Archive for May 2009
Apartment Market Conditions Worsen Further, But at Slower Pace
By Anuradha Kher, Online News EditorWashington, D.C.–Apartment market conditions continue to worsen, though the pace is decelerating, according to the National Multi Housing Council’s (NMHC) latest Quarterly Survey of Apartment Market Conditions. While all four market indexes remained below 50 (index numbers below 50 indicate conditions are worsening; numbers above 50 indicate conditions are improving),…
Read MoreMarket Pulse for May
Multifamily Starts:A hefty bounce in February dribbled back down in March to a seasonally adjusted annual rate of 152,000 units—about half of what has met the needs of the market in recent years. Even though there is still quite a bit of empty and foreclosed condo and single-family inventory, failure to start new communities is…
Read MoreOther Market Niches…
By Keat Foong, Executive EditorTo what extent are other multifamily niche markets—namely senior and military housing—potential investment alternatives at this time of the business cycle? The challenges faced by senior housing could be even greater than for conventional apartments. But Robert G. Kramer, president of the National Investment Conference, argues that by early- to mid-2010,…
Read MoreGuest Column: Is it Still Possible to Secure a Local Partner Abroad?
By Amy Jakubowski, BBG-BBGMOver the last two decades, the forces that created emerging economies, as well as recessions, provided an impetus for U.S. design firms to diversify globally. In the late 1980s, for instance, the great emerging Asian economies offered relief to U.S. design firms experiencing the fall-out of the savings and loan scandal and…
Read MoreSoutheast Rebound
and all properties that could be converted [from condos into rentals] were,” says Horner. “When we come out of this cycle and there are no new projects, the properties that went to a rental strategy are ideal to be converted [back] to condos,” he predicts. In terms of Atlanta’s condo market, Horner says that the…
Read MoreMULTI-HOUSING NEWS EXECUTIVES UPDATE: Keystone Pacific Promotes Susan Seifen to Director of Training, and Other Moves
Irvine, Calif.–Keystone Pacific Property Management Inc. has promoted Susan Seifen (pictured) from insurance coordinator to director of training in its Irvine office. A designated Certified Community Association Manager (CCAM) through the California Association of Community Managers (CACM), Seifen plans and coordinates structured in-house training programs for the property management division, as well as oversees the…
Read MoreTODAY’S DEALS: Hendricks & Partners, CBRE Arrange Sale of Three Properties for Over $200M, and Other Transactions
By Anuradha Kher, Online News EditorAliso Viejo and Rancho Santa Margarita, Calif.– Hendricks & Partners and CB Richard Ellis recently arranged the sale of three South Orange County apartment communities with 1,368-units for a total $201,250,000.The properties include:Aventine at Aliso Viejo, a 386-home luxury rental community located at 22501 Chase in Aliso Viejo. which sold…
Read MoreTips for Protecting and Preparing Properties and Residents against Swine Flu
By Erika Schnitzer, Associate EditorWashington, D.C.—With the World Health Organization raising the worldwide pandemic alert of swine flu to Phase 5 , apartment owners and operators need to be aware of the risks of the virus and take certain precautions toward protecting residents and employees.Experts say that with the growing number of swine flu cases…
Read MoreSales Begin at FHA-Approved Condo Building in Brooklyn
New York–Sales have begun at 111 Monroe St., a six-story ground-up residential building in Brooklyn, N.Y. “This property offers comfortable living at an incredible price point,” says David Behin, executive vice president of The Developers Group, the exclusive sales and marketing firm for the project. “111 Monroe is an FHA-approved building, which means that loans…
Read MoreDemand for Apartments Expected to Bottom Out This Year
By Anuradha Kher, Online News EditorBoston–Demand for commercial real estate is expected to hit rock bottom this year with the apartment sector enduring the lightest demand loss in 2009 of all the commercial property types. However, that’s not saying much, as this will still be the heaviest loss in apartment demand in 25 years (Graph…
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