Archive for June 2009

Guy Ackermann (pictured) is a partner in the Real Estate, Finance & Construction Group of Plante & Moran, a public accounting and business advisory firm that provides financial, human capital, operations, strategy, technology and family wealth management services. Ackermann has more than 27 years of experience representing real estate owners and developers in arranging financing,…

By Erika Schnitzer, Associate EditorChicago—TransUnion announced that it has integrated RentBureau’s data into its rental-screening platform, joining other resident screening companies that have become RentBueau Data Illuminated by gathering as much up-to-date and accurate information on potential residents as possible.“From the multifamily angle, we provide our data and our score to TransUnion customers to better…

Commentary and Data Supplied by Bernard Markstein, Director of Forecasting, National Association of Home BuildersMultifamily StartsStarts in buildings with five or more apartments plunged to their lowest rate on record in April — a seasonally adjusted annual rate of only 78,00 units. This is down 42 percent from March, and down nearly 75 percent year…

By Anuradha Kher, Online News Editor Miami–The Club at Brickell Bay, The Vue at Brickell, Blue Lagoon and Parc Central are are all buildings that topped the charts for the most foreclosures in 2008. But a lot has changed in a year. Now these very same buildings are among the most active-selling buildings showing significant sales…

By Anuradha Kher, Online News EditorSilver Spring, Md.–HFF (Holliday Fenoglio Fowler, L.P.) has arranged $24.1 million in financing for Rollingwood Apartments, a 283-unit multifamily community in Silver Spring, Md.HFF worked on behalf of the borrower, Federal Realty Investment Trust, to secure the 10-year, 5.72 percent fixed-rate loan with Wachovia Multifamily Capital Inc. Rollingwood Apartments is…

By Anuradha Kher, Online News EditorElkton, Md.–Love Funding recently arranged FNMA processing to close a $9,625,500 refinance loan for the Apartments at Iron Ridge, a 156-unit multifamily apartment property located in Elkton, Md. The property is located on a 12.9-acre parcel on the eastern side of Iron Hill Road in Cecil County, Md. There are…

By Anuradha Kher, Online News EditorFranklin, Tenn.–The Franklin Housing Authority (FHA) has selected The Michaels Development Co. from among eight others to assist in the potential redevelopment of its public housing inventory of about 297 units across 60 acres of land.“We want to find a way to make better use of land and create more…

By Erika Schnitzer, Associate Editor Detroit—The reported bankruptcies of two of the top American automakers has certainly affected Motor City’s unemployment rate significantly. According to the April U.S. Bureau of Labor Statistics figures, of the 49 metropolitan areas with a population of one million or more, the Detroit-Warren-Livonia MSA reported the highest unemployment rate at…

By Anuradha Kher, Online News EditorOakland, Calif.–PropertyBridge Inc., provider of electronic payment services to the residential real estate management industry, has announced the results of its 2009 Community Contest, a marketing promotion for community managers that was held from February to April 30, 2009. As part of the promotion, each PropertyBridge client’s (management company) respective…