Archive for April 2009
Riverstone Provides Unemployment Protection to Renters in its Communities
By Anuradha Kher, Online News EditorDallas–Joining the ranks of several other multifamily companies, Riverstone Residential is now offering a pink slip protection program to residents across its communities.Residents who lose their jobs can remain in their apartments under Riverstone’s protection plan. For less than $10 a month, the Pink Slip Protection program covers a significant…
Read MoreTODAY’S DEALS: PNC Arranges $101M Fannie Mae Dus Refi Loan, and Other Transactions
By Anuradha Kher, Online News EditorPittsburgh–PNC recently arranged Fannie Mae DUS refinancing totaling $101.9 million by two of its real estate businesses for multiple Associated Estates Realty Corp. properties, along with St. Mary’s Villa Apartments, Mountain View Estates and Convict Hill Apartments. Red Mortgage Capital Inc., now a part of PNC, provided Fannie Mae DUS…
Read MoreFagor Products are Ideal for Universal Design and ADA-Compliant Kitchens
Fagor’s side-opening 24-in. European convection wall ovens are available in right or left hinge swing door options. This convenient design eliminates the need for bending over a hot oven door and can be installed at any height for added convenience. The ovens can be mounted at any height to suit the layout and limitations of…
Read MoreMcShane Construction Completes 352-Unit Apartment Community Ahead of Schedule
By Erika Schnitzer, Associate EditorRincon, Ga.—McShane Construction Co. of Rosemont, Ill. has completed The Springs at Effingham, a 430,000-sq. ft., 352-unit apartment community, for developer/owner Continental Properties Co. Inc., based in Menomonee Falls, Wis.The project, which broke ground in November of 2007 and was completed in February 2009, was finished ahead of schedule, despite the…
Read MorePrivate Security Services Become Increasingly Common Across Multifamily Communities
By Anuradha Kher, Online News EditorSacramento, Calif.–Private security services, provided as an amenity as well as necessity, have become increasingly common on site at multifamily communities. When small problems such as domestic disturbance or petty theft occur on a property, having private security services can be more efficient than calling 911. As a result, some…
Read MoreNational CORE Consolidates Systems, Selects Yardi Voyager
Santa Barbara, Calif.—Affordable housing provider National Community Renaissance (National CORE) has selected Yardi Voyager for its reporting, compliance and property management processes. Prior, National CORE utilized two separate property management systems to manage more than 70 properties. With Yardi Voyager Affordable Housing, National CORE now draws data from across the entire organization into one centralized database,…
Read MoreEco-Friendly Pest Management
By Patrick T. Copps, Orkin, Inc. As the demand for multifamily living grows, competition for residents is higher than ever. This trend, coupled with the fact that consumers are required to make tough decisions in the current economic climate, means your property must go beyond standard amenities to attract residents and remain at maximum capacity. Multifamily…
Read More‘Gimme Shelter’ with Daniel Gehman: A Better Mousetrap
It is a balmy Southern California evening as I sit on the porch to write this post. The seasons are clearly changing as we slip further into spring, which definitely feels like the beginning of summer. The harbingers of change continue to abound for the housing industry, signaling the stirrings of a return to better…
Read MoreTODAY’S DEALS: Love Funding Secures Over $9M for 216-Unit Rental Community, and Other Transactions
By Anuradha Kher, Online News EditorWashington, D.C.–Love Funding has closed a $9,401,500 refinance loan for a multifamily housing complex located in Colorado Springs, Colo. The firm was able to secure FHA financing for the transaction.Love Funding closed the loan for the 496,623 sq. ft., 216-unit Apollo Village (pictured). By utilizing HUD’s 223(f) loan program, Love…
Read MoreMULTI-HOUSING EXECUTIVES UPDATE: Ric Holway Joins Hendricks & Partners as Partner in Phoenix Office, and Other Moves
Phoenix–Ric Holway (pictured) has joined Hendricks & Partners as a partner in the firm’s Phoenix office. Prior to this, Holway worked with a national investment brokerage competitor, where he was a senior vice president and was consistently ranked one of the firm’s top apartment brokers nationwide. “After investing 17 years of my life growing relationships…
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