Archive for July 2009

By Erika Schnitzer, Associate EditorSan Francisco—This year’s Gold Nugget Awards were recently announced at PCBC (Pacific Coast Builder’s Conference), a regional trade show and conference of the real estate development industry. This year’s multifamily winners demonstrated a number of trends, including green and sustainable design, seniors and affordable housing, specialty designs,  and site and land…

By Anuradha Kher, Online News EditorPhoenix, Ariz.–Alliance Residential Co., has appointed Gregory N. Signer (pictured) as vice president of operations for the company’s Southeast Region. Before joining Alliance, Signer served as senior vice president of McKinley Properties in Orlando where he was responsible for overseeing 13,000 multifamily homes and the day-to-day operations of a five-state…

By Anuradha Kher, Online News EditorMinneapolis, Minn.–NorthMarq Capital’s Minneapolis regional office has arranged first mortgage financing of $11.25 million for two apartment complexes, the 360-unit Park Meadows Apartments in Waite Park, Minn. and the 116-unit Terrace on the Green in Moorhead, Minn.  Financing for both of these multifamily properties was arranged for the borrower by…

By Anuradha Kher, Online News EditorNew York–Kevin M. Salmon, a former vice president of investments at Marcus and Millichap, has joined forces with Matthew J. Marshall to launch Salmon and Marshall Real Estate Investments. Located in New York, the firm will provide investment sales and consultation services to the multifamily and commercial condominium market. Salmon…

By Keat Foong, Executive EditorWashington, D.C.—Fannie Mae has reported strong progress in expanding the investor base for its financing. This may mean greater assurance of capital availability for the multifamily sector. The company recently announced that the biggest portion of its multifamily financing is now securitized and sold in the Mortgage-Backed Securities (MBS) market as…

As Chief Executive Officer of the Western National Group, Michael K. Hayde (pictured) is responsible for the operations and organization of the company. Hayde joined the firm in 1971 and became president of Western National Properties, the development arm of WNG in 1981. He has been the CEO since 1994 and has been involved in…

By Anuradha Kher, Online News EditorSacramento, Calif.–Hendricks & Partners recently completed the sale of The Lofts (pictured), located at 3351 Duckhorn Dr. in Sacramento, Calif. The 188-unit apartment community was sold for $18,462,500.Built in 2005, The Lofts features 188 units (18 separate floor plans) in 13 two- and three-story, garden-style buildings and is approximately 205,976…

By Erika Schnitzer, Associate Editor Skaneateles, N.Y.—Emanon Equities, a Long Island-based real estate development and construction firm, and Skaneateles-based Ramsgard Architectural Design have turned The Seitz Building, a collapsing historic building in downtown Skaneateles, into a luxury mixed-use, 10-unit condominium. Originally constructed in 1830, the Hecox Building became known as the Pardee Block when Charles…

By Anuradha Kher, Online News EditorBoca Raton, Fla.–The Altman Cos. is another one in a line of multifamily companies to launch a division to deal with the distressed properties and loans coming on the market. Since this year began, Post Investment Group made a foray into the foreclosure and distressed debt arena; Bainbridge Cos. launched…