Archive for June 2009
Q&A with Steve Bram: There Will be Shortfall of Supply When Recession Ends in 2011
Steve Bram is president and co-founder of George Smith Partners, Inc. An expert on multifamily finance, he has personally arranged over $2.5 billion of financing in over 150 transactions during his 25 years at GSP, including all types of construction, bridge and permanent financing on commercial and residential properties along with joint venture and equity…
Read MoreTODAY’S DEALS: AIMCO Sells 360-Unit Rental Community to Gene. B. Glick Co., and Other Transactions
By Anuradha Kher, Online News EditorIndianapolis–Tikijian Associates has arranged the sale of Somerset Lakes Apartments, a 360-unit waterfront community in Indianapolis. Tikijian Associates represented the seller, Apartment Investment Management Company (AIMCO), in this transaction with Indianapolis-based Gene B. Glick Company. The property was offered un-priced. Somerset Lakes is a picturesque community tucked just south of Keystone…
Read MoreSPECIAL REPORT: Property Managers are Concerned about Locating Reliable Residents for the Remainder of 2009, Survey Finds
Las Vegas—Property managers across the United States are experiencing difficulty locating qualified renters, according to a TransUnion survey of more than 870 property managers. The survey results were released today at the National Apartment Association’s Education Conference & Exposition in Las Vegas.Of those surveyed, 81 percent are concerned that they will not find reliable residents…
Read MoreApartment Finder Launches Social Networking Services, Tools for Property Managers
By Anuradha Kher, Online News EditorLas Vegas–After conducting a study about use of social networking among residents and property managers, NCI, parent company of Apartment Finder, today launched a suite of tools and services for the social web at the National Apartment Association Conference and Expo in Las Vegas. The company conducted a proprietary research…
Read MoreMARKET SNAPSHOT: “Cincinnati Will Be a Great Place to Invest in the Future”
By Erika Schnitzer, Associate Editor Cincinnati—Compared to other markets in the midwest, the Cincinnati/Northern Kentucky region has fared well “because it doesn’t have a huge auto influence and has a pretty diverse economic base,” asserts Debbie Corson, CPM, CCIM, principal in Apartment Realty Advisor’s (ARA) Dayton, Ohio office.Effective rents have increased slightly more than 1…
Read MoreTODAY’S DEALS: Hendricks & Partners Arranges Sale of 232-Unit Rental Community, and Other Transactions
By Anuradha Kher, Online News EditorGilbert, Ariz.–Hendricks & Partners recently arranged the sale of Sky View Ranch, located at 4632 East Germann Rd. in Gilbert, Ariz. for $17,500,000.The 232-unit Sky View Ranch is a class “A” asset constructed in 2007 and featuring 11, three-story rental buildings offering eight floor plans of one-, two-, and three-bedroom…
Read MoreMBA Lowers 2009 Originations Forecast To $2.03 Trillion
By Anuradha Kher, Online News Editor Washington, D.C.–The Mortgage Bankers Association recently lowered its forecast of mortgage originations in 2009 to $2.03 trillion, a drop of over $700 billion from its March forecast. The $84 billion drop is due to lower purchase originations and the rest is due to lower rate/term refinancings and very low volumes…
Read MoreLeading Economic Indicator for Construction Activity Suggests Recovery Has Stalled
By Anuradha Kher, Online News EditorWashington, D.C.–There has been a recent moderation in the downturn in design services billings, but the Architecture Billings Index (ABI) reveals that an economic recovery has stalled for now. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture…
Read MoreEDITOR’S NOTE: Initial Look at Financial Regulatory Reform
By Keat Foong, Executive Editor Last week, President Obama put forward his proposals to make changes to the regulatory oversight of the financial system. Among the proposals, the “Financial Regulatory Reform Plan” would give the Federal Reserve and the Federal Deposit Insurance Corp. additional controls over financial institutions. It would require hedge funds and private…
Read MoreGuest Blog: The Power of Your Website
We are all familiar with the web and have heard all the stories about young entrepreneurs becoming fabulously rich by building amazing sites and selling products through them. Some examples include Amazon, Zappos, and today’s social media darling Facebook. Every property is a business and just like any other business you need to promote it.…
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