Archive for July 2009
INSIDE THE DEAL: Apt. Sale to Affordable Developer Yields Best Price
By Keat Foong, Executive EditorSan Diego—Selling properties to affordable housing developers may sometimes be the way to go if a seller wants to obtain the best price. CB Richard Ellis recently brokered the sale of a market-rate property, the 95-unit Village Green Apartments, located at 4140-4150 Bonillo Drive in San Diego. The property was purchased…
Read MoreAdded Concerns for Calif. and Nev. Property Managers in an Already-Unstable Time
By Erika Schnitzer, Associate EditorSacramento, Calif.—With higher vacancies putting pressure on property managers to relax their applicant criteria somewhat, owners and operators are assuming more risk at their communities in order to lease more units. While this is mostly an increased financial risk, it is interesting to examine other areas where property managers are forced…
Read MoreH2Orb Can Prevent Wasted Water Flow
AquaOne Technologies LLC recently launched the H2Orb Water Management System, a new toilet technology that intercepts the flow of water to the toilet tank if the toilet begins to run excessively. Conversely, if the water level in the bowl gets too high, the H2Orb shuts off the water supply so that a second flush is…
Read MoreCharles E. Haldeman Jr. is New CEO of Freddie Mac
By Anuradha Kher, Online News EditorMcLean, Va.–Freddie Mac’s board of directors has appointed finance industry veteran Charles E. Haldeman, Jr. as the company’s CEO as well as a member of the board of directors. Haldeman was chairman of Putnam Investment Management LLC, the investment advisor for the Putnam Funds, until June this year. Previously, he…
Read MoreCharles E. Haldeman, Jr. is New CEO of Freddie Mac
By Anuradha Kher, Online News EditorMcLean, Va.–Freddie Mac’s board of directors has appointed finance industry veteran Charles E. Haldeman, Jr. as the company’s CEO and to the board of directors. Haldeman was chairman of Putnam Investment Management LLC, the investment advisor for the Putnam Funds, until June this year. Previously, he served as president and…
Read MoreRising Demand for Live/Work Housing, Says ULI
By Anuradha Kher, Online News EditorLos Angeles–With almost half (49 percent) of U.S. businesses being operated from home, the house is increasingly becoming the American office, according to a U.S. Census Bureau report from 2006, which is also the latest one available. And there are many more home businesses that have started since the downturn…
Read MoreKingsley’s Employee Engagement Program Helps MF Firms Drive Organizational Performance
The Kingsley Employee Engagement Program (KEEP) is a cost-effective tool for multifamily firms to drive organizational performance through improved employee satisfaction, loyalty and engagement. The survey-based program measures employee engagement, while identifying strengths, weaknesses and potential best practices within an organization. Through this program, multifamily firms can:• Optimize employee engagement and retention • Gauge the…
Read MoreTODAY’S DEALS: ARA Denver Brokers Largest Multifamily Sale of Over $9M in 2009 in the Denver Metro Area, and Other Transactions
By Anuradha Kher, Online News EditorArvada, Colo.–Apartment Realty Advisors (ARA) recently brokered the sale of a 182-unit property located at 6066 Lamar St. in Arvada, Colo. The buyer, a California private investor, purchased the property for a price of $9,200,000. This represents a price per unit of $50,549 and a price per square foot of…
Read MoreProspect Traffic and Quality Fall in Apartment Communities
By Erika Schnitzer, Associate EditorWaltham, Mass.—The number of applicants a community is processing per apartment decreased dramatically, according to a RentGrow report, entitled “Trends in Applicant Traffic and Quality.”Consistently over the last 10 to 15 years, processing rates, which measure how many applicants a community is processing per apartment, measured between 0.9 and 1 percent,…
Read MoreJamboree Celebrates 50th Affordable Property
By Anuradha Kher, Online News EditorIrvine, Calif.–Jamboree Housing’s 50th affordable property, Granite Court, is all set to open this month. The green apartment community is located in Irvine’s mixed-use neighborhood known as the Irvine Business Complex.With Granite Court, Jamboree’s portfolio is now valued at $2.08 billion including nearly 6,000 homes for approximately 15,000 residents. “Despite…
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