Archive for July 2009
TODAY’S DEALS: Hendricks & Partners Arranges $14M Sale of 106-Unit Community, and Other Deals
By Erika Schnitzer, Associate Editor Camarillo, Calif.—Hendricks & Partners recently arranged the sale of Mountain View Apartments (pictured), a 106-unit community, for $14 million. This represents the first sale transaction of over 100 units in Ventura County in 2009, and the first in the City of Camarillo in the past several years.Camarillo Mountain View LLC acquired…
Read MoreSPECIAL REPORT: Modest Recovery Will Take Place in Apartment Market from 2011 to 2013
By Anuradha Kher, Online News EditorDallas—“Last year the apartment markets looked fuzzy, and this year, it’s still a fuzzy picture,” Greg Willet, VP of research at MPF YieldStar, said at a session titled “U.S. Apartment Markets Outlook” at the RealPage User Conference held from July 13 to 14 in Dallas. “There is a lot happening;…
Read MoreNWP Agreement with Waste Reduction Consultants Provides Waste Expense Management Solution
By Erika Schnitzer, Associate Editor Irvine, Calif.—NWP Services Corporation has announced an agreement with Waste Reduction Consultants Inc. to provide a total waste expense management product to NWP clients. While the two companies are “complementary in some areas,” in others, “we felt we could put our synergies together and make the value greater for our…
Read More‘Seattle Times’ Launches NWhomes.com on Adicio Platform
Seattle-The Seattle Times online network recently launched NWhomes.com on the Adicio Real Estate platform from Adicio Inc. Already on the Adicio Careers platform since 2003, The Times migrated its real estate and automotive platforms from another vendor this year.The Times uses Adicio’s new community and amenity search options to create a new-homes section where prospective…
Read MoreINSIDE THE DEAL: Apt. Property Sells Quickly in Market Where ‘Rents Can Only Increase’
By Keat Foong, Executive EditorWest New York, N.J.—Apartment properties appear to be still moving relatively well in some markets. One such market may be West New York, N.J., where a sale marketed by The Kislak Co., Inc. closed in three months. Under rent laws in Hudson County, owners can increase rents to market by initiating…
Read MoreREthink’s Inaugural Project is Greenest, and Most Musical, Multi-Housing Community in The Golden State
By Erika Schnitzer, Associate EditorLos Angeles—REthink Development, a Culver City, Calif.-based real estate development and consulting company, is about to complete its inaugural project, the Lofts @ Cherokee Studios, a sustainable 12-unit live/work loft development in Los Angeles. REthink Development was founded by Steve Edwards, a real estate entrepreneur, and Greg Reitz, previously a Green…
Read More‘Editor’s Notebook’ with Diana Mosher
NAA Exhibitors ScentAir and Beaulieu Demonstrate the Role of Scent Management in the Apartment Business We know that the smell of baking cookies can make a house more attractive to prospective buyers. So why not apply the same principle to rent apartments—or to keep residents from moving elsewhere when their leases are up? There is…
Read MoreGerber’s Maxwell Dual Flush Toilet
Gerber Plumbing Fixtures LLC’s Maxwell Dual Flush is the company’s latest high-efficiency toilet (HET). According to the EPA, using a HET product (in place of a standard 1.6 gallon per flush toilet model) can save a minimum of 20 percent in annual water usage. Designed in an elongated front bowl, round front or ErgoHeight model,…
Read MoreAccessibility…ASAP!
By Julian Gordon, AmrampOver 54 million Americans—roughly 19 percent of our country’s population—have some sort of disability, according to the U.S. Census Bureau. And with that number growing every day with seniors, veterans and individuals recovering from surgery, managers and developers of multifamily residential communities are searching for ways to safely accommodate and appeal to…
Read MoreTODAY’S DEALS: Grandbridge Funds $2.6M First Mortgage for 256-Unit Class B Community, and Other Deals
By Erika Schnitzer, Associate EditorTomball, Texas—Grandbridge Real Estate Capital LLC recently funded a $2.6M first mortgage for Lakewood Apartments, a 256-unit, Class B, garden-style apartment community. The fixed-rate acquisition, originated by John Fenoglio on behalf of Tomball Apartment Company LLC, was funded by Grandbrige and sold to Fannie Mae under its DUS program.The borrower currently…
Read More