Jessica Fiur is the editor-in-chief at Multi-Housing News and Commercial Property Executive and writes the award-winning blog What Renters Want.
Jessica has been with the company since 2011 and previously was with Weekly Reader and IQPC. Contact Jessica at jessica.fiur@cpe-mhn.com, on Twitter @jfiur or on LinkedIn https://www.linkedin.com/in/jessicafiur/.
Waterfront Property in Portland Bags $38.9M in Financing
Salpare Bay LLC has obtained $38.9 million in construction financing for the development of the first phase of the Residences at Yacht Harbor. When complete, the property will be a 373-unit waterfront apartment community in Portland.
Special Report: How Hurricane Sandy Continues to Affect Multifamily
At the New York State Association for Affordable Housing’s 14th Annual New York State Affordable Housing Conference, speakers discussed the effect of Hurricane Sandy and what developers in flood zones should plan for in the future.
$81M Serviced Suits Development Open in Singapore
Pan Pacific Hotels and Resorts has officially launched its newest location: the Pan Pacific Serviced Suites Beach Road in Singapore. The 180-key asset represents the company’s second Singapore location joining the Pan Pacific Singapore opened in 2008.
A Sunny Outlook for Conergy’s Second Solar Project in Romania
Conergy, one of the world’s leading PV solution and service providers, is expanding its footprint in the Romanian market with the development of a 2-megawatt solar power plant in the region of Slobozia.
Mortgage Delinquency Rates Increase, But Foreclosure Inventory Rate Down Sharply
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 7.25 percent of all loans outstanding at the end of the first quarter of 2013, an increase of 16 basis points from the previous quarter, but down 15 basis points from one year ago, according to the Mortgage Bankers Association’s National Delinquency Survey.
Apartment Conversion Started on Historic Philadelphia Landmark
Federal Capital Partners, Cross Properties and Alterra Property Group have teamed to renovate and convert the Philadelphia landmark 1616 Walnut Street to 206 luxury apartments in the historic Center City neighborhood.
Texas Affordable Housing Property Refinanced
The owner of Lago de Plata Apartments has obtained a $4.5 million FHA 223(a)7 loan to refinance the property. Proceeds from the loan will be used for repairs and to replace reserve escrows.
Economy Watch: Freddie Mac in the Black
Freddie Mac reported that it had a net income of $4.6 billion for the first quarter of 2013, compared to a net income of $4.5 billion for the fourth quarter of 2012.
Economy Watch: Home Prices Continue Upward Trajectory
More evidence that the housing market is in recovery mode.
B.H. Properties Acquires Terrace Park Apartments in Phoenix
Los Angeles-based commercial real estate investment firm B.H. Properties LLC has purchased Terrace Park Apartments in Phoenix.