 143-unit luxury condominium development in Seattle, has averaged one new sale per week since the beginning of the year and the building’s official grand opening. And it has closed more than half of the scheduled closings.“We worked very hard to identify and…