Archive for May 2009
GUEST COLUMN: Adding Green (Roofs) to Save Green in Multifamily Properties
tractors that specialize in green design. Extensive information on corporate, sales and property tax breaks, rebate programs, grants and loan programs, and other financial incentives for going green can be found at www.goodtobegreen.com and www.dsireusa.org. You’re likely to find that much green can be saved by implementing green and sustainable energy initiatives into your buildings.John…
Read MoreMULTI-HOUSING EXECUTIVES UPDATE: Richard Moody Promoted to Chief Economist, Director of Research for Forward Capital, and Other Moves
By Anuradha Kher, Online News EditorOakton, Va.–Forward Capital LLC has promoted Dr. Richard Moody (pictured right) to chief economist and director of research for Forward Capital and all of its operating entities, which includes Mission Residential. Moody was previously the chief economist and director of research of its Mission Residential unit.Moody joined Mission Residential in…
Read MoreTODAY’S DEALS: NorthMarq Capital Arranges $8.1M Mortgage for 309-Unit Mid-Rise Rental Community, and Other Transactions
By Anuradha Kher, Online News EditorTinley Park, Ill.–NorthMarq Capital’s Chicago regional office has arranged first mortgage financing of $8.1 million for Edenbridge Apartments, a 309-unit mid-rise, garden and townhouse multifamily property, located in Tinley Park, Ill. Financing was based on a 10-year term with a 30-year amortization schedule and was arranged for the borrower, Edenbridge…
Read MoreIn Dispute Between Developer and Lender, Arbitrator Finds in Favor of Former
By Erika Schnitzer, Associate Editor Long Beach, Calif.—In today’s trying economic conditions, developers nationwide are finding it more and more difficult to sell their recently completed condominiums to interested parties. With the credit markets frozen, even those who use these units as investment opportunities are often unable to purchase them. While some developers have turned…
Read MoreDupont Corian Launches ‘One-of-a-Kind’ Design Studio in New York
By Keat Foong, Executive EditorNew York—There is now a new showroom to help users apply DuPont Corian surfacing material in all kinds of ways. The material can be molded for countertops, flooring, bathtubs, sinks, vanities, and even headboards, radiator covers and seating for the kitchen, bath, and basically all areas of the multifamily home as…
Read MoreNYC Multifamily Sales Volume Plummets 95% from Mid-2007
By Anuradha Kher, Online News EditorNew York–The bank stress tests are in and have provided some relief to Wall Street, the stock market has picked up a little—relative to early this year—and the constant barrage of bad news has given way to some good news. And even though every economic indicator for New York City…
Read MoreSpotlight On Roy Stillman: ‘The 12 Cherries Theory’
By Roy Stillman, Stillman Development InternationalThe development of buildings is the ultimate art form. My intrinsic love of art is showcased in each of my properties, which I have created in collaboration with some of the world’s most respected architects, including I.M. Pei, Michael Graves and the late Philip Johnson. Over the years, Icreated “The…
Read MoreGuest Blog with Scott Yahraus: Feed Your Property Well, Go For Low Hanging Fruit
As CAP rates rise, property managers and owners are looking to adjust to their current realities. The economic and financial crisis has forced owners to change course and look to plans B and C. In many cases, the proposed cash out year of 2009 has been pushed back to at least sometime in 2010 at…
Read MoreTODAY’S DEALS: Freddie Mac Purchases $37.5M Loan from CBRE That Provides Refinancing for 255-Unit Rental Community, and Other Transactions
By Anuradha Kher, Online News Editor McLean, Va.– Freddie Mac recently purchased a $37.5 million loan from CBRE Capital Markets that helped provide financing for the borrower, Parc Pointe Investors LLC, to refinance the Parc Pointe Apartments (pictured) in Burbank, Calif. The transaction benefited from the Freddie Mac Capital Markets Execution (CME) pilot. Parc Pointe Apartments…
Read MoreNew Website Bridges Communications Gap Between Managers and Residents
By Erika Schnitzer, Associate EditorHouston—Tenanttxt.com recently launched a Website that allows multifamily property managers to send alerts to residents via text message or email.“The idea came from being an apartment renter,” Daniel Ellis, founder of tenanttxt.com, tells MHN. “I have been living in apartments my whole life and noticed the lack of communication between management…
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