By Anuradha Kher, Online News EditorWashington, D.C.–The U.S. Department of Housing and Urban Development has appointed Shelley Poticha as senior advisor for Sustainable Housing and Communities. She will direct the office if the bill seeking to create it becomes law. “Poticha will help lead HUD’s effort to change the way we think about our communities,” says HUD Secretary Shaun Donovan. “Her wealth of experience will help move us forward in creating sustainable, greener and smarter communities.”HUD is working with Senate Banking Committee Chairman Chris Dodd (D-CT) on legislation that seeks to create the Office of Sustainable Housing and Communities at HUD.Poticha…

By Anuradha Kher, Online News EditorPotomac, Md.–Willco Cos., a commercial property development and investment firm, will soon close the $100 million Willco Fund I LP. This fund, the first in the firm’s history, is targeting equity and debt investments in commercial office, multifamily residential, and industrial income-producing properties in the Washington, D.C. metropolitan area. “Given the distressed nature of the marketplace, there are a number of fund players and public players selling assets to de-leverage their portfolios,” says Chief Operating Officer Jason Goldblatt. “This situation provides the opportunity to acquire undercapitalized assets in need of repositioning or reinvestment. By modestly leveraging…

By Anuradha Kher, Online News EditorLas Vegas–The National Apartment Association Education Institute (NAAEI) has announced the winners of several awards including the National Apartment Leasing Award, National Apartment Management Award and the Apartment Career and Education award. All the winners were recognized at the 2009 PARAGON Awards Ceremony this weekend at the Mandalay Resort and Casino in Las Vegas.Susan E. Weston, CAM, CAPS, of Dallas, was awarded the 2009 Apartment Career and Education (ACE) Award. Weston is the vice president of learning and development for Pinnacle in Dallas, where she guides all learning initiatives for Pinnacle’s 5,300 employees. Shannon Birtwell,…

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 Crossing, between Keystone Avenue and Dean Road on the city’s north side. The property has a resort-like setting, offering a full amenity package, mature landscaping and a view of the 80-acre spring-fed lake from every unit. Also, Somerset’s units are among the largest in the…

By Anuradha Kher, Online News EditorDenver–The Denver regional office of NorthMarq Capital has arranged a $41 million construction/permanent loan for The Carillon at Boulder Creek, a 117-unit senior living community located at 2525 Taft Dr. in Boulder, Colo. It is a nine-story building currently being renovated to feature 54 senior residential units, as well as construction of 63 new units on ground previously occupied by a one-story skilled nursing wing. The property will be operated by One Eighty/Leisure Care with amenities including a full service restaurant, outdoor garden and walking path, spa/salon, gym and an indoor lap pool. The property…

By Anuradha Kher, Online News EditorLong Beach, Calif.–HFF (Holliday Fenoglio Fowler L.P.) recently secured $6.4 million in financing for Esther Ridge Apartments (pictured), a 78-unit multifamily community in Long Beach, Calif.Working on behalf of Westland Industries Group, HFF placed the 10-year, fixed-rate loan with Wachovia Multifamily Capital Inc. – FNMA (Fannie Mae). Esther Ridge Apartments is located at 630-800 East Esther Ave. close to the Long Beach and San Diego Freeways in Long Beach. The 100 percent occupied property has 20 one-bedroom/one-bath units averaging 525 square feet each, 40 two-bedroom/one-bath units averaging 750 square feet each, eight two-bedroom/two-bath units averaging…

By Anuradha Kher, Online News Editor     Sunnyvale, Calif.–Raintree Partners has acquired Trellis Square Apartment Homes (pictured) in Sunnyvale, Calif. The property is a 204-unit luxury apartment community located in the heart of Silicon Valley for $38.25 million. This is the first multifamily acquisition for Raintree Partners.“Through our relationship with an institutional investor, Raintree Partners has the capital available to acquire a substantial portfolio of multifamily development and redevelopment projects located within high growth markets in the Western United States,” says Jeffrey B. Allen, CEO of Raintree Partners. Aaron Hancock, director of acquisitions for Raintree Partners, says, “We will continue to…

By Anuradha Kher, Online News EditorDallas–Alexan Fitzhugh, a Trammell Crow Residential project, recently won the “Best Garden Apartment Community” (four stories and under) category in the 2009 Pillars of the Industry Awards from the National Association of Homebuilders (NAHB). The honored Alexan Fitzhugh “team” includes architecture firm Beeler Guest Owens, interior design by the Faulkner Design Group and JBI Partners landscape architecture.  Located in a transitional neighborhood of Dallas at the corner of Fitzhugh Avenue and Homer Street, the Alexan Fitzhugh is a three-story, 452-unit community that sits on a 10-acre site. The site, which was previously occupied by aging,…