Archive for May 2009
85-Year-Old Project Opens with New Childcare Center After Renovations
By Anuradha Kher, Online News EditorWashington, D.C.–Move-ins have begun at the 27-unit Ontario Court Apartments where the Jubilee JumpStart Early Childhood Development Center has also been built. Located at 2525 Ontario Road, NW, in the Adams Morgan neighborhood in northwest Washington, D.C. the newly renovated $9 million redevelopment project is the result of a public-private…
Read MoreEditor’s Note: Can Social Responsibility Increase NOI?
By Diana Mosher, Editor-in-ChiefThe debate continues about whether apartment residents will pay more for green living, but clearly demand is growing within certain demographics and interest is quickly spreading to others. And it’s on all of our minds. Recently NMHC’s Kim Duty shared an interesting article “Green Renting: Tenants Desire Eco-Friendly Digs” with members of…
Read MoreINSIDE THE DEAL: HFF Arranges Sale of Performing Loans
By Keat Foong, Executive Editor Chicago—Some developers are contemplating getting ready for the purchase of distressed loans. Here is an example of a sale transaction of performing loans. The Loan Sales group of HFF (Holliday Fenoglio Fowler LP) completed the sale of four performing first mortgage commercial loans for $31 million on behalf of Nationwide…
Read MoreTop 10 Rules for Green Success
t has been nurturing a long list of sustainable initiatives from the recycling of carpets to the use of organic pesticides and cleaning products. Energy savings and water conservation are also top priorities at Post. For example, the company recently instituted an internal energy-savings awards program, and the results were dramatic.Twice a year, the company’s…
Read More‘Gimme Shelter’ with Daniel Gehman: Just Wait
Ah, it’s the last day of my (brief) “staycation.” I’m sure you can relate to the idea of having a huge list of things to do and only accomplishing a few of them. How does this happen? The simple answer is that those of us who plan to do things are in a select group—those…
Read MoreApartmentBids.com Launches Website to Simplify Matching Managers with Renters
By Erika Schnitzer, Associate EditorChicago—ApartmentBids.com has launched a new Website to connect property managers and residents based on information in prospective renters’ profiles.“We provide information about properties and surrounding neighborhoods and we provide managers with qualified information about renters,” Nirav Patel, co-founder of ApartmentBids.com, tells MHN. “The key to quality leads is that the profiles…
Read MoreTODAY’S DEALS: Boston Capital Closes Tax Credit Fund With $120M Equity, and Other Transactions
By Anuradha Kher, Online News EditorBoston–Boston Capital recently closed the Boston Capital Tax Credit Fund XXXI, a nationally diversified portfolio of 30 affordable apartment properties in 12 states with total equity invested of $120 million. With this closing, Boston Capital has invested $640 million in equity since January 2008. “At a challenging time for the…
Read MoreNew PollenTec Screens Let The Breeze In While Keeping Allergens Out.
The PollenTec screen is a new product that allows property owners and managers to fit windows and doors with screens that keep pollen out, while still letting the breeze in.According to some reports, 50 million people in North America are affected by allergies and almost 55 percent of the population test positive for at least…
Read MoreRestructuring Expert Recap Advisors Changes Name to CAS Financial Advisory Services
By Keat Foong, Executive EditorDallas—Financial advisor and asset manager Recap Advisors has changed its name to better reflect its broadened capabilities. CAS Partners announced that Recap Advisors, its financial advisory services and asset management business unit, is now rebranded as CAS Financial Advisory Services. The 20-year old CAS Financial Advisory Services “has been an acknowledged…
Read MoreRents Still Increasing in Seniors Housing Industry
By Anuradha Kher, Online News EditorNew York–Rents for nursing homes, in-home care and assisted living kept growing in 2009, according to a new study conducted by Richmond, Va.-based insurer Genworth Financial Inc. The average annual rent for a private room in a nursing home is $74,208, or $208 per day, a 4.7 percent boost over…
Read More