Archive for February 2011
MARKET SNAPSHOT: Apartment Absorption Reaches All-Time High in Charlotte, N.C.
Charlotte, N.C.–After having its employment peak at 816,249 persons employed in October 2007 and trough at 739,160 in December 2009, the Charlotte MSA is now creating jobs at an annual rate of 3.79 percent, according to Terrence Llewellyn of Llewellyn Development.
Read MoreWNPM Enters Las Vegas with Six Management Assignments
Las Vega –Western National Property Management (WNPM), the multifamily property management division of Western National Group, has opened an office in Las Vegas and secured six third-party management contracts for multifamily communities in Las Vegas, Nevada. “One of Western National Property Management’s goals for 2011 is increasing the third-party management portfolio, particularly in the Las…
Read MoreAccounting Changes Likely Mean Headaches for Landlords
New York–Accounting standards might be arcane, but a major change in standards that could come as soon as this summer might make commercial property owners take notice. That includes multifamily owners, especially those with non-residential (namely retail) components to their properties.
Read MoreTODAY’S DEALS: Fantini & Gorga Arranges $53.6M Financing for Maryland Apartments
Fantini & Gorga has arranged $53.6M in refinancing for MetroPlace apartments; KeyBank arranges $61.8M in Freddie Mac financing; AREA Porperty Partners acquires 400-unit apartment community; and
Read More365 Connect Launches Featured Search Listings With Rent Jungle
New Orleans—365 Connect recently announced the integration of its Marketing Syndication Platform with Rent Jungle’s Featured Listings for online apartment rental marketing. The integration allows apartment community managers using the 365 Online Leasing Center the ability to elevate their search listing on Rent Jungle to the top with one click. This powerful delivers high market…
Read MoreSPECIAL REPORT: Student Housing, a Different Kind of Property
Las Vegas–The National Apartment Association (NAA) Student Housing Exposition and Exposition in Las Vegas opened with panelists talking about very promising projections, with the number of college students expected to grow from 18.2 million today to about 24 million by 2016 and enrollments expanding all the way through 2025.
Read MoreEconomy Watch: Existing Homes Sales Up
Existing home sales rose unexpectedly during January, according to the National Association of Realtors (NAR), up 2.7 percent from the previous month. The annualized sales rate was 5.36 million units, which compares to roughly 4.9 million sold in all of 2010 (using NAR figures).
Read MoreColliers Completes $2.5M Huntington Beach Sale
Huntington Beach, Calif.—Colliers International has completed the sale of 10 condos, bought in bulk, for $2.5 million by Symphony Real Estate Fund.
Read MoreThe Siegel Group Snaps Up 18 Multifamily Properties for Renovation in Las Vegas
Las Vegas–The Siegel Group Nevada Inc. continues to capitalize on the opportunities presented by foreclosures with the recent acquisition of 18 Class B and C apartment properties in Las Vegas from a private seller. At $1.8 million, the purchase price for the 78-unit portfolio was deeply discounted and well below replacement cost.
Read MoreFetch Plus Appoints Karen Kossow to Oversee Operations and Strategic Development
Chicago–Karen Kossow has recently been appointed as vice president,operations/strategic development, North America for Fetch Plus Asia Pacific, Pte. Ltd. a leader in social media and mobile applications for the multi-housing, real estate, hotel/hospitality and franchise sector. In this capacity, Kossow will oversee the North American operations of Fetch Plus Asia Pacific, Pte. Ltd.’s newest social…
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